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GENE SIMMONS To Take NGTV Cable Channel Public

February 22, 2006

According to Hits Daily Double, the companion web site of music industry tip sheet HITS, KISS entrepreneur Gene Simmons is looking to start a cable channel featuring uncensored footage of celebrities and launch it with an IPO (initial public offering, defined as the sale of equity in a company, generally in the form of shares of common stock, through an investment banking firm). As Chairman of the Board of Beverly Hills start-up NGTV (for "No Good TV"),Simmons and the Boca Raton, FL, investment firm of Capital Growth Financial filed papers with the SEC two weeks ago to take the company public. According to the filing, NGTV will produce raunchy programming for pay TV, featuring more than 150 celebrities from which the company claims to have previously unseen footage. If the initial $6-per-share offering on the American Stock Exchange sells out, it will raise an estimated $125.6 million.

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