Frederiksen Sets Sail With American Champion EntertainmentThe Frederiksen Group, Falls Church, VA, said yesterday that the company has signed a letter of intent with American Champion Entertainment, Hayward, CA, for the company to acquire 100 percent of both The Frederiksen Group and Television Ventures Inc., Frederiksen's affiliate.
The deal will cost ACEI $15 million in stock and cash, pending final terms of the arrangement. After all legalities are cleared, Lee Frederiksen, chairman/CEO at The Frederiksen Group, will assume the post of CEO at ACEI, and Thomas Redding, president and chief operating officer at Frederiksen, will become COO at ACEI. Anthony Chan will continue as president of ACEI, and George Chung will remain chairman.
ACEI is a media company specializing in sports and family entertainment. Current projects undertaken by its American Champion Marketing Group include FunSchool.com, the computer animated cartoon series ReBoot, and Consor, which handles brand management and consultation for Turtle Wax, Skippy, Body By Jake and X-Acto.