If anyone figures this out feel free to let me know what it means;
WEST PALM BEACH, Fla., Sept. 27 /PRNewswire/ -- In a form 8-K to be filed
with the Securities Exchange Commission, Media Vision Productions Inc.
(OTC Bulletin Board: MVPI) announced its intent to acquire Littlefield Adams &
Company (OTC Bulletin Board: FUNW) in a transaction approved by the Directors
of both Companies. Pursuant to the agreement, MVPI will tender 1.2 shares of
MVPI Common Stock in a tax-free exchange for 100% of the 4,660,000 fully
diluted FUNW shares outstanding. Management has been advised the resultant
balance sheet together with a second round of equity financing announced
September 1, 1999 should allow MVPI common stock to meet listing requirements
for Nasdaq upon filing of the consolidated financial statements. Arthur
Andersen and Company have been retained for this purpose.
The Company also reported that John P. Sgarlat, the Founder and CEO of
National Media Corporation, a $250,000,000 electronic marketing company, has
executed a long-term contract to serve as Chairman and CEO of MVPI. Former
National Media Vice President and Corporate Secretary, William H. Campbell,
has formally joined MVPI as Director of Investor Relations. In the "pre-
Internet" era of direct response marketing, Sgarlat and Campbell transformed
National Media from the "pink sheets" in bankruptcy into a NYSE listed Company
with over 5000 shareholders. Sgarlat stated: "Television driven...Internet
sales and the retail distribution added with the acquisition of Littlefield
Adams & Company will provide even greater opportunity for Media Vision
Productions Inc., MVPI, a small-unknown public company will be used as a
"vehicle" to "roll-up" of four larger e-Commerce-related companies," Sgarlat
said. Littlefield Adams & Company is the second of these acquisitions.
MVPI has a five-year agreement with Independence Public Media Philadelphia
TV-35 to produce network quality programming for distribution to the 351
Public Broadcast Television Stations with 101,000,000 weekly viewers
nationwide. Under this agreement, the Company retains the rights to all brand
names, products and licenses related to the shows. As the shows debut
nationally, products will be target-marketed through specifically designed
Internet Sites, Direct Response Campaigns and Retail Promotions. The existing
Littlefield Adams & Company alliances with Wal-Mart, Kmart, Target and Sears
will greatly enhance the retail component of the MVPI Business Model. Sgarlat
highlighted significant economies of scale achieved in the combination of the
Companies including consolidation of all corporate, licensing and marketing
functions at MVPI headquarters in West Palm Beach, Florida. Littlefield Adams
& Company's acting CEO and Chief Financial Officer, John J. Tsucalas, will
become Chief Financial Officer and Chief Operating Officer of MVPI.
"The vertical integration of Littlefield's retail distribution with the e-
Commerce marketing strength of MVPI should have a dramatic long-term impact on
earnings. In addition to its present licenses with WCW, Garfield, Pepsi, King
of the Hill and the Simpsons, the Littlefield sales force will now offer a
full range of MVPI proprietary brand names and licenses featured on television
shows and high-profile Internet sites developed by MVPI. The "Content" MVPI
produces through nationally syndicated television programs and related
Internet sites will generate brand recognition and consumer demand for the
MVPI product lines. Media Vision Productions Inc. is a vertically integrated
e-Commerce marketing company based in West Palm Beach, Florida, currently
trading on the OTC Bulletin Board under the symbol MVPI. Littlefield Adams &
Company is a merchandising and licensing company based in Huber Heights, Ohio,
trading on the OTC Bulletin Board under the symbol FUNW.
(The matters discussed herein that are forward-looking statements are
based on current management expectations that involve risks and uncertainties
that may result in such expectations not being realized. Potential risk and
uncertainties include, but are not limited to, the risks described in Media
Vision Productions, Inc. filings with the Securities and Exchange Commission.)
For more information contact, William H. Campbell or Jennifer M. Swanson,
both of Media Vision Productions, Inc., 877-835-0094.
SOURCE Media Vision Productions Inc.
-0- 09/27/1999 R
/CONTACT: William H. Campbell or Jennifer M. Swanson, both of
Media Vision Productions, Inc., 877-835-0094/
/Web site: mvpnews.com /
(MVPI FUNW)
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