Looks like more good news for MSU. I guess AIME just forgot to credit MSU again !! Thats two press releases in a row. I get the impression that someone at AIME does not want MSU's share price to move in an upwards direction. Any thoughts anyone.
Company Press Release
Hollinger Digital Completes $6 Million Strategic Investment In American
Interactive Media
Hollinger's Richard N. Perle Named To American Interactive Media Board
Of Directors
NEW YORK--(BUSINESS WIRE)--Feb. 18, 1998-- American Interactive Media,
Inc. (AIME; aime-inc.com; OTC BB: AIME - news) announced
today that Hollinger Digital, the new media subsidiary of leading
English language publisher Hollinger International Inc. (NYSE: HLR -
news), has completed a $6 million investment in AIME as part of a
broader strategic relationship between the Companies. Additionally, AIME
announced that Richard N. Perle, 56, Chairman of Hollinger Digital and a
Director of Hollinger International Inc., has joined AIME's Board of
Directors. These announcements follow last Thursday's reported
development and trial agreement for Internet-based consumer
communications service between U S West Communications, Inc. (NYSE: USW
- news) and AIME.
Hollinger Digital has selected AIME's webPASSPORT Network service as an
important part of Hollinger's expansion beyond traditional publishing
into digital distribution of content and advertising. ''Of the services
we reviewed, webPASSPORT provides the greatest value in terms of
functionality, customization potential, ease of use, content offerings
and cost,'' commented Philip Kunsberg, Executive Vice President of
Hollinger Digital. ''We were also very pleased with the depth and
quality of AIME's management team and strategic plan. In our
collaboration with AIME we have already developed many exciting new
business opportunities, and we plan to begin initial market tests later
this year.''
Peter B. Yunich, Chairman and Chief Executive Officer of American
Interactive Media, commented, ''With its extensive range of superior
content and global market presence, Hollinger is an ideal partner to
support our efforts to develop a broad base of users for our webPASSPORT
Network and other proprietary interactive content services. In a short
period, Hollinger has quickly and clearly demonstrated their management
and capital commitment to AIME. We welcome them as partners and
shareholders and are particularly gratified to have the benefit of
Richard Perle's experience on our Board.''
Hollinger Digital's investment in AIME consisted of convertible
debentures, convertible into approximately 2 million shares of AIME
common stock. The investment was funded in two $3 million tranches that
closed in December 1997 and February 1998, respectively.
Mr. Perle was the Assistant Secretary of Defense for International
Security Policy for the United States Department of Defense from 1981 to
1988. He has served as Chairman of Hollinger Digital since August 1996,
as a Director of Hollinger International since June 1994, and as a
member of the International Advisory Board of Hollinger Inc. [Nasdaq:
HLGLF - news] since October 1991. Mr. Perle is also a Resident Fellow of
the American Enterprise Institute for Public Policy Research, a position
he has held since 1987. He has a Master of Arts (MA) degree in politics
from Princeton University and a Bachelor of Arts (BA) degree in
international relations from the University of Southern California.
Hollinger International Inc., through subsidiaries and affiliated
companies, is a leading publisher of English language newspapers in the
United States, the United Kingdom, Canada and Israel. Included among its
paid daily newspapers are the Chicago Sun-Times, The Jerusalem Post,
London's The Daily Telegraph and The Ottawa Citizen. American
Interactive Media, Inc. (AIME) is dedicated to delivering proprietary,
aggregated and licensed digital content and other Internet-based
services. WebFeat, Inc. is AIME's proprietary digital content production
subsidiary.
AIME's principal service, the webPASSPORT Network, provides easy-to-use,
inexpensive Internet access and customized interactive services
delivered to conventional televisions. webPASSPORT utilizes AIME's
proprietary content, hardware, software, Internet browser and back-end
infrastructure. The service is targeted at customers of a range of
potential industries and groups such as telecommunications, banking and
financial services, cable television, utilities, publishing, retailing
and charitable and other affinity organizations.
------------------------------------------------------------------------
Contact:
Investor Relations Contact:
David Collins/Robert Rinderman
Jaffoni & Collins
212/835-8500
collins@jcir.com
or
Media Contact:
Sandra Padnos
Padnos Ink
818/753-4500
padnosink@earthlink.net
or
Hollinger Digital Contact:
Philip Kunsberg
Executive Vice President
212/334-5944
kunsberg@concentric.net |
