Empire Post Media, Inc., an entertainment company specializing in innovative 3D solutions for television, announced today that it has acquired Hybrid Reality Entertainment, Inc., a creator, developer and producer of reality-based television programming. According to today’s press release, Hybrid Reality will operate as a wholly-owned subsidiary of EMPM.
As per the terms of the acquisition, three million restricted shares will be delivered to Richard Mann and Ellen Fontana, Hybrid Reality’s creators, upon execution of the Share Exchange Agreement, pursuant to which Empire will acquire 100% of the shares of Hybrid. When production of the new series “Journey Beyond” commences in September, an additional 7 million shares will be delivered. 10 million shares will be delivered if the networks pick up a second season of the series.
Mr. Dunn, President of Empire, remarked, “We are pleased to announce the completion of the acquisition of Hybrid Reality Entertainment and to be able to pursue more opportunities in reality television with such talented veterans as Ellen and Richard.”
Dunn continued, “The acquisition of Hybrid-Reality will accelerate our goal of becoming a major player in the 3D TV production arena. We believe that Hybrid’s first project, ‘The Journey Beyond,’ has the potential to generate revenues in excess of $35 million over the next 5 years, if it is picked up for second year, not including 3D exploitation, which would increase revenues even more.”
Hybrid Reality is known for its unique development and production of reality based television programming in the areas of paranormal phenomena, private investigation, world history, sports, social networking and current events.
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