GERMANY: Team Entertainment Germany and Red Bull Form Global Alliance
The announcement was jointly made today by Erhart Puschnig, TEAM Entertainment Germany's CEO and by Drew S. Levin, Chairman and CEO of TEAM Communications Group, Inc. TEAM International will handle the exclusive worldwide distribution under the agreement. TEAM will also have an option to market several Red Bull high-class extreme sports specials in the next year.
Although Red Bull is known globally for creating, producing and sponsoring some of the world's most extreme athletic events for the youth and sports markets (which mirrors the demographics of its high energy drink), Reef Seekers marks the first time that the company is producing a major television event under it's banner.
"This is an exciting new venture for TEAM Entertainment, Germany and we are delighted to be working closely with Red Bull to provide compelling, high-action specials for today's ardent sports enthusiasts," said Levin. "Given today's positive broadcast climate for the extreme sports venue globally, we look forward to a long and mutually successful relationship with one of the world's premium energy drink providers," concluded Levin.
Puschnig added, "This new agreement is very much in line with our board-approved mandate to develop global content for Germany and Europe with strong creative and financial potential for the worldwide marketplace."
Reef Seekers is the world's first big-wave surfing contest where twelve of today's top surfers, including Chayne Heran and Daryl "Flea" Virostko, are towed by high-powered WaveRunners into waves too big to paddle into. Shooting this month off King Island near Tasmania, Australia, specially developed extreme cameras will capture spectacular professional surfing maneuvers directly in the path of Australia's renowned monster waves and through the extremely treacherous reefs. Production on the initial one hour special is on going and will be completed by mid November. It should be available for worldwide broadcasters immediately thereafter.
TEAM Communications Group, Inc. currently owns and distributes over 4,000 hours of programming worldwide, in addition to producing a wide variety of programming for leading U.S., German and international broadcasters. TEAM maintains offices in Los Angeles, Munich (through its TEAM Entertainment Germany (GmbH) and London (through its TEAM Dandelion Operations). Its shares trade on NASDAQ-NMS (Nasdaq:TMTV) and on the German Neuer Markt (TME).
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