To: Peder E. Angvall who wrote (581 ) 3/25/1999 4:21:00 PM From: Specwar Respond to of 639
CHECK THIS OUT, I JUST GOT THIS E-MAILED TO ME! Could be an early morning gapper! Closed UP and VERY strong. Sports Media Inc. Announces First Acquisition PALM DESERT, Calif.--(BUSINESS WIRE)--March 16, 1999--Investors Communications Group Inc., the public relations firm acting on behalf of Sports Media Inc., Tuesday announced an investor's opinion in order to notify analysts, brokers, market makers, institutional and retail investors, as well as media representatives, that its client, Sports Media Inc., a leading sports beverage and promotion company, has started trading under the symbol OTC BB:SPTS Sports Media Inc. announced the acquisition of SGI, the exclusive licensee of the Spalding Sports Worldwide name for the beverage industry. It is currently engaged in the sales and distribution of beverages in the water/sports drink category under such names as ''Spalding Sports Drinks'' and ''Spalding Sports Water Pure Energy'' throughout the United States, Mexico and Canada. SGI has many prominent celebrity athletes active in the promotion of the company as well as shareholders, including such names as Joe Namath, Kiki Vandeweghe, Larry Holmes and Clyde Drexler. According to Beverage World Magazine, in 1997 the fruit beverage, sports drink and bottled water markets accounted for more than $12 billion in retail sales. Sports Media Inc. also announced that along with its acquisition of SGI, it has purchased Surf City Squeeze, a smoothie/juice bar company with over 110 stores in the United States. Surf City Squeeze had over $17 million in system wide sales in 1998. According to Entrepreneur Magazine, the health and nutrition industry is a $17 billion a year business. Board of director member Vandeweghe feels that the acquisitions of SGI and Surf City Squeeze are a natural progression to the healthy lifestyle of the American consumer. The evolution of the smoothie/juice bar concept as a healthy alternative to a meal mirrors the health conscious message that SGI has always tried to convey. The company will continue to do business as Sports Media Inc. This news release contains forms of forward-looking statements that arebased on the company's beliefs as well as assumptions made by and information currently available to the company. Such statements are subject to certain risks, uncertainties and assumptions that are identified and described in the company's registration statements and periodic reports on file with the SEC. ------ Previous