*****************************NEWS!****************************
June 10, 1999 09:45
Media Concepts Inc. Completes Acquisition of
Multi-Media Showroom and Establishes New
Corporate Headquarters
SAN DIEGO--(BUSINESS WIRE)--June 10, 1999--Media Concepts Inc.
(OTCBB:MDCE) today announced that the acquisition of Golden Section Inc., a privately held California corporation doing business as Multi-Media Showroom which was previously announced as a signed letter of intent has now concluded the acquisition.
Multi-Media Showroom will operate as a wholly owned subsidiary of Media Concepts Inc.
"We are very excited to add Multi-Media to the Media Concepts organization," stated Gerry Berg, chief executive officer of Media Concepts Inc. "Erik Vidrio, president of Multi-Media Showroom was also named president of Media Concepts and appointed to the Board of Directors."
"This is a great opportunity for both Media Concepts and Multi-Media to expand and penetrate new markets," stated Vidrio. "Today the company has the technology to capitalize its position in a number of markets. Multi-Media Showroom has been designing cutting edge home theater and home automation systems for years and now sees Media Concepts as the perfect vehicle to offer these services to a larger audience. We now can add the expertise of a movie production facility along with the designers, programmers and technicians of Multi-Media Showroom and capitalize on the Internet's emerging technologies. I look forward to being a part of the company's growth."
In addition, the company announces the opening of its new corporate
headquarters in San Diego. The new address is 8810 Rehco Road, Suite A, San Diego, 92121. The new telephone number is 619/824-1992.
"This facility will house the operations of Media Concepts and Multi-Media Showroom," stated Berg. "This will give us the opportunity to consolidate operations into one location."
"Having all of the management team in one location will strengthen our focus," stated Vidrio, "and help improve our product quality."
Media Concepts' new corporate headquarters will house all of the company's engineering, sales and marketing, customer support, accounting, production and warehousing. The new location has facilities for a new product demonstration showroom.
Media Concepts Inc. is a diversified entertainment and media technology company that focuses on emerging technologies as they relate to media, entertainment and education.
Multi-Media Showroom is a leader in the design, engineering and construction of high quality home automation and home theater systems.
This release may contain forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements, including but not limited to the timing and development of emerging technologies. Although Media Concepts Inc. believes that the forward-looking statements contained herein are reasonable, it can give no ssurance that the expectations are correct. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement.
CONTACT: Media Concepts Inc., 619/824-1992 |
