WEHI-Finally News Out! Retiring shares in a month! More Deals:
Post # of 2420
WEHI NEWS :
The WGL Million Dollar Shootout(R) to Air on Three National Cable Networks
Jun 3, 2008 9:27:00 AM
View Additional ProfilesLAKE MARY, FL -- (MARKET WIRE) -- 06/03/08 -- WGL Entertainment Holdings, Inc. (PINKSHEETS: WEHI) announced today that its WGL Million Dollar Shootout® reality television series will air on three national cable networks this summer using the time buy model. Under this model, WGL Entertainment purchases the time from the networks then owns 100% of the advertising inventory. There is 119 minutes of advertising inventory per each seven-hour series. The advertising time will be sold by a national advertising agency on behalf of WGL Entertainment. Details for each airing will be announced over the next several weeks.
"This is a very cost effective method to gain exposure for the MDSO on a national level and produce much needed revenue for WGL Entertainment Holdings, Inc. Each airing will produce approximately $250,000 in net revenue over a seven-week period. As previously stated, the revenue will be used to retire the convertible debentures the company has in place ($365,000) and to initiate the open market stock repurchase plan for $250,000," 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.
For more information contact:
Michael Pagnano
WGL Entertainment Holdings, Inc.
1-407-833-7931
