Picked up GLNC on RTO news;
ENCINO, Calif.--(BUSINESS WIRE)--Oct. 19, 1999--Glenhills Corp.
(GLNC.OB) announced today that the company has signed a letter of
intent with Millennium Multi-Media Inc.
Under terms of the agreement, Glenhills Corp. will be acquiring
100% of the outstanding capital stock of Millennium Multi-Media. A
definitive purchase agreement is scheduled to be signed no later than
Dec. 15, 1999.
Millennium Multi-Media is a modern Internet entertainment company
embracing traditional and digital communication modes to provide a new
age of entertainment content to consumers in the United States and
around the world. At a time when traditional distinctions between
various entertainment segments are blurring, Millennium capitalizes on
its wealth of managerial expertise in the industry and its
affiliations with leading media corporations to advance the
transformation of the global entertainment market.
Leading the way on the management side for Millennium is Charles
Weber, the former CEO & President of Lucasfilm Ltd. For the past 20
years, Weber has been a successful key executive in the
Entertainment/Communications Industry. As President and CEO of George
Lucas' company, Weber was responsible for all aspects of the company's
operations, including international operations, financing,
negotiations, production, licensing, merchandising, Industrial Light
and Magic and THX. He was also involved in the making of: "The Empire
Strikes Back," "Raiders of the Lost Ark," and "More American
Graffiti."
Presently, worldwide demand for U.S. entertainment is vigorous
and continues to grow at double-digit rates domestically, and even
faster abroad. By utilizing the Internet and technology developments,
Millennium Multi-Media is positioning itself to be a leader in
providing consumers access to a wide variety of entertainment products
and services.
Glenhills Corp.'s wholly owned subsidiary, Access Research Corp.,
which performed market research studies has been closed to make way
for Glenhills Corp. opportunity to capitalize on the growth of the
Internet and multi-billion dollar entertainment industry.
Safe Harbor for Forward-Looking Statements: Except for historical
information contained herein, the statements in this Press Release are
forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Reform Act of 1995.
Forward-looking statements involve known and unknown risks and
uncertainties that may cause the company's actual results in the
future periods to differ materially from forecasted results.
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