American Senior Golf Association Executes Television and Radio Broadcast Rights Agreement with Global Affiliated Broadcasters Inc.Business Editors ELIZABETH CITY Elizabeth City, city (1990 pop. 14,292), seat of Pasquotank co., NE N.C., a port of entry on the Pasquotank River (which, with the Dismal Swamp Canal, forms part of the Intracoastal Waterway); settled mid-1600s, inc. 1793. , N.C.--(BUSINESS WIRE)--Dec. 10, 2001 ASGA ASGA American Student Government Association ASGA American Singles Golf Association ASGA American Society of Golf Course Architects ASGA Alaskan Shellfish Growers Association ASGA Aggramar Small Guild Alliance (gaming, World of Warcraft) Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ASGG) Monday announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , American Senior Golf Association Inc., (ASGA), which owns and operates the premier intermediary professional golf tour in the country, has executed a television and radio broadcast rights agreement with Global Affiliated Broadcasters Inc. Under the terms of the agreement, ASGA will receive rights fees of $5 million in total for 2002 and 2003 broadcast rights representing a total of 30 events to be televised for the 2002 and 2003 Tour. In addition, the Tour will receive the benefit of its own weekly television magazine show. Under the terms of the agreement ASGA is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to pay production costs for the broadcast not to exceed $1.5 million in the aggregate for each year of the term. "The key to the growth of every significant sports organization is television. This agreement will provide our corporate partners a significant media platform, which should aid us in our ability to provide increased purses and increased public awareness and interest in the Tour," stated Tom Kidd, president and chief executive officer of ASGA. "We are delighted to be involved with the ASGA and their exciting new professional golf tour," said John Naugher, president of Global Affiliated Broadcasters Inc. "There has been a major void between the PGA Tour and the Senior PGA Tour for some time and this intermediary tour will effectively bridge that gap. "We plan to bring a bold, fresh approach to the tour which will encourage golf fans around the world to take notice." About ASGA Inc. ASGA is the parent company of the American Senior Golf Association Inc., which owns and operates the country's premier intermediary professional golf tour conducting tour caliber events for PGA Tour professionals 45 years of age and older, who are preparing for the Senior PGA Tour and non-exempt professionals on the Senior PGA Tour. Tour events are week-long events with Junior Clinics, pro-ams, entertainment, leader boards, hospitality, with local market charities benefiting from the event. ASGA also owns and operates Transportation Safety Lights Inc., a wholly owned subsidiary, involved in the business of manufacturing and marketing of safety light products for the transportation industry. About Global Affiliated Broadcasters Global Affiliated Broadcasters Inc., a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation (GSP GSP Good Scientific Practice GSP Generalized System of Preferences GSP Gross State Product GSP German Shorthaired Pointer (dog breed) GSP Geometer's Sketchpad (KTP Technologies geometry software) GSP Georges St. ), was formed for the purpose of operating Global Sports Promotions and the Global Sports Entertainment Network. Each of these organizations provides a wide range of services and products to the sports media industry. Among the events GAB has been involved with over the years include: NCAA NCAA abbr. National Collegiate Athletic Association College Football; International Pro Wrestling
WBA World Boxing Association WBA Weekly Benefit Amount WBA Wisconsin Broadcasters Association (Madison, WI) WBA Wireless Broadband Access and WBC WBC white blood cell; see leukocyte. WBC abbr. white blood cell WBC, n stands for white blood cell. World Championship Boxing; and Pro Jet Ski Series. This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion