BEACHPORT ENTERTAINMENT TO MERGE WITH ON ICE, INC.LOS ANGELES--(BUSINESS WIRE)--October 12, 1995--Beachport Entertainment Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on BB: BPRT) announced today that it has entered into a definitive merger agreement with On Ice, Inc., a leading producer of family oriented ice skating ice skating, gliding along an ice surface on keellike runners known as ice skates. Skating as a Sport Skating, besides being an important form of winter recreation and the essential skill in the game of ice hockey (see hockey, ice) has developed and theatrical entertainment for live audiences, network television and home video. Under the terms of the agreement Beachport will acquire a 100% interest in On Ice, Inc. from the principals of the privately-held firm. On Ice projects revenues and operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of approximately $4.8 million and $1.5 million, respectively, for its current fiscal year which ends December 31. On Ice management anticipates significant revenue and earnings growth over the coming twelve month period. Following the closing, On Ice will become a wholly-owned subsidiary of Beachport and On Ice's President, Barry Mendelson, will become President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Beachport Entertainment Corporation. Based in 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. , On Ice, Inc. is the producer of ice shows for theaters and arenas in both the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and internationally. On Ice also produces network television specials for NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. and French television. On Ice is currently producing three Nutcracker on Ice touring shows based on an adaptation of Tchaikovsky's classic ballet; one for theater performances, one for domestic arena performances and one for European exhibition. The theater tour is scheduled for an nine city tour including a four week run at Harrah's Casino in Atlantic City. The domestic arena tour will encompass 22 cities. The European tour will run in eleven cities in Switzerland These are lists of cities in Switzerland. Municipalities with more than 10,000 inhabitants are considered to be "cities" (in German: Städte, in French: villes, in Italian: città). See Municipalities of Switzerland for a table of the largest and smallest. , France and the United Kingdom. The stars of these shows will include Olympic Champions Oksana Baiul, Viktor Petrenko, Peggy Fleming and current U.S. champions Nicole Bobek and Todd Eldredge. On January 1, 1996 from 4:00 - 6:00 p.m. EST Nutcracker on Ice will be seen on the NBC television network. Beachport Entertainment is engaged in the development and production of diversified live family entertainment programming which is distributed in domestic and international ancillary markets, including home video, cable and broadcast television. Beachport Entertainment Digital Group is a full-service interactive entertainment software developer that designs video games for all popular game platforms. Beachport also designs sites for the world wide web and the Microsoft Network. CONTACT: Barry Mendelson Beachport Entertainment Corporation 310/278-5114 or Joseph N. Jaffoni David C. Collins Jaffoni & Collins Incorporated 212/505-3015 |
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