Classics International Entertainment Inc. breaks new ground; announces strategic alliance with Trans World Entertainment Corp.CHICAGO--(BUSINESS WIRE)--Sept. 12, 1995--Richard S. Berger, chairman & 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. of Classics International Entertainment (CIE (Commission Internationale de l'Eclairage, International Commission on Illumination, Vienna, Austria, www.cie.co.at) An international organization that sets standards for all aspects of lighting and illumination, including colorimetry, photometry and the measurement of visible and ) (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 :CIEI CIEI Center for International Environment Information (USA) )(SmallCAP), announced today that CIE and Trans World Entertainment Trans World Entertainment Corporation is a chain of entertainment media retail stores in the United States. It currently operates over 800 freestanding and shopping mall-based stores under several brand names. Corp. (Trans World) (NASDAQ:TWMC TWMC Tunbridge Wells Motor Club (UK) ) have completed a strategic joint alliance agreement to open as many as 100 new comic book/pop culture departments inside of existing Trans World stores beginning within 45 days and continuing through 1996 and possibly beyond. The first four departments are scheduled to open in time for the Christmas selling season and are located in Rochester and Albany, N.Y.; Trumbull, Conn. (metropolitan 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 in a fourth location, to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. soon. Moondog's CIE's 15-store retail chain, is widely regarded as a leader and pioneer in bringing comics and pop culture merchandise out of the cult collector market and into mainstream America. Trans World is one of the largest entertainment retailers in the country and operates over 600 stores under the names Record Town, Music Town, Tape World, Saturday Matinee, combination stores of Record Town and Saturday Matinee, Movies Plus, Coconuts, and F.Y.E. (For Your Entertainment). ``Trans World is glad to form this relationship with CIE and develop this concept,'' said Robert Higgins, chairman, president and CEO of Trans World. ``We believe its unique product mix has the potential to allow us to better serve our core customer group and become a profit center as Moondog's enters more of our stores.'' ``Comic book/pop culture retailing is a very specialized field and our departments will carry Moondog's proven combination of merchandise and be staffed with dedicated, knowledgeable employees who are passionate about what they are selling. Rarely, if ever, do entertainment stores have employees who are specialists dedicated to selling particular merchandise, especially comic books and pop culture items. This is what makes our strategic alliance so special. This is probably a first in entertainment retailing and it's also what gives us (CIE and Trans World) such a strong competitive advantage,'' according to Gary Colabuono, CIE president. According to Berger, this strategic alliance comes as the result of over nine months of discussions with Trans World. ``We expect this strategic alliance to be the first in a series for us. We have one of the strongest teams in our industry and strategic alliances are the best way possible to leverage our talent, open stores faster in proven locations on a shared cost basis and to create enduring and long term value for our shareholders. We are currently involved in discussions with other major strategic partners,'' Berger stated. Classics International Entertainment Inc., headquartered in Chicago, is the parent company of Moondog's, a chain of comic book and pop culture stores, and First Classics Inc., publisher of Classics Illustrated graphic novels and several other comic book titles and characters. Classics International Entertainment Inc. is publicly traded on the SmallCAP market of the NASDAQ stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol CIEI. Interested parties may obtain additional information on Classics International Entertainment Inc. by contacting CIE's investor's communications department at 800/569-CIEI (2434). CONTACT: Channel Marketing Inc., Chicago Gary Matt, 312/280-0292 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion