BET Holdings Discontinues Color Code Skin Care Product Line.WASHINGTON--(BUSINESS WIRE)--Sept. 25, 1997--BET Holdings Inc. announced today that it would discontinue Color Code, its facial skin care line. The Color Code line, comprised of 12 skin care products including cleansers, moisturizers moisturizers hydroscopic agents, applied to the skin and hair, as creams, rinses or shampoos, to increase hydration of the stratum corneum. Examples are propylene glycol, glycerine and lactate. and specialty products targeted toward women of color, began sales in major retail chains in May of 1996. "We have made a strategic business decision to focus our brand merchandising efforts on products and services more in line with our core businesses in the entertainment and leisure industries" said Janis Thomas, President, BET Direct and Executive Vice President of Brand Marketing and Licensing for BET Holdings Inc. As a result of the discontinuance of the skin care line segment of the business, BET Holdings Inc. will incur a charge of approximately $3 million during the fiscal year ended July 31, 1997. BET Holdings Inc. a media entertainment company publicly traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange : BTV (Business TV) Using television to deliver company information and training to employees in remote branches. BTV uses satellite-based video to regular TV sets or IP-based video over the LAN/WAN to desktop computers and room monitors. ), owns and operates Black Entertainment Television, the nation's first and only national television network providing a platform for quality programming targeted toward African American African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. viewers. BET is currently seen in more than 51 million cable households nationwide as reported by Nielsen Media Research Nielsen Media Research (NMR) is an American firm that measures media audiences, including television, radio, theatre films (via the AMC MAP program) and newspapers. NMR, headquartered in New York City and operating primarily from Oldsmar, Florida, is best-known for the . Recently recognized as the "Company of the Year" by Black Enterprise magazine, BET Holdings, Inc. also owns and operates BET on Jazz: The Cable Jazz Channel(TM), BET Movies/STARZ!(3), BET Action Pay-per-View, Emerge and B.E.T. Weekend magazines, BET Financial Services, and BET SoundStage restaurant. CONTACT: BET, Washington D.C. Michele Moore, 202/608-2003 |
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