It seems hat someone else around here is clarvoiant as well: TCTV signs deal w/ AMEX: "TEL-COM WIRELESS CABLE TV CORP. SIGNS EXCLUSIVE AGREEMENT WITH American Express Tax & Business Services,
Inc. for Capital Markets Analysis & Financial Advisory Services
Business Editors 12/14/98 11:15
MIAMI--(BUSINESS WIRE)--Dec. 14, 1998--Tel-Com Wireless
Cable TV Corporation (Nasdaq:TCTV) announced today that it has signed
an agreement with American Express Tax and Business Services, Inc.
("American Express TBS"), a wholly owned subsidiary of the American
Express Company, under which American Express TBS will provide
financial consulting services to TCTV and its subsidiary, The 5th
Avenue Channel, Inc.
On an exclusive basis, American Express TBS will assist TCTV in
evaluating options for its capital structure and in preparing for and
managing one or more capital transactions.
The 5th Avenue Channel, a soon-to-premiere luxury lifestyles
television channel, will be hosted by Ivana Trump, who serves as Chair
of the Board of the TCTV subsidiary. The Channel will air business
programming in its "5th Avenue Financial" segments; fashion shows,
travel and other lifestyles programs; and shopping opportunities,
including shopping sprees on the Channel's interactive Internet site -
5thAvenueChannel.com.
The new web site launched on Friday, Dec. 11, offering high-end
merchandise and a wide variety of consumer products at very attractive
prices via electronic commerce. Driven in part by its television
programming and media presence, 5thAvenueChannel.com anticipates
attracting shoppers to its site from around the world. Club 5th Avenue
members will be offered, on television and through the Internet,
special shopping opportunities, travel bargains and frequent buyer
benefits.
Ivana Trump stated: "We are very pleased to have American Express
TBS as a financial advisor as we move forward with our business plan
for the television channel and our Internet site."
"5th Avenue Channel's combination of its Internet site and
television channel has already created several opportunities for
strategic alliances with our clients," said Michael Gilburd, Managing
Director of American Express TBS, Phoenix.
American Express TBS is one of the nation's fastest growing
business advisory firms, with more than 50 offices in 18 states. Among
its many services, American Express TBS provides business valuations
for capital markets and other purposes, and financial management
and consulting. These services focus on buying or selling a business,
ESOPs, buyouts, financings, franchise development, strategic planning
and financial structuring for small and middle market businesses.
In addition to its controlling interest in The 5th Avenue
Channel, Inc., TCTV is a provider of wireless cable and satellite
television and other programming for residential and commercial
customers.
Forward-looking statements (statements which are not historical
fact) in this release are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Investors are
cautioned that all forward-looking statements involve risks and
uncertainties, including those risks and uncertainties detailed in the
company's filings with the Securities and Exchange Commission.
--30--gaa/mi*
CONTACT: Tel-Com Wireless Cable TV Corp., Miami
Samuel H. Simkin, Vice President & General Counsel
305/947-3010 |
