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Microcap & Penny Stocks : Emerson Radio Corp (MSN) -- Ignore unavailable to you. Want to Upgrade?

To: Rod Copeland who wrote (2089)	12/21/1998 6:40:00 PM
From: Tony Rome	Respond to of 3501

ROD AND ALL, Below is another release with some old news, and some new news attached. MERGER---TAKE COMPANY PRIVATE----New words to add to the existing reports.Hmmmm,Im concerned how Emerson would fare in this situation. Sport Supply to Hire Banker, Says Oaktree Acquired 5% Stake Farmers Branch, Texas, Dec. 21 (Bloomberg) -- Sport Supply Group Inc., a direct mail marketer of sporting goods, said Oaktree Capital Management LLC acquired a 5 percent stake, and that Sport Supply will hire an investment adviser to help it explore alternatives, including a sale, to help boost its stock price. Sport Supply said Oaktree, a Los Angeles-based investment partnership, has acquired 382,945 shares of Sport Supply's 7.41 million shares outstanding over the past year. The price Oaktree paid for the stake wasn't disclosed. Oaktree on Friday offered to buy a controlling stake in Sport Supply's largest shareholder, Emerson Radio Corp., from Emerson's chairman and chief executive, Geoffrey Jurick, for $14.6 million in cash. Parsippany, New Jersey-based Emerson owns 2.27 million shares of Sport Supply, plus warrants to buy another 1 million shares at $7.50 each. Jurick, who is also chairman and chief executive of Sport Supply, said that while Oaktree is one of the few investors to notice that Sport Supply's shares are undervalued, its offer for Emerson is ''unrealistically low.'' He said Emerson's ownership in Sport Supply alone is worth about $16 million, not including the warrants. ''While we appreciate the sudden strong interest in Emerson and Sport Supply, we do not intend for Emerson and Sport Supply to be acquired for less than their true value,'' Jurick said in a statement. Sport Supply shares have fallen about 30 percent from a high this year of 10 1/16 on April 22 to yesterday's close of 7. The shares are down about 26 percent since the April 1991 initial public offering at 9 1/2. Farmers Branch, Texas-based Sport Supply said Emerson beneficially owns a 39 percent stake in Sport Supply. If Oaktree gains control of Emerson, it will own about 44 percent of Sport Supply. Sport Supply President John Walker said the company is hiring an investment banker to help it consider its alternatives. In addition to a sale of the company, options include a merger or taking the company private, he said. Sport Supply primarily serves schools, government agencies, military facilities, athletic clubs, youth sport leagues and recreational organizations. Its stock rose 3/4 to 7 3/4 in midafternoon trading. Emerson was unchanged at 1/2