THE WB AND PEPSI COMBINE FOR A ONE-OF-A-KIND SUMMER AS THEY TEAM UP FOR GROUND-BREAKING SHOWS, "PLAY FOR A BILLION" AND "PEPSI SMASH"
BURBANK, CA (April 9, 2003) - The WB Network and Pepsi-Cola North America today announced a partnership for two major summer programming initiatives that will include the development of PLAY FOR A BILLION, a live television special in which a contestant will have the chance to win $1 billion and PEPSI SMASH, a six-week series that will feature performances by today's top musical acts.
PLAY FOR A BILLION, which will be produced by Michael Davies ("Who Wants to Be a Millionaire?") guarantees a $1 million winner who will then have the chance to play for $1 billion. There is a one in 1000 chance that the $1 billion will be awarded.
The show, set to air in September, will be the culmination of Pepsi's summer promotion, "Pepsi Play for a Billion," which hits stores May 1. Here's how to play:
Beginning in May on specially marked Pepsi products, check for a sweepstakes entry code or $15 instant win notification under the caps of 20-ounce and 2-liter products, on 12- and 24-packs, or on stickers on select fountain cups.
If you find a sweepstakes entry code, enter the code on the secure web site (http://www.billionsweeps.com
) or mail it to the address on the package.
In the sweepstakes, one thousand consumers will be randomly selected throughout the summer and offered a trip to appear on the live television broadcast.
The 1,000 contestants on the show will play a game of chance and guts to determine the $1 million prizewinner. The $1 million winner will then play for $1 billion without forfeiting the $1 million prize. If won, the $1 billion prize will be awarded in the form of a 40-year annuity with a balloon payment in the final year, or the contestant may instead elect to receive a lump sum payment representing the present value of the annuity.
Pepsi has taken out an insurance policy with an insurance subsidiary of Berkshire Hathaway in the event that someone wins the billion-dollar prize.