BigStar Entertainment Announces Sale of Direct Marketing Division.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 29, 2000 BigStar Entertainment Inc. (Nasdaq:BGST BGST Bradley Gunnery Skills Test ) today announced the sale of its direct marketing division, Advaya, to Expression Engines Inc., based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Terms of the transaction were not disclosed. This transaction is consistent with the previously announced board decision in October 2000 to engage BNY BNY Bank of New York Capital Markets Inc., a division of The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , as the company's financial advisor to assist in evaluating strategic opportunities, including the possible sale of assets. About BigStar Entertainment BigStar Entertainment operates bigstar.com, a leading Shop-A-Tainment(TM) destination site, based on internal analysis of traffic, sales and other metrics. Bigstar.com is exclusively dedicated to filmed entertainment products, selling over 45,000 videos and digital video discs See DVD. Digital Video Disc - Digital Versatile Disc (DVDs). BigStar's offering of more than 8,000 movie trailers, served through its BigStar Broadband Theater, is among the largest on the Internet. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: BigStar Entertainment has included in this news release certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning potential future events and developments affecting BigStar's business, operations and financial condition. Examples of forward-looking statements include, but are not limited to, "can be," "expects," "may affect," "may depend," "believes," "estimates," "anticipates," "projects" and similar words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. . Such forward-looking statements are subject to various known and unknown risks and uncertainties, and BigStar cautions readers that any forward-looking information provided by or on behalf of BigStar is not a guarantee of future performance. Actual results could differ materially from those anticipated in such forward-looking statements due to a number of factors, some of which are beyond BigStar's control, in addition to those discussed in BigStar's other news releases, public filings and statements by BigStar's management, including (i) the highly volatile and competitive nature of the Internet industry; (ii) changes in domestic and foreign economic and market conditions; (iii) the effect of federal, state and foreign regulation on BigStar's business; (iv) issues related to BigStar's entry into new markets; and (v) the effect of any future acquisitions. All such forward-looking statements are current only as of the date on which such statements were made. BigStar does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events. For a description of additional risks and uncertainties, refer to BigStar's filings made from time to time with the Securities and Exchange Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion