NEWS... From a pure internet perspective, this is the best news this company has ever had... The acquisition of a profitable portal will allow a hastened approach to e-commerce. Wait til we see the web page that Activision puts together for us... Does everyone comprehend what we have here???
Thursday July 15, 7:02 am Eastern Time
Company Press Release
USURF America Acquires Web Portal USURF.com
Company Adds E-Commerce Gateway to Wireless Internet and Dial-up Services
BATON ROUGE, La.--(BUSINESS WIRE)--July 15, 1999--USURF America, Inc. (OTC BB: USRF), formerly Internet Media Corporation, announced today that it has entered into a definitive agreement to acquire the Web portal site ''www.USURF.com''. USURF.com is an e-commerce gateway for Internet consumers to over 100 of the most popular Internet retail destinations. USURF.com operates under revenue-sharing arrangements with these popular Internet sites, which include Microsoft Corp. (Nasdaq: MSFT - news), Amazon.com Inc. (Nasdaq: AMZN - news), Disney.com (NYSE: DIS - news), eToys Inc. (Nasdaq: ETYS - news), GoTo.com Inc. (Nasdaq: GOTO - news), Priceline.Com Inc. (Nasdaq: PCLN - news), Dell Computer Corp. (Nasdaq: DELL - news), CDNow Inc. (Nasdaq: CDNW - news), ESPN The Store (NYSE: DIS - news), J. Crew, OfficeMax.com (NYSE: OMX - news) and Automall. The acquisition was made on an all-stock basis and is scheduled to close before the end of July 1999.
''This acquisition, when combined with our recent hiring of an integrated marketing firm to create a national image for our company, fits in nicely as part of USURF America's strategy of becoming a widely-known national Internet Service Provider (ISP), an ISP that can offer much more than just a generic dial-up account,'' said David Loflin, President of USURF America. ''USURF.com is far more streamlined than your typical web portal * with one click, you can get to a list of your favorite sites and favorite categories. Plus, USURF.com is profitable, and, for us, is a strategically important name to acquire,'' Mr. Loflin stated.
Following the acquisition of USURF.com, USURF America will own many iterations of the USURF domain name, including usrf.com, usurfamerica.com, usurfamerica.net, usurf.net, yousurf.com and yousurf.net -- each of these domain names will take Web surfers to USURF America's Internet home page.
USURF America also intends to employ USURF.com as a platform from which it expects to launch soon its national e-commerce portal, ''www.e-tail.com''. USURF America believes it will, through direct marketing to its over 29,000 ISP customers, significantly increase traffic to the USURF.com Internet site.
USURF America also plans to offer ''click-through'' and commission revenue-sharing arrangements, through the USURF.com and e-tail.com web portals, to non-affiliated local independent ISPs. The company expects this strategy to generate an increase in traffic to its e-commerce Internet sites.
USURF America's Web site is: www.usrf.com.
Investor relations contact: Matthew Marcus, IBChannel, 949/442-8919; www.ibchannel.com.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements involve a number of known and unknown risks and uncertainties that may cause USURF America's actual results or outcomes to be materially different from those anticipated and discussed herein. These include its historical lack of profitability, the need for additional capital, end-use customers' acceptance of new products and actual demand, which may differ significantly from expectations, the need for USURF America to manage its growth, and other risks associated with a development-stage company.
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Contact:
USURF America Inc.
James Kaufman, 805/493-9273
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