Avenue Entertainment Group Inc. Retains O'Dea & Co. of New York as Financial Advisor.Business Editors LOS ANGELES--(BUSINESS WIRE)--March 20, 2001 Avenue Entertainment Group Inc. (AMEX AMEX See: American Stock Exchange :PIX) today retained O'Dea & Company, of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , as financial advisor to the company. Announcing the appointment, Cary Brokaw, President and Chief Executive Officer of Avenue Entertainment Group, said that O'Dea & Company would work to identify, evaluate and structure transactions in connection with the expansion of Avenue's filmed entertainment activities. The opportunities under consideration include the possible acquisition of a significant library of highly exploitable, completed motion pictures and television programming, the establishment of a distribution division and new opportunities for production by Avenue of feature and television films. O'Dea & Company will also advise Avenue with respect to the financing of the library acquisition, establishment and operation of an Avenue Entertainment Group distribution division and new production activities, as well as the recapitalization of the company as a whole. "We are very pleased to be working with O'Dea & Company," Brokaw said. "We have great confidence in their ability to provide a basis for financial restructuring of Avenue Entertainment Group and for a substantial expansion of our activities." O'Dea & Company has arranged film production and distribution financing and provided financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal for a wide range of filmed entertainment industry clients. Its President, Gerald A. Kelly, has considerable experience and success in financing the production and distribution of motion pictures and television programming, both in his present capacity and, formerly, in senior executive positions with Citicorp and Citibank, New York, Crocker National Bank Crocker National Bank was a United States bank headquartered in San Francisco, California. It was acquired by and merged into Wells Fargo Bank in 1986. History The bank traces its history to the Woolworth National Bank in San Francisco. , Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , and Den Norske Creditbank Den norske Creditbank or DnC is a defunct Norwegian commercial bank created in 1857. In 1990 it merged with Bergen Bank to create Den norske Bank (DnB). The bank was based in Oslo and listed on the Oslo Stock Exchange. , New York. Avenue Entertainment Group is a diversified entertainment company that produces feature films, movies for television and cable, television series and one-hour biography programs. Avenue Pictures, a division of Avenue Entertainment Group, and Brokaw have produced the Academy Award(R)-winning "Restoration," as well as Robert Altman's "Short Cuts" and "The Player," the later being nominated for five Academy Awards(R), including Best Picture. Brokaw and Avenue have also produced such features as "Finding Graceland," "Drugstore Cowboy" and "The Object Of Beauty." The company's most recent cable production is the film version of the Pulitzer Prize-winning play, "Wit," for HBO Hyperbaric oxygen therapy (HBO) A form of oxygen therapy in which the patient breathes oxygen in a pressurized chamber. Mentioned in: Ozone Therapy starring Emma Thompson and directed by Mike Nichols. The company's upcoming feature films include "Mindhunters" to be financed by Intermedia Intermedia - A hypertext system developed by a research group at IRIS (Brown University). and "The Last Good Feeling" directed by James Merendino. Upcoming cable and television movies include "The Twelve" (USA Networks) and "Special Occasions" (CBS (Cell Broadcast Service) See cell broadcast. ). Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. statement under the Private Securities Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices, the inherent uncertainty of the film and television production business (in which success of a product depends upon unpredictable and changing factors such as competition and audience acceptance) and other factors discussed in the company's various filings with the Securities and Exchange Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion