Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : AETTQ - Alliance Entertainment - Largest Music Distributor -- Ignore unavailable to you. Want to Upgrade?

To: TokyoMex who wrote (24)	1/7/1998 5:02:00 PM
From: wlheatmoon	Respond to of 169

News from 12/30/97 CORAL SPRINGS, Fla., Dec. 30 /PRNewswire/ -- Alliance Entertainment Corp. (BB: AETTQ) said today that it plans to consolidate its Santa Fe Springs, California, warehouse operations into its Coral Springs facility. At the same time, the Company said that it will continue operations at its Abbey Road facility in downtown Los Angeles, and maintain a tele-sales force in the Southern California area. The Company said that shipping from the Santa Fe Springs location would cease as early as January 17, 1998, and that all remaining warehouse activities would be transferred to Coral Springs no later than February 28. "Management has developed an aggressive business plan aimed at streamlining operations and maximizing operational efficiencies. This, along with several other actions the Company has taken in the past few months, will further solidify the foundation for our successful emergence from Chapter 11," said Eric Weisman, Alliance's president and chief executive officer. "The consolidation of our warehouse operations will be transparent to our customers," Mr. Weisman said. "Our sales operation will remain in place, and customers can be assured that there will be no interruption in their service." The Coral Springs facility, an $8 million, 240,000 sq. ft. distribution center, opened in October 1996. Since then, it has served as the headquarters for the Company's One-Stop Group, with all finance, purchasing, sales, marketing, creative services and information technology operations managed from the location. Alliance employs approximately 550 in Coral Springs, which will now become headquarters for all Alliance operations. The Company said that the consolidation would result in the elimination of approximately 150 distribution and warehouse positions in Santa Fe Springs. Alliance Entertainment Corp. is the largest wholesaler of prerecorded music and related products. In addition, Alliance through its Concord and Castle subsidiaries, is a developer and marketer of catalog content in several genres. The Company currently employs approximately 1,100 people in the United States, Canada and the United Kingdom. On July 14, 1997 Alliance Entertainment Corp. and 14 of its subsidiaries voluntarily filed petitions to reorganize under Chapter 11. Excluded from the filing were certain businesses in the Company's Proprietary Products Group, including Castle Communications, the Company's U.K.-based catalog and re-issue label, and St. Clair Entertainment, its Canadian subsidiary. The Company's Red Ant Entertainment unit was sold in August 1997. Forward-looking statements herein are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company "believes," "expects," "anticipates," or words of similar import. Similarly, statements that describe the Company's future plans, objectives, estimates or goals are forward-looking statements. There are certain important factors that could cause results to differ materially from those anticipated by forward-looking statements made herein. Investors are cautioned that all forward-looking statements involve risks and uncertainty. SOURCE Alliance Entertainment Corp. -0- 12/30/97 /CONTACT: Sandra Sternberg or Brenda Adrian of Sitrick And Company, 310-788-2850/

To: TokyoMex who wrote (24)	1/7/1998 5:05:00 PM
From: wlheatmoon	Read Replies (3) \| Respond to of 169

More news-excerpted from 12/9/98 Info on new CEO and CFO Prior to being named chief operating officer of Alliance, Eric Weisman directed all new business development, strategic planning, information technology and marketing activities for the Company. Mr. Weisman joined Alliance from Premiere Artists Services, where, as chief operating officer, he directed activities in conjunction with the firm's representation of artists including Frank Sinatra, Liza Minelli, Sammy Davis, Jr., and Steve Lawrence and Eydie Gorme. At Premiere, Mr. Weisman also had responsibility for overseeing Corporate Entertainment Productions (CEP), an entertainment marketing joint venture with Burson-Marsteller and Young & Rubicam. In a related announcement, Alliance said that its Board has appointed David Hawthorne as chief financial officer, effective immediately. Mr. Hawthorne has been acting in that capacity on an interim basis since the resignation of Timothy Dahltorp in November. Prior to joining Alliance, Mr. Hawthorne was involved in the turn around of several financially troubled companies. Most recently he served as chairman and chief executive of Servico Hotels & Resorts, where he directed its successful reorganization and emergence from Chapter 11. Mr. Hawthorne has also served as executive vice president and chief financial officer of Kendavis Holding Company, where he was involved with its successful reorganization through Chapter 11. He has also worked with Zolfo Cooper & Company, in New York, and Gardinier, Inc. U.S. Phosphoric Products of Tampa, Florida. Mr. Hawthorne holds a B.A. degree from the University of South Florida and an M.B.A. from the University of Tampa.