GLENDALE-BASED SBI EXPANDING INTERNET PRESENCE.Byline: Pam Park Staff Writer GLENDALE - SBI SBI Special Background Investigation SBI Subsidiary Body for Implementation SBI State Bank of India SBI Secure Border Initiative SBI Small Business Institute SBI Stockholm Brain Institute SBI Serious Bacterial Infection SBI Society of Breast Imaging Communications has been in the interactive Bingo business for about 15 years, but now the Glendale-based company is working hard at filling its acquisitions card with a line of e-commerce and entertainment winners. The most recent number to be called out is Sitestar Corp., an Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. based in Encino. SBI announced Friday that it is in negotiations with Sitestar to buy three Web sites: soccersite.com, a soccer sport-related Web site; greattools.com, which offers power tools for sale; and holland-american.com, a distributor of European and domestic gourmet foods. SBI, which has customarily delivered its bingo games, game shows and communications products to television viewers via satellite, is positioning itself to expand its communication and entertainment presence on the Internet, said President and Chief Executive Ron Foster. Sitestar's Web sites would be good additions to frontierpalace.com, SBI's Internet portal that features 24-hour bingo and other games played Games played (most often abbreviated as G or GP) is a statistic used in team sports to indicate the total number of games in which a player has participated (in any capacity); the statistic is generally applied irrespective of whatever portion of the game is contested. for points, online shopping, auctions and chat, Foster said. For Sitestar, the sale of the three Web sites would provide money and free internal resources to focus on consolidating mid-Atlantic Internet service providers, said Clinton Sallee, president 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. . Sitestar has a two-part mission - acquiring and growing e-commerce companies, and providing Internet services. About 90 percent of Sitestar's revenue comes from Internet services, so focusing on that segment would maximize shareholder value, Sallee said. On Friday, SBI also announced a 2-for-1 stock split that would affect shareholders as of Aug. 10. Foster said the intention was to stabilize the share price by increasing the number of shares available to the public. The share count would rise to 100 million. A stabilizing effect was not immediately obvious. SBI stock closed down $1.09, or 58.35 percent, on heavy volume of 1,102,700 shares on the over-the-counter bulletin board Friday. Sitestar closed at 57 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , down 9 cents, or 13.64 percent, on volume of 21,500 shares. Foster attributed the drop to disappointment following an Internet rumor RUMOR. A general public report of certain things, without any certainty as to their truth. 2. In general, rumor cannot be received in evidence, but when the question is whether such rumor existed, and not its truth or falsehood, then evidence of it may be given. that SBI's stock would split 20-1. The company never said that, and it is not even authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: to issue that many shares, Foster said. Earlier this week, SBI announced it had signed a letter of intent to purchase Valencia Entertainment International, an entertainment conglomerate including television production, movies, sports, Internet and real estate holdings. Valencia produces ``Jag'' and ``Power Rangers This article lists fictional characters from the Power Rangers universe who have served as Power Rangers. Unlike the List of Power Rangers characters, which lists serving Power Rangers alphabetically alongside other characters from the same fictional universe, this article lists only ,'' Foster said. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion