Feature films in profit, Kratts' Creatures a PBS hit and the launch of a new financing service; Paragon's growth on target.TORONTO--(BUSINESS WIRE)--Sept. 20, 1996--With feature films in profit, children's television showing franchise potential and the launch of a new production financing service, "Paragon's corporate strategy is working," said Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jon Slan at the company's 1996 annual general meeting held in Toronto. Slan also noted that with shows already producing significant profits, the possibility of a hit could be "transformational" for Paragon. Paragon Financial Investment Ltd., which previously dealt in tax shelter tax shelter: see tax exemption. product, is being re-launched with a new mandate to provide interim financing Interim financing A short-term loan made to a company on the condition that a takeout will follow with long-term or intermediate financing. interim financing The financing that supports a transaction until permanent financing can be arranged. to independent Canadian production houses as well as distribution and tax credit advances and financing against unsold territories. "It's a shot in the arm for indigenous production and the industry as a whole," said Richard Borchiver who will head up the production financing service. "We'll be helping to realize terrific work that otherwise wouldn't get done due to lack of infrastructure and banking relationships." Paragon will not require a distribution deal in place as part of its lending criteria. Laura Polley, currently Paragon's vice president, corporate affairs, will handle the ongoing administration of Paragon Financial Investments. Paragon Family Entertainment, the division of the company responsible for the award-winning Lamb Chop's Play-Along Charlie Horse redirects here. For the medical condition, see Charley horse. Lamb Chop's Play-Along is a children's television show that was shown on PBS in the United States from 1992 to 1997, and reruns were from fall 1997-2001. and the groundbreaking, new wildlife series Kratts' Creatures Kratts' Creatures is a children's television program on PBS. The show is hosted by two brothers, Chris and Martin Kratt. It also features Shannon Duff and Ron Rubin. The show introduces its viewers to the world of animals. now airing on PBS PBS in full Public Broadcasting Service Private, nonprofit U.S. corporation of public television stations. PBS provides its member stations, which are supported by public funds and private contributions rather than by commercials, with educational, cultural, , has completed a deal with the Kratt brothers Chris Kratt (born 1969-07-19 in Warren Township, New Jersey, USA) and Martin Kratt (born 1965-12-23, also in Warren Township) are a team of brother zoologists and television personalities. , creators and hosts of Kratts' Creatures, to produce their next venture Zaboomafoo, a 40-episode pre-school series, it was announced. Slan also noted that Paragon is now the largest supplier to PBS, having recently overtaken Children's Television Workshop Children's Television Workshop: see Cooney, Joan Ganz. . Kratts' Creatures, which has been acclaimed in Time and TV Guide, makes its Canadian debut on TVO TVO tractor vaporizing oil. Monday, Sept. 23. HandMade, Paragon's feature film division, currently slated to complete and deliver at least four pictures this year, continues to produce commercial films with limited risk and excellent profit potential. At Friday's meeting, Slan confirmed final casting for Paragon's newest HandMade film, "The Assistant," set to start principal photography at the end of September. A drama based on Pulitzer Prize-winning author Bernard Malamud's 1957 novel, and adapted and directed by Daniel Petrie Sr. ("Raisin in the Sun," "Fort Apache, The Bronx"), "The Assistant" stars Gill Bellows ("The Shawshank Redemption"), Armin Mueller-Stahl ("Music Box," "Shine," and "Avalon"), Joan Plowright ("Enchanted en·chant tr.v. en·chant·ed, en·chant·ing, en·chants 1. To cast a spell over; bewitch. 2. To attract and delight; entrance. See Synonyms at charm. April") and Tanya Allen ("Lives of Girls & Women"). "The Assistant" is the company's fourth HandMade production since acquiring HandMade Films two years ago. Paul Brown, Slan and Petrie are producers. In other news, it was also announced that Paragon's long-standing relationship with Ottawa-based Lacewood Productions will expand and deepen. An agreement has been reached whereby Paragon will assume a 50 percent equity stake in all Lacewood products. "Animation is a rapidly expanding arena that promises increased profitability," said Slan. "We fully expect that Paragon will benefit greatly from the terms of our new agreement." Paragon Entertainment Corp., engaged in the development and production, distribution, financing and merchandising of quality programming and feature films, is a publicly traded Canadian company with headquarters in Toronto, a strong parallel presence in Los Angeles, and a feature film production and sales office in London. Paragon operates internationally and incorporates the following divisions: Paragon International, Paragon Family Entertainment, Lacewood Animation and HandMade Films. CONTACT: Toronto: Paragon Entertainment Corp. Natalie Kovacs, 416/977-2929 or Los Angeles: Hanson & Schwam Gene Schwam/Dick Winters, 310/557-1199 |
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