VALENCIA/SBI TO BUY TRI-CROWN, AFFILIATES.

Byline: Daily News

VALENCIA - Valencia Entertainment/SBI Communications Inc. has signed a letter of intent to acquire Tri-Crown Productions Inc. and some of its affiliates.

The acquisition is subject to further review by both companies, but a final deal is expected by June 30. Tri-Crown is an entertainment company that specializes in development, post-production and distribution of its own original television programs, video and DVD.

Tri-Crown Productions has annual revenues of approximately $15 million and holds assets that include a post-production facility with equipment and a library of television shows and documentaries.

The company is well-established within the entertainment industry and has created programs for all major broadcast networks, cable networks and international networks during its 14-year history. Tri-Crown has produced weekly series and specials for ABC, NBC, CBS, Fox, Fox Sports, Fox Family, Warner Bros., Telemundo, Universal, Sony and Disney. Tri-Crown's library continues to grow with programs shot on location around the world.

``Tri-Crown is an important link in completion of the company's business plan in making Valencia/SBI a one-stop studio,'' said Valencia Entertainment President Vince Vellardita.

Valencia Entertainment's core properties already host production for such popular TV shows as the hit CBS series ``JAG,'' and the popular Fox Family Channel show ``Power Rangers.''

Valencia's clients include Warner Bros., Paramount, Universal, MGM, HBO, NBC, Twentieth Century Fox, Disney, CBS, Sony, Showtime, and the USA Network.

If the acquisition is finalized, Valencia Entertainment anticipates revenue of $25 million this year and projected revenue of more than $150 million over the next five years.