RE: GYM--A better play may be to buy shares in MSN, here is why>>
Sport Supply's largest shareholder, Emerson Radio Corporation (Amex: MSN - news), announced on Friday, December 18, 1998 that Oaktree submitted a proposal to acquire more than 29,000,000 shares of Emerson's common stock owned by Geoffrey P. Jurick, the Chairman of the Board and Chief Executive Officer of Emerson and Sport Supply. The 29,000,000 shares are pledged to creditors of Mr. Jurick and constitute approximately 60% of Emerson's issued and outstanding common stock. Oaktree currently beneficially owns approximately 7% of Emerson's issued and outstanding common stock. If Oaktree acquires Mr. Jurick's ownership interest in Emerson, Oaktree will beneficially own approximately 67% of Emerson's issued and outstanding common stock.
Emerson owns 2,269,500 shares of Sport Supply's common stock and warrants to acquire an additional 1,000,000 shares of Sport Supply's common stock for $7.50 per share. Sport Supply has 7,410,703 shares of issued and outstanding common stock, of which Emerson beneficially owns approximately 39%. If Oaktree obtains control of Emerson, Oaktree will beneficially own approximately 44% of Sport Supply.
I have no how far or fast GYM will run, but it's core biz is certainly solid...I-net exposure can't hurt...
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