ActionScript 2.0 :: Load PHP With HTML Into Dynamic Text Field?

I have the following code:

Code:
myData = new LoadVars();
myText_txt.html = true;
myData.onLoad = function() {
myText_txt.htmlText = this.myVariable;
};
myData.load("events.php");

I have a text box on my page that has an instance name of myText_txt so it should load the data from the events.php into the text field. I've enabled HTML on the text box and made it dynamic and multiline. When I output the PHP file the text box is blank. Here is the PHP file:

PHP Code:

<?php
echo "&myVariable=This is some text. Here is a link: <a href="http://espn.com">ESPN</a><br><br><br> Here is <img src="arrow2_as2" id="arrow2_as2">";
?>

why it won't output any of the HTML text?