HOLLYWOOD, Calif. — Another bailout is on the way, this one in the form of a reality television series.
Reality guru Mark Burnett is teaming up with ABC for a show that offers a bailout to struggling entrepreneurs, according to The Hollywood Reporter.
In the new series, titled "Shark Tank," anxious entrepreneurs will pitch their business ventures to five multimillionaire tycoons. Their hope is to walk away with the cash, instead of going home empty-handed. Barnett said the current economic climate could boost viewer interest.
"People are looking to be entrepreneurs to get ahead, yet there's no way anybody can go into a bank right now and get a loan," he told the trade publication. "For these entrepreneurs, these sharks are their last stop."
The series is an adaptation of the U.K. reality hit "Dragon's Den" and marks the the first collaboration between ABC and Burnett, who has popular shows on the other three major television networks.
The sharks will include Robert Herjavec (Internet security systems), Kevin Harrington (infomercials), Barbara Corcoran (real estate), Kevin O'Leary (well-known Canadian investor) and Daymond John (FUBU sportsware).
The program's airdate has yet to be finalized, but it is expected to debut next season.
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