WEHI After Major News, over 1,000,000,000 shares traded hands the past week. . More news yesterday.
WGL Million Dollar Shootout to Air in Several National Markets in 2008
11:56a ET May 22, 2008 (Market Wire)
WGL Entertainment Holding's, Inc. (PINKSHEETS: WEHI) announced today that its flagship brand and 2007 Accolade Award winner, the WGL Million Dollar Shootout(R) reality television show (MDSO), will be airing in several national markets this year. WGL Entertainment will be buying airtime on several cable networks including ESPN2 CNBC and USA Network. This is in addition to the national network buy. WGL Entertainment will own the entire advertising inventory, which will be sold by its agency partner.
"The buy time model makes perfect sense, since the MDSO can be aired multiple times on different platforms with different demographics. This appeals to the advertising sponsors and allows WGL Entertainment to maximize profits. Each seven-hour airing produces approximately 40% in profit relative to the cost of the time. $10,000,000 of airtime purchased produces $4,000,000 in direct profit for WGL entertainment. This model can be replicated many times over," said Mike Pagnano, CEO WGL Entertainment Holdings, Inc.
WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment, is the producer of the WGL Million Dollar Shootout Reality Television Series and several other made for T.V. sports entertainment events scheduled to be produced in 2008 and beyond.
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
