Classics International Entertainment Inc. to be acquired.CHICAGO--(BUSINESS WIRE)--Jan. 14, 1997--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 Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CIEI CIEI Center for International Environment Information (USA) ), announced today that the company has entered into a Letter of Understanding respecting the sale of 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 to Educational Publications Inc., a niche publishing and database marketing company. "EPI EPI exocrine pancreatic insufficiency. is an exciting company," said Berger. "Their programs and publications targeting specific demographics along with CIE's Classics Illustrated library of well respected titles, offer a variety of new avenues to explore." Gary Getto, president of EPI, stated, "The synergy between EPI and CIE will allow us to expand our scope of operation, offering improved programs and opportunities to our customers." As reported in May 1996, CIE entered into Sub-license Agreements with Acclaim Comics Inc. and American Zoetrope Zo´e`trope n. 1. An optical toy, in which figures made to revolve on the inside of a cylinder, and viewed through slits in its circumference, appear like a single figure passing through a series of natural motions as if animated or mechanically moved. (the production arm for Francis Ford Coppola Noun 1. Francis Ford Coppola - United States filmmaker (born in 1939) Coppola ). At this date, Acclaim has already begun publishing Classics Illustrated (complete with "study guides") that are being distributed to book stores and book departments. Business Week and Time have had articles about these new editions of reprinted original Classics. American Zoetrope has not set forth their strategy for Classics at this time, but are considering among other production ideas a Prime Time network television series as part of their interest in family entertainment. They have recently exercised their second six month option as a sign of their continuing interest in the project. Subject to a Definitive Agreement, EPI will acquire CIE through the issuance of 3.5 million registered common shares for all of CIE issued and outstanding common shares, preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. and warrants. Moreover, CIE is to satisfy its remaining liabilities: the company has already begun discussions with its largest creditors. Closing of the transaction is anticipated in mid-March, 1997. Educational Publications Inc., based in Jenkintown, Pa., is an eclectic company whose expertise includes publishing, television, direct marketing and database development and analysis. They are active in a variety of niche demographics including Expectant/New Parents, Military, Seniors and Youth/School programs. Among other projects, twenty-six half-hour television programs entitled "Today's Parent" have been completed for broadcast in 1997. EPI publishes What's Next? A Guide to Family Readiness, a manual for military spouses, and related publications which are endorsed by every branch of the military. Classics International Entertainment Inc., headquartered in Chicago, is the parent company of First Classics Inc. and Classics Media Group Inc. First Classics has licensed Acclaim Comics to produce comic book/study guides as well as interactive versions of their Classics Illustrated line. Classics Media Group is currently working with Francis Ford Coppola's American Zoetrope studio in the development of television and/or motion picture adaptations of the Classics Illustrated library. Classics International Entertainment Inc. is publicly traded on the 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 Bulletin Board under the symbol CIEI. CONTACT: Classics International Entertainment Inc. Investors Communications Department, 800/569-CIEI (2434) |
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