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Technology Stocks : Audio and Radio on the Internet- NAVR -- Ignore unavailable to you. Want to Upgrade?

To: zurdo who wrote (1911)	12/9/1998 6:50:00 AM
From: Fred Thornell	Read Replies (3) \| Respond to of 27722

"NEWS" " NEWS" " Navarre Corporation Unveils Interactive "Business to Business" Internet Commerce Site for Retailers; Retailers Can Now "Listen, Click & Purchase" Music CD's, DVD Videos and Computer Software MINNEAPOLIS--(BUSINESS WIRE)--Dec. 9, 1998--Navarre Corporation (Nasdaq: NAVR) today unveiled its "business to business" interactive wholesale Internet commerce site which provides the Company's retail customers with the ability to "listen, click and purchase" music CD's, DVD videos and Computer software for store resale. www.navarre.com allows major retailers to preview the latest home entertainment products, process large orders, make payment arrangements and receive immediate shipment confirmation directly from the Navarre warehouse using the UPC "state of the art" based-tracking 14 line Bar Code system. Also through the Resource Center, retailers can access, download and utilize the graphics that are displayed by record labels, movie studios and software publishers to facilitate their advertising requirements. Navarre is a leader in exclusively distributing independent music labels, such as Vonda Shepard's label, Vespar Alley, Kenny Rogers' Dreamcatcher Entertainment and Mannheim Steamroller on American Gramaphone; maintains over 40 percent market share of entertainment software bought through distribution (according to PC Data); releases to alternative retail markets major studio recording artists such as Garth Brooks, Mariah Carey and the Backstreet Boys; and DVD videos. Eric Paulson, President and CEO of Navarre stated, "Navarre is now a premier wholesale Internet distributor, serving the needs of major retailers in the U.S. and Canada. Today we provide retailers with the same convenience that the individual consumer has had for years, to preview and order the newest music, software and DVD movies over the Internet, but now in the quantities necessary for retail store chains. Our strategic plan has always focused on providing the best possible service to our core customer base, the major buyers of home entertainment products - the retail stores. We feel we now have carved out a piece of the Internet commerce industry - interactive wholesale distribution on the Internet." Navarre Corporation's major business groups are: Computer Products Division which publishes and distributes quality consumer software to retailers nationwide; Independent Music Distribution which is the major distributor of independent music labels in the United States and now Canada; ARM which distributes major label music to non-traditional retail outlets; DVD Home Video distribution; and the majority-owned subsidiary NetRadio Network is the premier Internet radio network featuring 150 channels of originally programmed audio content at: netradio.net(TM), and its online stores, CDPoint (http://CDPoint.com(TM) and SoftwarePoint (http://SoftwarePoint.com(TM). NEWS"

To: zurdo who wrote (1911)	12/9/1998 10:08:00 AM
From: StockDung	Respond to of 27722

Paulson was lucky that they did not ask this question? Navarre falls on insider sale news Two company executives filed to sell 329,000 shares By Darren Chervitz, CBS MarketWatch Last Update: 4:30 PM ET Dec 3, 1998 NewsWatch MINNEAPOLIS (CBS.MW) -- Navarre Corp. shares fell 19 percent after two executives registered in filings with the Securities & Exchange Commission to sell about 330,000 shares in the company. Navarre (NAVR) shares closed off 1 15/16 to 7 15/16. The stock rose from about 5 7/8 last Wednesday to as high as 27 earlier this week after the music and software distributor's chief executive told CBS.MarketWatch.com on Nov. 25 that the company "was working ... diligently" to file for an IPO of its NetRadio online unit. See related story. CEO Eric Paulson then proceeded to register 200,000 shares of Navarre for possible sale, according to NewsTraders.com, an online news service which tracks insider trading Form 144 filings with the Securities & Exchange Commission. Form 144 filings report an insider's intent to sell shares and do not necessarily confirm that the transactions took place or will take place. When the shares are sold, an executive must then file another form with the SEC, such as a Form 4, to record the sales. Many of these documents are filed only on paper and are not included in the SEC's electronic database, so they can be tough for investors to find. If the transactions did occur at the time Paulson filed the Form 144s (Nov. 27 and Nov. 30), the executive would have raised about $3 million from the stock sales. Paulson founded Navarre in the 1980s. Navarre board member Charles E. Cheney also registered to sell 129,900 shares of common stock between November 11 and November 30 with a market value of about $1.9 million, according to SEC documents compiled by NewsTraders.com. A Navarre spokesman said that the story on CBS.MarketWatch.com "gave [the executives] an opportunity by creating a liquid market to be able to exit and cash out a small portion of their stakes in the company." The spokesman could not confirm the shares were actually sold. If the sales took place, Paulson still owns more than 2.2 million shares of Navarre, not including options, according to SEC documents. In the Nov. 25 story, Paulson, who was contacted by CBS MarketWatch, declined to discuss a specific timetable for the IPO filing, citing SEC regulations, saying only that the company has hired an investment bank to handle the offering and is "working on [the filing] as diligently as possible." He also declined to talk about other specifics of the IPO, including the name of the banker working on the offering and the percentage of NetRadio that Navarre plans to sell to the public. The company spokesman would only say that Navarre, which recently hired a new chief financial officer, is waiting to find a new chief before it files for the IPO. For the time being, Paulson is also operating as NetRadio's chief executive. Navarre initially said it intended to file for a NetRadio IPO in July but never gave a specific timetable for the offering. "They need to get a CEO in place first, and they're not going to hire someone just to hire someone," said the spokesman. "This is not a delay in the filing, just a step in the process."