Towers Productions Restructures

CHICAGO, January 6: In
reorganizing its current business lines, Towers Productions will now operate as
three stand-alone companies, with separate entities for TV production,
post-production and media services and equipment rentals.

Towers Productions will
now focus solely on the production needs of its television programming clients,
while Towers Post serves as a separate post-production and media services
company and Towers Rentals functions
as an equipment rental company. Mike Schmiedeler will serve as managing
director for Towers Productions, and Trevor Park has been named managing
director for Towers Rentals. Corinne Whitney is managing director for Towers
Post. All three companies will continue to be based at Towers Productions'
current location in the West Loop area of Chicago.

Jonathan Towers, the
founding shareholder and chairman of Towers Holdings, and COO of Towers
Productions, said: "This new structure will allow us to get closer to and
better serve our clients. It's the culmination of our efforts over the past two
decades to build a first-class facility and to become a leader in the areas of
television production and media services."

William Fisher, the CEO of
Towers Holdings, added: "By breaking our existing structure into its three
constituent parts, we are creating more nimble businesses, each with greater
focus and scope for success. We believe that freeing up these businesses to
identify new clients and opportunities is an entrepreneurial response to the
challenges we are facing in the television business, the Chicago market and the
broader economy."

—By Kristin
Brzoznowski