Casino Journal Publishing Group Announces Extension of Letter of Intent
PR Newswire - July 19, 1999 11:53
LAS VEGAS, July 19 /PRNewswire/ -- Casino Journal Publishing Group, Inc. (OTC Bulletin Board: CJPG) today announced that the Company and BG Media Investors LP have agreed to extend the previously announced letter of intent to August 16, 1999. The two companies entered into a letter of intent which was announced on April 19, 1999 for the purpose of negotiating a transaction whereby BG Media Investors LP would acquire 51% of Casino Journal Publishing Group, Inc.
The closing of the transaction is contingent on the signing of a definitive agreement, approval by the Board of Directors of Casino Journal Publishing Group and the successful completion of a tender offer by BG Media for all outstanding free trading shares of Casino Journal Publishing Group, Inc.
The companies have been unable to reach an agreement in the timetable set by the original letter of intent and the parties mutually agreed that an extension of time on the letter of intent would be needed to continue negotiations.
Casino Journal Publishing Group, Inc. publishes Casino Journal, the company's flagship magazine, and the most widely read trade publication serving the gaming industry; the National Gaming Summary, an extensive weekly newsletter that provides up-to-the-minute gaming news; the Gaming Industry Weekly and Daily Reports and the Daily Lodging Report targeting gaming and lodging executives and investors.
For the gaming consumer, CJPG publishes Casino Player and Strictly Slots, the nation's largest circulation consumer gaming publications, and the Atlantic City Insider, which targets the frequent Atlantic City gambler.
The Company also produces the American Gaming, Lodging and Leisure Summit in conjunction with Bear Stearns & Co. and the law firm of Lionel Sawyer and Collins; the Southern Gaming Summit with the Mississippi Casino Operators Association; the Atlantic City Chamber of Commerce Business Expo, the Northern Gaming Summit in conjunction with the Michigan law firm of Fraser Trebilcock Davis & Foster and Bear Stearns & Co. and UNLV Casino Ops trade shows.
SOURCE Casino Journal Publishing Group, Inc.
/CONTACT: Alan R. Woinski of Casino Journal Publishing Group,
201-599-8484/
/Web site: casinocenter.com
(CJPG) |
