SBI Communications to Merge With Valencia

SBI Communications Inc. of Glendale has agreed to acquire Valencia Entertainment International. Under the terms of the merger, Valencia will become a wholly owned subsidiary of SBI and the principals of Valencia will receive a majority interest in SBI common stock.

Valencia is a vertically integrated entertainment conglomerate that includes television production, motion picture production, sports, Internet and real estate holdings. The company has a 120,000-square-foot facility in Valencia.

SBI, a Delaware corporation, is developing interactive satellite-delivered bingo games, game shows and similar entertainment for television and the Internet.