Choices signs definitive purchase agreement with Palmer Video, Video Junction and J.D. store equipment.MORRISVILLE, Pa.--(BUSINESS WIRE)--July 19, 1995--Choices Entertainment Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Electronic Bulletin Board Symbol CECS CECS College of Engineering and Computer Science CECS Co-operative Education & Career Services (University of Waterloo, Canada) CECS Computer Engineering and Computer Science CECS Center for Embedded Computer Systems ) announced today that Video Junction of Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , Palmer Video of 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 and J.D. Store Equipment of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , have signed a definitive purchase agreement to merge the three companies into Choices Entertainment. The announcement was made by John Maioriello, chairman of Choices Entertainment. Video Junction is a five store chain in Rhode Island. Palmer Video has 44 stores located in metropolitan New York and New Jersey. J.D. Store Equipment is the nation's largest store fixture supplier for the video and music retailing industry. The merger is expected to be completed on or about Aug. 15, 1995. Maioriello noted that upon the closing of this agreement, Choices Entertainment is moving into its new corporate offices in Manhattan Beach, Calif. Choices Entertainment also announced that it entered into a three-year agreement with Unique Business Systems of Santa Monica, to implement a new MIS software system conversion for 300 stores during the company's initial acquisition program. Choices is engaged in the operation of video superstores, which rent and sell videocassettes, videogames and other audio-visual media. CONTACT: Martin E. Janis & Co. Inc. Bev Jedynak, 312/943-1100 |
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