Gaylord Entertainment Sells Lightsource.com to LifeAudio.com.Business Editors NASHVILLE, Tenn.--(BUSINESS WIRE)--Feb. 6, 2001 Gaylord Entertainment Company Gaylord Entertainment Company (NYSE: GET) operates a number of hotel, resort, and media companies. Facilities owned include:
See: New York Stock Exchange :GET) has sold Lightsource.com, an Internet broadcasting Internet Broadcasting (formerly Internet Broadcasting Systems), or IBS, is a provider of television station web sites. IBS hosts over 70 local stations' sites, and co-produced NBCOlympics. website that focuses on Christian programming, to LifeAudio.com, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Alexandria, Va. Terms of the transaction were not disclosed. LifeAudio.com, founded in 1999, is an application service provider specializing in the capture, management and distribution of content in digital formats. It helps churches and other Christian ministries expand the reach of their teaching ministries through Internet broadcasting, on-demand streaming and back-end fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. services. Lightsource.com has been a component of Gaylord Digital, Gaylord Entertainment's centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. Internet initiative. In early December, Gaylord Entertainment announced plans to exit that initiative as a result of a strategic review of its operations. It sold Musicforce.com, an e-commerce component, to Christian Book Distributors in late December. Gaylord Entertainment acquired Lightsource.com and Musicforce.com in 1999 and made them the foundation of Gaylord Digital. "By helping ministries build communities through the Internet, Lightsource.com is a positive influence in many people's lives. We are pleased that Lightsource.com's service to people of faith will continue through LifeAudio.com," said Carl Kornmeyer, president of Gaylord Entertainment's music, media and entertainment group. "LifeAudio.com is excited about continuing Lightsource.com's top-quality service. We believe that `life comes through hearing,' and we look forward to helping ministries expand the reach of their life-changing messages through Lightsource.com. This also gives us the opportunity to expand the services available to Lightsource.com ministries, helping them use the web with a goal of increasing their effectiveness and efficiency," said Sebastian Traeger, co-founder and president of LifeAudio.com. Gaylord Entertainment is a diversified entertainment company whose businesses operate in two groups: hospitality and attractions, and music, media and entertainment. It is headquartered in Nashville, Tenn., and its stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (symbol: GET). |
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