Wake-up call for Dream Team4/02/2000 08:00:00 PM Eastern
Dream Team Inc., the company that teamed with Dean Hamilton Entertainment on the syndicated action hour Dream Team, has filed for Chapter 11 bankruptcy protection in Los Angeles. Previously, the Screen Actors Guild had scheduled an auction of the show's assets in order to pay off debts owed to SAG members. Due to the bankruptcy filing, the auction has been indefinitely postponed, and creditors will be paid according to the direction and determination of the court. According to David Tumaroff, one of the show' s executive producers, SAG members are owed approximately $1.5 million, and Tumaroff and two other producers, Steve Parry and Bob James, are owed about $1 million, collectively. The show's distributor, BKS, is also a creditor. Five episodes aired this season in addition to the two-hour premiere. About $18 million was spent on production of seven hours of programming, the show' s producers say.