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Strategies & Market Trends : WR's Momentum Trades
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To: Wayne Rumball who wrote (2023)1/4/1999 3:38:00 PM
From: Wayne Rumball  Read Replies (2) of 11130
 
RWBD - news release but they got the symbol wrong. I didn't buy (n so far looks like no one has), maybe it could go when they get the PR right;

Redwood Broadcasting Inc. Announces Planned Internet Radio Venture

PHOENIX (Jan. 4) BUSINESS WIRE -Jan. 4, 1999--Redwood Broadcasting Inc. (OTCBB:
RWBC) Monday announced a change in control and a new strategic focus for 1999.

John Power and J. Andrew Moorer have resigned their positions as officers and from the
board of Redwood Broadcasting and Ron Conquest and Greg Mastroieni are the newly
appointed officers and directors.

In addition, a group of investors led by Andaman Investments, Ltd. has acquired a
controlling interest in the company from a group of selling stockholders.

The change in control represented the first step in Redwood's planned acquisition of
Interactive Radio Group ("INRG") which is developing technically advanced 2D/3D Web
sites and internet content for the radio broadcasting industry.

Conquest and Mastroieni will oversee completion of the acquisition, which is subject to a
definitive agreement and other conditions.

The company also completed the transfer of the majority of its assets and liabilities to
Alta California Broadcasting Inc. As previously announced, shareholders of record as of
Dec. 10, 1998 will receive shares in Alta California Broadcasting Inc. after the shares are
registered pursuant to applicable state and federal securities laws.


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