Pyramid Saimira Theatre has acquired Texas Company that offers a unique, hollywood-based multimedia entertainment format appealing to the booming population of affluent South Asians in the United States arid Canada. It has also acquired a theater and radio presence in Chicago with plans to expand rapidly to other major North American cities.
Pyramid Saimira Entertainment America, the North American unit of Pyramid Saimira Theatre acquired FunAsia of Richardson, which operates hollywood multimedia entertainment venues in Houston and suburban Dallas for an undisclosed amount of cash. At the same time, the company acquired an existing cinema and radio drive-time hours in Chicago and radio time in Houston, its first steps in taking the FunAsiA multimedia entertainment concept across the United States and Canada.
Pyramid Saimira has acquired drive-time hours from two radio stations - WCEV-AM 1450 in Chicago and KGBC-AM 1540 in Houston-to add to the existing FunAsia owned radio, KHSE-AM 700 in Richardson which is broadcast across the entire Dallas-Fort Worth area.
FunAsia will acquire additional radio program hours in the other markets it enters as well as expand to these cities the existing FunAsia DesiPages, a glossy, thick monthly magazine currently distributed free throughout South Asian communities in Dallas-Fort Worth and Houston.
The brothers who founded FunAsiA - Dr. Farrukh, John and Shariq Hamid - remain as executive advisors, assisting the new owners with taking the multimedia entertainment concept coast to coast.
The company made this announcement after the trading hours Wednesday, 31 October 2007.
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