To: Joe Copia who wrote (16128 ) 6/6/1999 4:27:00 PM From: Spark Read Replies (2) | Respond to of 25711
Joe, DIO on the TSE might make some noise Monday..had news after Friday's close.. WHITE ROCK, BC, June 4 /CNW/ - Dion Entertainment Corp. is very pleased to announce that, after extensive negotiations, Glen Larson, one of Hollywood's most successful and creative television producers, has agreed to join forces with Dion Entertainment to launch a new television production company, Larson-Dion Production LLC., to develop, produce and distribute interactive televised game shows in North America and to markets around the world. The plan is to give the new shows a competitive advantage over other game shows by allowing meaningful at-home viewer participation for substantial prizes. Mr. Larson is one of television's most prolific and respected producers, with some 26 hit series and pilots to his credit. Larson, whose production credits include, (The Fall Guy, Quincy, Knight Rider, Magnum P.I., McCLoud, The Six Million Dollar Man, It Takes A Thief) has decided the time is right to take the plunge into high stakes television game shows. Mr. Larson stated, ''While I have always been a fan of television's more noteworthy audience participation shows (Jeopardy, Wheel of Fortune, Hollywood Squares etc.), now for the very first time brand new technology makes it possible for the viewer at home to have as much fun and win prizes and cash as exciting as those being given away to a studio contestant.'' The bingo game show, described by Mr. Larson as ''A get rich show with laughs'', is intended to be played live across the country, both on television and via the internet. The first project for Larson-Dion Productions will be the development of a television game show involving the most played game in the world, ''Bingo''. The parties are currently developing the format for the show and Mr. Larson indicated that the pilot, which is a significant tool in marketing the production, will be completed soon. APA, on behalf of Larson-Dion Productions, is in talks with King World as well as several other networks. Management and control of the new company is shared equally between Dion Entertainment and Glen Larson Group LLC with Mr. Larson having a casting vote in creative matters that do not materially effect the company's finances. Dion Entertainment has agreed to fund initial start-up costs through a shareholder's loan which will be re-paid prior to any sharing of profits. After repayment of any shareholder's loans, Dion will receive almost three million dollars of the first eleven million dollars (US) of net income and 50% thereafter. Leo Dion, President of Dion Entertainment, commented after signing the deal with Mr. Larson: ''It is an honour to have someone as gifted and accomplished as Glen Larson working with us on a project that is so central to the Company's business plan. We feel especially privileged because Glen rarely enters into partnerships of this nature''. Dion Entertainment sees this new venture as a giant step toward its goal to be the largest and most diversified bingo entertainment company in the world. -0- 06/04/1999