Ventura, Artists org to merge

Ventura Entertainment Group Ltd. announced its intention yesterday to merge with Artists & Entertainment, a niche marketer in the entertainment and education segments.

Ventura Entertainment Group said it entered into a non-binding letter of intent involving various transactions that, if completed, “will have a significant effect on the company.”

The transactions include the merger of Artists & Entertainment and a Ventura unit in which Artists & Entertainment will gain a 70% stake in the company.

In turn, Ventura, a holding company that owns a 58% stake in Harmony Holdings Inc. and 58% of Producers Entertainment Group, will issue its shareholders common shares in its two majority-owned units.

A spokeswoman for the company said it hasn’t yet determined how much common stock in the two units Ventura holders will get.

Also, Ventura plans to issue $ 500,000 of preferred stock to raise cash for the merged companies.

Ventura said the transactions “will enable the company to significantly expand its operations by providing additional equity capital, resources and management.”

The transactions must, among other things, be approved by shareholders of Ventura.

More Biz

  • Harvey Weinstein and Benjamin BrafmanHarvey Weinstein

    Can Harvey Weinstein, the Poster Boy of #MeToo, Get a Fair Day in Court?

    Ventura Entertainment Group Ltd. announced its intention yesterday to merge with Artists & Entertainment, a niche marketer in the entertainment and education segments. Ventura Entertainment Group said it entered into a non-binding letter of intent involving various transactions that, if completed, “will have a significant effect on the company.” The transactions include the merger of […]

  • Chuck Panama Dead: Longtime Industry Publicist

    Chuck Panama, Longtime Industry Publicist, Dies at 93

    Ventura Entertainment Group Ltd. announced its intention yesterday to merge with Artists & Entertainment, a niche marketer in the entertainment and education segments. Ventura Entertainment Group said it entered into a non-binding letter of intent involving various transactions that, if completed, “will have a significant effect on the company.” The transactions include the merger of […]

  • Bruce Willis and Paul Bloch'A Good

    Remembering Paul Bloch: 'He Wasn't Just a Character, He Had Character' (Guest Column)

    Ventura Entertainment Group Ltd. announced its intention yesterday to merge with Artists & Entertainment, a niche marketer in the entertainment and education segments. Ventura Entertainment Group said it entered into a non-binding letter of intent involving various transactions that, if completed, “will have a significant effect on the company.” The transactions include the merger of […]

  • Ellen Degeneres Racism

    Entertainment Leaders Set to Celebrate Special Olympics 50th Anniversary

    Ventura Entertainment Group Ltd. announced its intention yesterday to merge with Artists & Entertainment, a niche marketer in the entertainment and education segments. Ventura Entertainment Group said it entered into a non-binding letter of intent involving various transactions that, if completed, “will have a significant effect on the company.” The transactions include the merger of […]

  • Lauren Sivan

    Accuser Lauren Sivan Reacts to Harvey Weinstein's Arrest: 'He Should Be in Jail'

    Ventura Entertainment Group Ltd. announced its intention yesterday to merge with Artists & Entertainment, a niche marketer in the entertainment and education segments. Ventura Entertainment Group said it entered into a non-binding letter of intent involving various transactions that, if completed, “will have a significant effect on the company.” The transactions include the merger of […]

  • Netflix Reed Hastings

    Netflix Stock Closes at All-Time High, Nudging Market Cap Ahead of Disney's Again

    Ventura Entertainment Group Ltd. announced its intention yesterday to merge with Artists & Entertainment, a niche marketer in the entertainment and education segments. Ventura Entertainment Group said it entered into a non-binding letter of intent involving various transactions that, if completed, “will have a significant effect on the company.” The transactions include the merger of […]

  • Mario Batali

    Mario Batali's Three Las Vegas Restaurants to Close Following Harassment Allegations

    Ventura Entertainment Group Ltd. announced its intention yesterday to merge with Artists & Entertainment, a niche marketer in the entertainment and education segments. Ventura Entertainment Group said it entered into a non-binding letter of intent involving various transactions that, if completed, “will have a significant effect on the company.” The transactions include the merger of […]

More From Our Brands

Access exclusive content