Liberty Sports acquires Fan Fair retail stores; subsidiary Prime Sports Merchandising, Inc. will capitalize on regional network resources.
The newly acquired retail outlets will supplement Prime Sports Merchandising, Inc.'s seven existing owned and operated stores. These Pittsburgh area stores were purchased November 1, 1994 from the National Hockey League's Pittsburgh Penguins and changed names to Prime Sports Stop. The majority of Prime Sports Stop's inventory is regionalized. In addition to popular home town team apparel, the stores also sell game used sports equipment and memorabilia.
Prime Sports Merchandising plans to regionalize inventory of the 75 new stores; however, no decision has been made regarding a name change. The stores will continue operating as Fan Fair for the foreseeable future.
"In the highly competitive retail world, it is very important to have an edge over your competition," said William Craig, vice president of Liberty Sports and general manager of Prime Sports KBL. "In the sports merchandising world, our edge is Liberty's tight association with over 40 professional teams, in addition to the promotional clout of our regional sports networks." Craig believes the success of the Fan Fair chain will be greatly assisted by the advertising opportunities available through Liberty's regional sports networks.
Prime Sports will retain the services of certain former employees of Fan Fair Corporation and Merle Harmon Enterprises, Inc. including Merle Harmon, Sr. The former sportscaster is a pioneer in the licensed sports apparel industry. Corporate headquarters will be moved from Milwaukee to Pittsburgh.
Liberty Sports, Inc., the sports programming arm of Tele-Communications, Inc., produces and distributes more sports programming than any other source in the world. Liberty Sports has interest in regional sports networks across the globe, including Prime Sports.
CONTACT: Liberty Sports, Inc., Irving
Bob Wheeler, Christal Aycock, Michelle Eddins or
Renaldo Leonard, 214/401-0069
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|Date:||Aug 7, 1995|
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