Childrens's Broadcasting Corporation Signs Letters Of Intent To Sell Seven Radio Stations.MINNEAPOLIS--(BUSINESS WIRE)--Feb. 19, 1998--Children's Broadcasting Corporation (CBC (1) (Cell Broadcast Center) See cell broadcast. (2) (Cipher Block Chaining) In cryptography, a mode of operation that combines the ciphertext of one block with the plaintext of the next block. ) (Nasdaq NMS See NetWare Management System. : AAHS AAHS American Aviation Historical Society AAHS Aromatic Acid: H+ Symporter AAHS American Association for Hand Surgery AAHS Athens Area High School (Pennsylvania) AAHS Ambridge Area High School (Pennsylvania) ) announced today that it has entered into several letters of intent for the sales of seven of its radio stations in major markets, and that it will be seeking shareholder approval in May or June for the sale of all or substantially all of its radio stations. CBC has received significant interest from potential purchasers of its radio station properties following the January announcement of the failure of Global Broadcasting Global Broadcasting LLC. is a broadcasting company in the United States. Global is based in Delaware and is jointly owned and operated by media veterans Kevin O'Brien and Robinson Ewert. Company, Inc. to close upon the purchase of CBC's radio stations. The sale of the stations are subject to various contingencies, including reaching definitive agreements, regulatory approvals, shareholder approval and customary closing conditions. Christopher T. Dahl, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "Based upon market interest in our radio stations to date, CBC believes that prospects are good for receiving offers that will approach amounts which CBC was to receive under the Global agreement which was submitted to, and approved by, CBC shareholders in January." CBC creator if "Aahs World Radio(SM)" a live, 24-hour satellite radio network and multi-media concept for today's kids and families, is the beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial of 40.7% of the outstanding shares of Harmony Holdings, Inc. (Nasdaq: HAHO), one of the largest television commercial production companies in the U.S. CONTACT: Children's Broadcasting Corporation, Minneapolis Christopher T. Dahl, 612/330-9500 |
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