CHIKARA Purchased

[Xero]

From PWInsider:

The following press release was issued on 1/3, announcing that CHIKARA, one of the more original and unique independent groups running today, was purchased by the California-based Worldwide Media Development Corporation, a company which describes itself as "one of the world's leading and most respected entertainment development companies."

January 3, 2011 - Philadelphia, PA

Worldwide Media Development Corporation (WMDC) of Reseda, CA is proud to announce the acquisition of CHIKARA, Inc./Five Star Promotions of Philadelphia, PA, effective today. Robert Lippincott, Executive Director for WMDC finalized the agreement of sale through the assistance of Karen Wright, acting vice-president of acquisitions.

"Karen (Wright) and Anton (Frady) deserve all the credit for bringing this exciting property to Worldwide. After nine seasons of reinventing an entire genre from the bottom up, CHIKARA is the premiere brand in its field, and it's time for the rest of the world to find out why."

It is expected that some of the directors from CHIKARA/Five Star will remain on during the transitional period. "I understand that Dave Coulier has an office there," Lippincott remarked, "and I'd really look forward to doing lunch with him (laughs.)"