Children's Broadcasting Corporation, DBA iNTELEFILM, Purchases 51% of Bi-Coastal Commercial Production Company, Curious Pictures.MINNEAPOLIS--(BUSINESS WIRE)--Aug. 4, 1999-- Principals Extend Employment Agreements Through 2004 Children's Broadcasting Corporation DBA iNTELEFILM(SM) (Nasdaq: FILM) announced today that on July 27, 1999 it purchased 51 percent of Curious Pictures Wikipedia is not the place for advertisement or self-advertising. Curious Pictures is a diversified entertainment company dedicated to fun and creative expression in all shapes and forms. Corporation, a commercial production company from a four person management team for $1.5 million in cash and $1.5 million pursuant to a promissory note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. bearing 8 percent interest due May 31, 2000. Curious Pictures was a subsidiary of Harmony Holdings Inc., of which iNTELEFILM is the largest shareholder. The transaction results in Curious Pictures ownership divided as 51 percent iNTELEFILM and 49 percent Harmony Holdings. In a related transaction, the principals of Curious Pictures extended their employment contracts with Harmony Holdings through December 31, 2004 and received certain rights to shares of iNTELEFILM. In addition, Curious Pictures principals received the right to acquire a minority interest in Curious Pictures and have certain related agreements with iNTELEFILM entitling them to put their Curious Pictures stock to iNTELEFILM upon certain events. "Curious Pictures has built a strong brand in the commercial production industry and we look forward to assisting their exceptional management team in implementing their exciting growth strategies," said iNTELEFILM Chief Executive Officer Christopher T. Dahl. Curious Pictures, a broadcast commercial production company and producer of broadcast television programming, has studios in 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 and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . The company has received numerous industry awards and is currently producing 18 episodes of "A Little Curious A Little Curious is a children's television show which has aired on HBO Family since 1998. The 30-minute episodes are essentially anthologies of shorts centered on a common, easily digested theme such as "Up and Down" or "Slippery. ," a half-hour daily television show for the HBO Family HBO Family is an American premium cable television network from sister station HBO. It was launched in 1996 as a family friendly version of HBO. Programming Schedule Channel now in its second season. Certain statements made in this press release constitute "forward looking statements" within the meaning of the Private Securities litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1985. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors include, but are not limited to, changes in economic conditions and the risks and uncertainties described in the company's filings with the Securities and Exchange Commission. |
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