RMS TITANIC INC (SOST) Message Board

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Microcap & Penny Stocks : RMS TITANIC INC (SOST)

SOST 0.00590

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Sep 27 5:00 PM EST

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To: Sam Biller who wrote (154)	4/21/1999 11:24:00 PM
From: Sam Biller	of 217

RMS Titanic licenses rights to SFX Wednesday April 21, 5:59 pm Eastern Time NEW YORK, April 21 (Reuters) - RMS Titanic Inc. said Wednesday it has licensed the exclusive worldwide rights to exhibit the artifacts recovered from the Titanic to SFX Entertainment Inc. (SFXE - news) for a guaranteed payment to RMS Titanic of a minimum of $8.5 million annually. RMS Titanic reported revenues of about $8.3 million for the first nine months of fiscal 1999. The licensing agreement has an initial term of one year, beginning Sept. 14, 1999. SFX also has an option to extend the term for up to four more one-year periods. RMS Titanic was granted salvor-in-possession rights to the wreck of the Titanic by a United States federal court order in 1994. The court, in awarding those rights, recognized the commitment of RMS Titanic to keep the Titanic artifacts together as a collection for public exhibit and not for sale to private collectors. SFX promotes, produces and operates venues for live entertainment events, mostly music concerts, in the United States. SFX also develops and manages touring Broadway shows.

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