SOURCE: WGL Entertainment Holdings, Inc.

March 06, 2008 09:30 ET

WGL Entertainment Holdings, Inc. Projects Revenue From Million Dollar Shootout Syndication

LAKE MARY, FL--(Marketwire - March 6, 2008) - WGL Entertainment Holdings, Inc. (PINKSHEETS: WEHI) announced today that its syndication plan for the top thirty CBS markets will be based on WGL Entertainment buying the airtime slots from local affiliates and owning 100% of the commercial time. Over the course of the nine-week schedule, beginning May 3rd and ending June 28th, there will be 3,570 minutes of commercial inventory. The inventory will be sold by a national advertising agency on behalf of WGL Entertainment. The average price per minute is estimated at $650 or $2,320,500 for the inventory. The cost of the airtime is estimated at $1,160,250. WGL Entertainment's gross revenue excluding agency fees is estimated at $1,160,250. Agency fees and other associated costs are estimated at $250,000.

"The strategy of buying into the top 30 television markets not only produces much needed revenue, but gives us the best opportunity of gaining a national airing this summer on one of the major networks," said Mike Pagnano, CEO WGL Entertainment Holdings, Inc. "Leading into PGA Golf with powerhouse sponsors exposes the MDSO to more than 65% of the U.S. television market and could very well convince one or more of the sponsors to take the MDSO national, as well as produce MDSO ll."

WGL Entertainment Holdings, Inc., through its subsidiary WGL Entertainment, is the producer of the WGL Million Dollar Shootout Reality Television Series and several other made for T.V. sports entertainment events scheduled to be produced in 2008 and beyond.

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

  • For more information contact:
    Michael Pagnano
    WGL Entertainment Holdings, Inc.