SOURCE: Kaleidoscope Media Group, Inc.
NEW YORK, May 4 /PRNewswire/ -- Micky Hyman, President and Chief Operating Officer of Kaleidoscope Media Group, Inc. (OTC Bulletin Board: KMGG and Frankfurt Stock Exchange: BNN) announced today that revenue for Fiscal 2000 is not expected to be significantly impacted by the cancellation of the television series ``Double Cross'' starring David Hasselhoff. While KMG had hoped to be associated with ``Double Cross,'' it had not budgeted any major revenues from the series in fiscal 2000. Thus, no revenue shortfall is foreseen. The company is continuing its relationship with Mr. Hasselhoff and expects to announce shortly another series with him.
With expenses reduced, and other revenue enhancing properties such as distribution rights to the ITV catalog, the ``Cafe Digital'' series and the ``Magnificent Ambersons,'' which has begun pre-production in Ireland with principal photography scheduled to begin in early in July, in the pipeline, Kaleidoscope looks forward to continuing the progress it announced in the first quarter of 2,000.
Kaleidoscope Media Group, Inc., located in New York, is a vertically integrated entertainment company. The company has the distribution rights to hundreds of hours of sports and entertainment programming including such series as ``Tarzan: The Epic Adventures,'' movies and mini-series such as ``Shaka Zulu: The Citadel'', ``The Magnificent Ambersons'' and ``Merlin: The Magic Begins,'' sports properties including golf, boxing and fitness; family entertainment shows consisting of circus, magic and ice skating, and informational series such as ``Cafe Digital'' and the ITV catalog of programming in the areas of health and technology.
When used in this discussion, the words ``foresees'', ``anticipates'', ``expects'' and similar expressions are intended to identify forward- looking statements. Such statements are subject to certain risks uncertainties that could cause actual results to differ material from those projected.
SOURCE: Kaleidoscope Media Group, Inc.