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WGL Entertainment Holdings Inc. announced it has closed a broadcast license agreement with Zcom Networks Inc. on Sept. 4.

The agreement between Calabasas, Calif.-based Zcom and the Lake Mary-based TV production company will grant Zcom non-exclusive broadcast rights to all of WGL's programming, which includes the WGL Million Dollar Shoot Out.

Financial details of the transaction were not released.

The deal will also result in 15 million shares of Zcom's common stock being distributed to WGL shareholders cash advance. As of Oct. 1, all WGL shareholders will receive one share of Zcom stock for every 500 WGL shares owned.

WGL Entertainment Holdings Inc. (PINKSHEETS: WEHI) is a television production company. Zcom Networks Inc. (PINKSHEETS: ZCMN) is a media broadcasting and shopping network company that targeting early start-up telecom, media and technology companies.

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