| | BMII NEWS!
Blagman Media Finalizes Deal and Acquires Century Media
Business Editors
LOS ANGELES--(BUSINESS WIRE)--March 22, 2002--
Merger Creates Major Direct Response Marketing Enterprise,
Named Blagman-Century Media Inc; Adds $40,000,000 to BMII Revenues
Blagman Media, Inc. (OTC:BMII) confirmed that it has completed its
acquisition of Century Media Inc. (www.centurydr.com) adding
approximately $40,000,000 to annual billings. Combined billings should
reach $50,000,000 in 2002 and $100,000,000 in 2003.
Robert Blagman, CEO stated, "I view this acquisition as a turning
point for BMII. In earlier statements I served notice that BMII will
do whatever it takes to become a beacon of change in the advertising
industry. With our resources and strong history of success, the
combined Blagman-Century Media will have the technology and strength
to meet the demands of a booming and changing direct response
industry.
"Our combined portfolio of clients places Blagman-Century Media
solidly on the path of industry leadership. I intend to further
empower our already strong staff by adding well-known leaders from the
industry. What we have accomplished to date is a true testament to our
resolve and drive for success. Again I thank our many shareholders
that have continued to support us. I am very aware that being a
shareholder of BMII is quite an adventure -- it's going to get more
exciting as we move further into this decade of change.
"Many dedicated individuals have worked for over two years to
accomplish what we have created today. Blagman-Century Media can now
blaze a new path in advertising as a fully integrated direct marketing
agency. The effort that went into this new approach is a great
motivator and certainly an inspiration for all involved."
He added, "For those of you who know the industry, I intend to
bring back the spirit and drive that Katie Williams created with
Williams Media, the predecessor of Century Media. Williams Media was a
true innovator of our modern industry and I feel that the Williams
legacy of over 250 advertising awards, commendations and huge client
success will set a foundation for synergistic growth.
"As a public company we will now move ahead with our SB2 filling,
which was put on temporary hold to allow for full financial disclosure
of the combined entities. We will also finalize our annual 10K report
but expect to request an extension due to these important company
developments."
Both staffs will work together under the Blagman-Century name
operating out of the Santa Monica location; BMII corporate offices
will remain in Century City. The full workforce totals 40
professionals.
The financial aspects of the transaction were not disclosed; BMII
confirmed that Century shareholders received stock and cash and that
BMII does not intend to pursue any new stock offering to finance the
economic requirements of the merger.
Blagman Media International, Inc., a Los Angeles based global
direct response marketing and advertising agency, is located at 1901
Avenue of the Stars, Suite 1710, Los Angeles, Calif. 90067. (For more
information on Century Media Inc., visit their website at:
www.centurydr.com ).
The foregoing news release contains forward-looking statements.
For this purpose, any statements contained in this news release that
are not statements of historical fact may be deemed to be
forward-looking statements. Without limiting the foregoing, words such
as "may," "will," "expect," "believe," "anticipate," "estimate,"
"continue," or comparable terminology are intended to identify
forward-looking statements. These statements by their nature involve
substantial risks and uncertainties and actual results may differ
materially depending on a variety of factors.
--30--AMP/la* RS/la
CONTACT: Metromedia Investment Services / PR.
Jesse Boskoff, 212/979-2962
metromediallc@yahoo.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: ADVERTISING/MARKETING MERGERS/ACQ
SOURCE: Blagman Media, Inc.
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Mar-22-2002 14:00 GMT
Symbols:
US;BMII
Source BW Business Wire
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