Consolidated Sports Media Group, Inc. to Acquire TRACKFEST.ADDISON, Texas Addison is a city in Dallas County, Texas (USA). The population was 14,166 at the 2000 census. Addison is a northern suburb of Dallas. The city calls itself the Town of Addison but it is incorporated as a city. -- Consolidated Sports Media Group, Inc. CSMGI (Pink Sheets:CSGU) today announced they have signed a purchase and sale agreement with Wheels Off Production, LP, a Nevada limited partnership, to acquire 100% of the membership interests in TRACKFEST Entertainment, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Nevada limited liability company, the owner of "TRACKFEST." TRACKFEST is a mobile, high-tech party catering to motor sports fans on location throughout the United States. CSMGI, a developer, producer and distributor of entertainment related media, plans to add TRACKFEST to its complement of varied and aggressive motor sports sales strategies. "We believe TRACKFEST is simultaneously a forward-thinking entity and a grass-roots program that speaks directly to the motor sports fandom," said CSMGI President and Chief Executive Officer Scott Schepper. "There will come a time not too far down the road when TRACKFEST is as visible and popular at races as tailgating Tailgating The action of a broker or advisor purchasing or selling a security for his or her client(s) and then immediately making the same transaction in his or her own account. itself." TRACKFEST's mobile units set up near motor sports venues to entertain fans with live music, promotional videos, T-shirts and memorabilia under party tents ranging from 5,000-40,000 square feet. About Consolidated Sports Media Group, Inc. CSMGI is a conglomerate of multimedia companies that develop, produce, and distribute entertainment media focused on film, television, music, and publishing interests. The company, based in Addison, Texas, will develop and distribute training and instructional videos for a wide variety of sports enthusiasts. CSMGI distributes DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. titles through its direct response television business strategies as part of the company's commitment to be a dominant force in the sports marketplace, while also entering the multi-billion dollar home video/entertainment industry. "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: Certain statements in this release are "forward-looking" statement as defined in 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. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. , risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , competitive risks, reliance on development partners and the need for additional capitol. |
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