Sorry, I should not have assumed you all knew what I was thinking...
Enclosed is a release from earlier in the month.
Last time I saw one like it, the company slowly faded away and then filled.
02/02 10:02 Recovery Network Retains Investment Banking Firm to Explore
Strategic <RNET.O>
Recovery Network Retains Investment Banking Firm to Explore Strategic Alternatives
SANTA MONICA, Calif.--(BUSINESS WIRE)--Feb. 2, 1999--Recovery Network Inc. (Nasdaq:RNET) Tuesday announced that it has entered into an investment banking agreement with G. Howard Associates Inc., a private investment banking firm, whereby G. Howard Associates will advise the company on merger and acquisition strategies, capital raising activities, strategic investment partners and corporate development opportunities.
William Moses, chairman and CEO of Recovery Network, stated: "Aside from its outstanding reputation on Wall Street, G. Howard Associates Inc. was a logical choice for Recovery Network given our long standing relationship with its managing director, George Henry. George currently serves on our company's executive committee and intimately understands the strengths of the Corporation. As such, he is best suited to evaluate the numerous opportunities being presented to Recovery Network and subsequently advise our board accordingly."
George H. Henry of G. Howard Associates Inc. added: "It is clear that Recovery Network is gaining sure momentum in achieving notable U.S. market penetration. This has created tremendous added value in the company which is capturing the attention of several significant players operating in the cable television industry. The historical trend in this industry has been for successful networks, such as Recovery Network, to be acquired by one of the majors. Recovery Network may elect to pursue this strategy at this time, opt only for a strategic investment partner, or entertain other financing or strategic growth opportunities. We intend to carefully and intelligently explore all of these situations on a case by case basis and pursue only those which deliver the most value to the company's shareholders." About G. Howard Associates Inc. |
