"J2 Communications (JTWO) Further Extends Closing Date of Letter Agreement"
LOS ANGELES, Sep 5, 2001 /PRNewswire via COMTEX/ -- J2 Communications (Nasdaq: JTWO chart, msgs), parent company of National Lampoon, on September 5th agreed to further extend, until September 30, 2001, the date for closing the transactions contemplated by the Letter Agreement, dated March 5, among the Company, James P. Jimirro, Daniel S. Laikin and Paul Skjodt.
Pursuant to the extension, Messrs. Laikin and Skjodt now have until September 30th to complete the purchases of the Company's common stock and other securities and certain other payments contemplated by the Letter Agreement.
Messrs. Laikin and Skjodt have paid the Company a non-refundable fee of $100,000 in consideration of the extension.
About J2 Communications
J2 Communications (Nasdaq: JTWO chart, msgs), which owns National Lampoon, one of the leading brands in comedy, is an internet-based, interactive entertainment company. Nationallampoon.com, its newest comedy creation, employs cutting-edge technology to deliver its own brand of biting humor on a highly interactive comedy network created for the Internet. Showcasing hilarious new characters and features, the site debuted in 1999. The Company also sells advertising and merchandise on the site.
National Lampoon is also active in a broad array of entertainment activities, including feature films, television programming, interactive entertainment, home video, comedy audio CD's and book publishing. |
