An interesting tidbit from NM's past (taken from FY95 10-K):
COMPANY HISTORY
National Media is the successor to National Paragon Corporation, a
company engaged in the needlecraft business for more than 60 years, which filed for bankruptcy in 1985. Emerging from bankruptcy in 1986, the Company acquired an infomercial business, Media Arts International ("Media Arts"), as part of its plan of reorganization. In September 1990, the Company was approved for listing on the New York Stock Exchange. In April 1991, the Company sold National Syndications, Inc. ("NSI"), its specialty catalog/mail order business, and focused on developing its infomercial business. In June 1991, the Company acquired out of bankruptcy the business and assets of Quantum Marketing International ("Old Quantum"), a competitor in the infomercial business, which had a European operation. Since the beginning of fiscal 1992, the Company implemented a strategy involving the recruitment of management personnel with experience in the direct-response industry, the improvement of its product development and product sourcing practices, the acquisition of in-house product fulfillment and customer service capabilities, the expansion of current operations into the international marketplace and the development of other distribution outlets particularly through its strategic partners and retail stores. |
