OT:September 25, 2006 09:30 AM Eastern Time
ValCom, Inc. Completes Acquisition of Studio in Burbank
LAS VEGAS--(BUSINESS WIRE)--ValCom, Inc. (OTCBB: VACM) (Frankfurt XETRA: VAM), a Las Vegas-based entertainment production company, is pleased to announce the completion of the acquisition of Media City Studios, a 25,000-square-foot state-of-the-art production facility located in Burbank, Calif.
ValCom has finalized the purchased of the Media City Studios in Burbank. It's being renamed ValCom Burbank Studios. It is one of Burbank's finest television production facilities, with three edit bays, two sound stages and over 25,000 square feet of production support. This purchase will give ValCom production presence in both major entertainment markets, Las Vegas, Nevada and Burbank, Calif.
ValCom has completed production agreements with Sony Picture Television Division for post productions for some of the top-rated syndicated television shows and NBC Universal's Telemundo Hispanic Network for production of "Me Caso Contigo," a newlywed game show to be broadcast on KWHY channel 22 Los Angeles this fall.
ValCom has established itself as a leader in production facilities for television and film. ValCom will remain sharply focused on two major market opportunities: development and production of film and television projects in both the Burbank and Las Vegas markets.
"ValCom Burbank Studios has the necessary technology and space needed to create, produce and shoot all of our clients' programs. We are extremely pleased with the addition of this purchase because it brings us back to our grass roots and gives us a presence in both Los Angeles and Las Vegas. We believe we gain economies of scale, performance assurance and a means to grow our business in a rapid and cost-effective manner," said Vince Vellardita, President and CEO of ValCom, Inc.
"This turn-key, state-of-the-art facility was the home of 'Jeopardy' and the 'Wheel of Fortune' post production for many years. This studio facility production revenue exceeded 36 million dollars over the last eight years. It will make our presence in both the California and Nevada markets viable for filmmakers, television creators and entertainment executives," concluded Vellardita.
Growth Plan
The newly acquired facility, ValCom Burbank Studios, will be available to rent to filmmakers, television creators and entertainment executives seeking a Los Angeles studio for production.
Based in Las Vegas, ValCom, Inc. is a diversified and vertically integrated, independent entertainment company. ValCom, Inc. creates and operates full-service facilities that accommodate film, television and commercial productions with four divisions comprised of: studio, film and television; live theater; camera and equipment rentals; and broadcast television. ValCom's client list consists of majors such as MGM, Paramount Pictures, ABC, CBS, Sony, NBC, HGTV, D.I.V., History Channel, Discovery, Food Network, Sony Pictures T.V., PAX, MTV, Disney Channel, HBO, NBC, Sci-Fi, GSN, Comedy Central, VH-1, FOX Television, Lifetime, over a period of 12 years.
