Dick Clark hopes for a hit with restaurant featuring a slice of American Bandstand.

Dick Clark hopes for a hit with restaurant featuring a slice of American Bandstand 

Despite a hard-as-a-rock food service industry, dick clark productions inc. last week opened a theme restaurant, featuring a pepped-up and Amercanized, version of a Karaoke bar.

"The restaurant business is a risky business," said Kenneth H. Ferguson, vice president and chief financial officer of dick clark productions. "But we found a partner willing to put up the capital. There's just no downside risk for dick clark productions. And, thus, we look forward to participating in this restaurant venture."

A partner in a joint venture with New Jersey-based Harmon American Entertainment, Burbank-based Clark Productions will get 3 percent of the gross receipts and 50 percent of the net profits from the restaurant, which is in Miami's upscale Bayside Market Place mall. The construction and start-up of the $2 million restaurant was fully financed by Harmon American. Clark Productions stands to profit because it is lending the concept of American Bandstand to the 8,500-square-foot facility. Mementos from Dick Clark's career are framed, encased and otherwise displayed throughout the restaurant.

"There is an untapped value in certain trademarks owned by dick clark productions," said Francis C. La Maina, president and chief operating officer. "We have been actively exploring ways to capitalize on those assets. The pilot restaurant represents one of several such programs under way."

Called Dick Clark's American Bandstand Grill, the restaurant features laser audio recording studios. There, in true Karaoke style, amateur crooners can belt out the lyrics from any one of the 250 songs in the restaurant's library, backed by pre-recorded back-up singers and music.

Overlooking Biscayne Bay, the restaurant also features a 1950s soda fountain, a 1960s pop-art cellar club and a 1970s rock star sculpture.

Last month, publicly traded dick clark productions reported second quarter profits of about $356,000 (4 cents a share) on revenues of $7.3 million, compared with earnings of $738,000 (9 cents a share) on revenues of $6.3 million the year before.

The television production company, which has pumped out "TV's Bloopers and Practical Jokes" for three years, is producing "The Challengers" -- a current-events game show -- for the Walt Disney Co. and "Let's Make A Deal" for NBC.

In over the counter trading, shares of dick clark productions sold for $6.25 last week, up 37.5 cents from the week previous. Its 52-week high is $8.25, with a $3.875 low.