Minneapolis-based Century Park Pictures Corp. announced yesterday that it has completed the private placement of $ 1.5 million in securities consisting of units containing two common shares and warrants for a two-year period to purchase two additional common shares.
In a press release, Century Park said the placement provides it with the operating capital to expand its present production activities and to move forward with “an aggressive acquisition program.”
“Watch where we are a year from now,” said Tom Scallen, Century’s chief executive officer, who cited lower prices are the momentum behind the company’s acquisition program in a telephone interview.
He said the company is interested in purchasing network-affiliated television stations and other entertainment properties. “There are oppportunities to do deals now that there weren’t two years ago,” he said.