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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: HandsOn who wrote (67627)	4/12/1999 9:41:00 AM
From: Mr. Big	Read Replies (2) \| Respond to of 119973

Trade imbalance on NDB - rumored EGRP takeover...

To: HandsOn who wrote (67627)	4/12/1999 9:42:00 AM
From: Money Maker (MM)	Respond to of 119973

YHOO, my own target still $225. DLJ's target at $300. MM

To: HandsOn who wrote (67627)	4/12/1999 10:22:00 AM
From: Mr. Big	Respond to of 119973

Hollywood.com -> CBS Corporation and Big Entertainment (BIGE) Announce $100,000,000 Equity For Promotion Deal CBS to Receive 35% Equity Stake in hollywood.com hollywood.com to be Widely Promoted on CBS NEW YORK and BOCA RATON, Fla., April 12 /PRNewswire/ -- CBS Corporation (NYSE: CBS - news) and Big Entertainment, Inc. (Nasdaq: BIGE - news) today announced that they have signed an agreement in principle for CBS to receive a 35% ownership position in a new joint venture company, which will own hollywood.com. In exchange, the new joint venture, to be called hollywood.com, will receive $100,000,000 of CBS promotion and content across the full range of CBS properties. Big Entertainment will own 65% of the joint venture. CBS will also receive warrants to increase its ownership by 5% for additional promotion or cash. hollywood.com is a premier online movie service devoted exclusively to movie information and news. The announcement was made by Mel Karmazin, President and Chief Executive Officer, CBS, and Mitchell Rubenstein, Chairman and Chief Executive Officer, Big Entertainment. Big Entertainment recently announced a definitive agreement to acquire hollywood.com from Times Mirror; that transaction is expected to close during the second quarter of 1999. The agreement generally provides for CBS Television Network, the CBS Television Stations Division, CBS Cable and Infinity Broadcasting Corp., which includes more than 160 radio stations, to promote hollywood.com during broadcasts pursuant to a 7-year promotional schedule. Additionally, to provide greater reach for advertisers, CBS has agreed to incorporate advertising for the hollywood.com brand with the CBS Television Network and CBS Plus, CBS's cross-media sales organization. With the creation of this alliance, hollywood.com will become a leading Internet source of movie entertainment on CBS Television Network. CBS will bring to hollywood.com the full entertainment news gathering resources and viewership of CBS while also providing sales, marketing and branding support for hollywood.com. As part of the alliance, CBS has also agreed to provide certain entertainment content to hollywood.com to enhance the hollywood.com user experience. Speaking of the alliance with Big Entertainment in hollywood.com, Mr. Karmazin said: ''Success on the web -- as in other media -- is all about the development of strong, branded franchises. hollywood.com is already on its way to becoming just such a franchise which is why we're excited to join them with our strong branding, promotion, marketing and content. We believe our partnership can help hollywood.com become the hottest entertainment site on the Internet.'' CBS Corporation previously entered into equity-for-promotion agreements with Sportsline USA, Inc. and CBS MarketWatch.com. Current ownership stakes are approximately 20% and 38%, respectively. Today, the market value of CBS's investment in both of these companies far exceeds half a billion dollars. Mr. Karmazin added: ''We're still at the beginning of our Internet strategy. Our goal is to be as strong a player in new media as we are in the established media of television, radio and outdoor. This investment and alliance with Big Entertainment in hollywood.com joins with those in CBS Sportsline USA and CBS MarketWatch to give us equity in exciting companies that enjoy growing markets for their information, content and services.'' ''hollywood.com is already one of the premier movie entertainment sites on the Web,'' stated Mr. Rubenstein. ''The CBS and BigE hollywood.com partnership will position hollywood.com to be the Internet's number one movie entertainment destination.'' Wasserstein Perella & Co., Inc. initiated this transaction and acted as financial advisor to Big Entertainment. Completion of this transaction is subject to execution of a definitive agreement, customary closing conditions, and approvals by the companies' boards of directors.