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USRF Closes $15 Million CyberHighway Acquisition;
Company to Combine Dial-up with USRF's Big Bandwidth
"DSL Killer" Technology to Expand National Presence
Business Wire - February 01, 1999 09:10
BATON ROUGE, La.--(BUSINESS WIRE)--Feb. 1, 1999--Internet Media Corporation (OTC BB:
USRF) (pronounced you surf) announced today that it had completed its acquisition of
CyberHighway, Inc., a Boise, ID-based ISP servicing over 25,000 customers in 80 cities, including
Boise, Phoenix and Scottsdale, AZ, Portland, OR, and Salt Lake City, UT, in 11 states. Internet
Media acquired CyberHighway for 2,000,000 of its restricted common shares.
"By adding our breakthrough Wireless Internet products to the already profitable operations of
CyberHighway, we expect to be able to set the standard for ISPs as we enter the new millennium,"
said David Loflin, Internet Media's President. "We will start today with our plan to deliver Wireless
Internet access in every one of the 80 cities currently served by CyberHighway. All new
CyberHighway markets will offer customers both traditional dial-up Internet access and Wireless
Internet access, a marketing approach eagerly awaited by CyberHighway's experienced personnel,"
continued Loflin. Loflin reiterated his earlier statement that the current management of CyberHighway
would be kept in place, and added that CyberHighway's President, Bill Basham, would also serve as
Chief Operating Officer of Internet Media, while Loflin would continue as President and Chief
Executive Officer. "Bill Basham and the CyberHighway team's accomplishments to date have included
the rapid and profitable expansion of an ISP that serves more than 25,000 subscribers in 80 cities
located in 11 states, as well as extensive experience in deploying its own Wireless Internet access
system," stated Loflin.
When asked for comment, Basham stated, "We [CyberHighway] were one of the first ISPs to deploy
big bandwidth Wireless Internet access, and after a two-year search were unable to find a technology
that would enable us to meet the unprecedented demand for low-cost wireless bandwidth, all the way
up to T1 speeds. That is until now. We will abandon our current wireless technologies in favor of the
Internet Media 'DSL Killer' technology that has the flexibility, pricing and performance not only to
meet that demand for wireless Internet access, but may actually give us a competitive advantage over
companies like Lucent (NYSE: LU - news), Winstar Communications (Nasdaq: WCII - news) and
Telligent (Nasdaq: TGNT - news). Digital subscriber lines (DSL) technology uses existing copper
telephone wiring to deliver its data service."
Loflin added, "The established CyberHighway network will enable Internet Media to deploy our
Wireless Internet access system far more rapidly than would otherwise have been possible, which
should allow the Internet Media ISP concept to compete successfully with national ISPs, like America
Online (NYSE: AOL - news), Microsoft (Nasdaq: MSFT - news), EarthLink (Nasdaq: ELNK -
news), Verio (Nasdaq: VRIO - news), AT&T (NYSE: T - news) and Mindspring (Nasdaq: MSPG -
news), and regional ISPs, such as Micron (NYSE: MU - news) and Rocky Mountain Internet
(Nasdaq: RMII - news). We couldn't have picked a more compatible ISP with which to join forces.
We also feel that in our goal of becoming a National wireless and dial-up ISP with a local presence,
the acquisition should enable us to deploy a unique E-commerce model which will allow us to compete
with companies like eBay (Nasdaq:EBAY - news), Amazon.com (Nasdaq:AMZN - news), iMall
(Nasdaq:IMAL - news) and Shopping.com (OTC BB:IBUY news)."
CyberHighway is a full-service ISP, offering its services, directly and through licensees, to residential
and business customers in each of its 80 markets. Additional information regarding CyberHighway can
be obtained by visiting its web site, www.cyberhighway.net.
Further information concerning USRF can be obtained by visiting www.internetmediacorp.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
which are subject to contingencies and uncertainties. Such forward-looking statements are not
guarantees of future performance, are subject to numerous risks, including a failure of Internet Media
to secure adequate funding, and are based on numerous assumptions about future conditions that could
prove to be inaccurate. Actual events, transactions and results may differ materially from anticipated
events, transactions or results described herein.
CONTACT: Internet Media Corp., Baton Rouge
Jim Kaufman, 805/493-9273
www.internetmediacorp.com
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%LA-INTERNET-MEDIA USRF LU %LOUISIANA %IDAHO %ARIZONA %UTAH %OREGON
%COMPUTERS %ELECTRONICS %COMED %INTERACTIVE %MULTIMEDIA %INTERNET %MERGERS
%ACQ V%BW P%BW
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