Vancouver: Deadlines to finalize a deal between Peace Arch Entertainment and the backers of the new 22-episode series AKA Picasso were bumped a week to Dec. 17.

Citing its role as a public company, however, Peace Arch is not specifically commenting about whether the deal is in the offing but has taken steps to correct information that has appeared in this and other papers.

The series is about a glamorous art thief who swaps his trade secrets with a covert government agency instead of taking a lengthy prison term. The series would star and be produced by Baywatch veteran David Hasselhoff, who plays the jewel thief.

But according to Peace Arch spokesperson Tina Baird, the Picasso deal no longer involves former Paramount/mgm executive Frank Yablans and no decision has been finalized regarding a shooting location.

Because the series takes place in major cities, speculation suggests the series will be shot in Toronto because it offers more big-city facades than Vancouver. If the series goes ahead and shoots in Toronto, it will be the first series that Peace Arch does outside of Vancouver.

Baird adds that North American distributor BKS Entertainment is also no longer involved in the project.

Germany-based Movie Factory Film and u.s. coproducers Larry Mortorff and Jan McCormack back the series. Ian Edwards