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Pastimes : The OTCBB Garbage Dump
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To: LANCE B who wrote (2167)9/14/1999 4:02:00 PM
From: Sprintcar  Read Replies (2) of 2942
 
QBID should roll

COMTEX) B: (QBID) Triangle Broadcasting to Sweeten
Offer to Triangle
B: (QBID) Triangle Broadcasting to Sweeten Offer to
Triangle MultiMedia Limited
for Business Combination

PALM SPRINGS, Calif., Sep 14, 1999
(ENTERTAINMENT WIRE) -- Triangle
Broadcasting Company (OTCBB:GAAY) announced today
that it is increasing
its share offer to Triangle MultiMedia Limited
(OTCBB:QBID) for the
purposes of facilitating a Business Combination.

Management has requested that Triangle MultiMedia
Limited "sticker"
their current proxy to include the increased offer.
Previously,
management had offered a 1 share for 1 share
exchange. The new offer is
three and three-quarter shares of GAAY for each share
of QBID. The
offer is made to the QBID shareholders based upon the
following items:

(1) Net Asset Value of each company.
(2) Number of shares outstanding in each company.
(3) Management of each company.
(4) Share Price and Market Capitalization of each
company.

Shareholders of QBID will be asked first to consider
the new offer in
their current proxy. If the offer is not accepted by
QBID shareholders
each company will continue as an individual entity. If the
offer is
accepted then it will need to be ratified by GAAY
shareholders in a
proxy within the next 30 days following the end of the
QBID proxy
period. If GAAY shareholders do not ratify the
combination ratio then
each company will go on as individual entities. If GAAY
shareholders do
ratify the combination ratio then the companies will be
combined into a
new entity also called Triangle MultiMedia Limited on a
ratio of three
and three-quarter GAAY shares to one QBID share.

Due to a potential conflict of interest with GAAY
shareholders neither
management nor Frank Olsen will vote any of their GAAY
shares. The
decision to combine or not combine on the proposed
ratios is solely in
the hands of the public shareholders of GAAY at that
point. Prior to
the GAAY proxy, if it is needed, independent appraisals
of QBID's
assets and liabilities will be available for review by
GAAY
shareholders in the offices of Triangle MultiMedia
Limited.

Triangle MultiMedia is in the process of beginning its
audit so that it
may become a reporting company. If these audits are
available to
management on a completed or nearly completed basis
they too will be
made available to the shareholders of Triangle
Broadcasting Company.
Additionally a business plan for Triangle MultiMedia will
be available
to GAAY shareholders for review if complete at the
time of proxy.

Safe Harbor Statement Under the Private Securities
Reform Act of 1995:
The statements contained herein that are not historical
facts are
forward looking statements that are subject to risks and
uncertainties
that could cause actual results to differ materially from
those
expressed in the forward looking statement. There is no
guarantee that
the shareholders of either company will accept this
offer of a business
combination. Investors at this and other stages of this
transaction are
subject to a high degree of risk and can lose up to their
entire
investment on both companies at anytime.

Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: Triangle Broadcasting Company
James French, 760/322-1217

WEB PAGE: businesswire.com

GEOGRAPHY: CALIFORNIA

INDUSTRY CODE: ENTERTAINMENT
INTERACTIVE/MULTIMEDIA/INTERNET

Today's News On The Net - Business Wire's full file on
the Internet
with Hyperlinks to your home page.

*** end of story ***
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