MMIC news ... October 11, 1999 09:56
Multi-Media Industries Corp. Announces Acquisition
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NEW YORK--(BUSINESS WIRE)--Oct. 11, 1999--Multi-Media Industries Corp. (OTC BB:MMIC) has entered into a letter of intent to acquire Hall of Fame Partners Inc. through an exchange of shares.
Hall of Fame Partners will build and operate the National Big Band and Jazz Hall of Fame Museum, which will do for music what Cooperstown did for baseball. Cities currently being considered are Hollywood; Palm Springs, Calif.; and Chicago.
Multi-Media Industries, a development stage company in the Internet and entertainment fields, is the holding company for Auctionfun.com, Randall Entertainment and Century Records.
Auctionfun.com is very close to launching its new Web site and unique methodology for individual self-auctions. Randall Entertainment owns a library of films, while Century Records holds a library of records.
In a two-hour television special, the music that defines America ... the music that gave birth to Rhythm & Blues and Rock & Rap ... the music that still has toes tapping and people swinging from coast to coast ... will inaugurate its very own Hall of Fame, in a performance driven special that will quickly become one of network television's most highly regarded annual events.
Hosted by a contemporary superstar, each of the Hall of Fame Inductions will be introduced by a major celebrity who is a giant fan of the artist. The first year will see the induction of Louis Armstrong, Duke Ellington, Ella Fitzgerald, Frank Sinatra, Benny Goodman and Glenn Miller.
Premier Television Marketing President Robert Lombardo has secured $10 million in corporate sponsorship and advertising for the inaugural television special.
Robert Alexander, chief executive officer of Hall of Fame Partners Inc., said, "In the 20th century, there was only one art form that was truly American and is still thriving as we begin the new millennium. That art form is jazz."
This news release contains forward-looking statements relating to future revenues and operating information and their impact on future results. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors such as market conditions, product life cycles, consumer delays in purchasing products, technology shifts, potential difficulties in the introduction of new concepts and products, competition, price sensitivity and the uncertainty of continuing market acceptance of the company's products by distributors, retailers and consumers.
CONTACT: Multi-Media Industries Corp.
Samy Salem, 201/307-8758
or
Hall of Fame Partners Inc.
Robert Alexander, 760/320-3128
or
Princeton Research
Mike King, 888/689-8018 |
