.....LOS ANGELES, April 7 /PRNewswire/ -- Joseph Naughton, Chairman, Jones Naughton Entertainment (OTC Bulletin Board: JNNE - news) reported today that the previously announced acquisition of all of the assets of the COMMUNITY MARQUEE division of Sign Products of America, Inc. has been completed. This was a cash transaction; financial terms were not disclosed.
.....COMMUNITY MARQUEE operates audio visual information systems custom designed to provide free, instant, site-specific information to consumers. The state of the art electronic kiosks developed by COMMUNITY MARQUEE allow students to access instant information on school facilities, as well as many off-campus businesses and services not available to the general public by the touch of a button. These information centers are modeled after extremely successful service centers found at airports and tourism centers. Advertisers pay an annual fee to place an illuminated ad panel on the system. Consumers are exposed to the ad and can immediately contact the advertisers to inquire about available goods and services via the integrated telephone based communication system. Nine systems have been installed or approved at universities and colleges in Southern California. ''We plan to rapidly expand the COMMUNITY MARQUEE system throughout the U.S. as quickly as possible,'' added Mr. Naughton. ''The universities are very open to this concept because of the generous site-fee paid to the school and the added value of intra- campus connections from the telephone based call center.''
.....Jones Naughton, additionally announced that it has entered marketing alliances with five regional advertising agencies throughout the U.S. ''We are in negotiations with fifteen new universities and expect to broaden distribution of these systems in the near future,'' added Patrick M. Rost, Director of Business Development. Included in the marketing alliance is the firm M. Harper, Inc. publisher of the Business Page of South Dakota. Matt Swalley, a twenty-year veteran of the advertising and marketing industry and President of M. Harper Inc. stated that, ''We are extremely excited about this new alliance with the COMMUNITY MARQUEE system. Initial inquiries into the university
markets throughout the mid-west have yielded a very high level of interest. Additionally, we are exploring the tourism markets by placing information systems in rest stops and tourism centers along
interstate highway systems.''
.....COMMUNITY MARQUEE already has in place a solid core of national advertisers that will provide the base advertising group for each new system. ''We anticipate having the majority of ad panels pre-sold before we enter a new market,'' stated Mr. Rost. ''Once we get a site approved, we will engage local advertising agencies to fill the remaining spots with nearby companies creating a cohesive mix of national, regional and local advertisers. This strategy will optimize cash flow and allow us to grow our business in a extremely rapid pace.''
.....CONTACTS: Automated Shareholder Communication System, 888-209-7223; or Joseph Naughton, Chairman, 714-736-0899, or Patrick M. Rost, Director of Business Development and Corporate Communications, 888-847-5663, both of Jones Naughton Entertainment, Inc.; or Matt Swalley, President of M. Harper, Inc., 605-336-2218. |
