Singer Jackson, artist Strong negotiating for control of Gallery Rodeo International.Gallery Rodeo International Inc., a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in the over-the-counter markets, announced last week that a partnership of singer-dancer Michael Jackson Noun 1. Michael Jackson - United States singer who began singing with his four brothers and later became a highly successful star during the 1980s (born in 1958) Michael Joe Jackson, Jackson and artist Brett-Livingston Strong may buy majority control in the 4-year-old operation. Jackson and Strong, through their limited partnership the Jackson-Strong Alliance, are negotiating to buy 4.13 million shares of Gallery Rodeo, a Beverly Hills-based chain of three art galleries which has about 6.67 million shares outstanding, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. its most recent filing with the Securities and Exchange Commission. A value on the bid was not disclosed. Shares traded last week in the $2.00 to $2.25-a-share range. Gallery Rodeo reported a profit of $243,499 on revenues of $2.12 million in the quarter ended Sept. 30, according to its quarterly, 10Q filing with the SEC. Although the company reported its sales were running ahead of last year's pace, it also said that price-cutting was needed to move product. "Due to the economic climate, the company made the decision to utilize discounting to a limited degree, to overcome resistance and stimulate sales," the company reported in its latest filing with the SEC. Gallery Rodeo, which has galleries in Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. , Lake Arrowhead and Taos, N.M., has an exclusive agreement to sell and promote the works of Strong, a sculptor and painter. Strong has earned headlines for such artistic successes as his large painting of Michael Jackson, which sold for $2.2 million to a Japanese buyer, and for carving a large boulder into a likeness of John Wayne's head. The boulder later fell down onto Pacific Coast Highway Pacific Coast Highway may refer to:
Strong also sculpted sculpt v. sculpt·ed, sculpt·ing, sculpts v.tr. 1. To sculpture (an object). 2. To shape, mold, or fashion especially with artistry or precision: a statute of GLOUCESTER, STATUTE OF. An English statute, passed 6 Edw. I., A. D., 1278; so called, because it was passed at Gloucester. There were other statutes made at Gloucester, which do not bear this name. See stat. 2 Rich. II. MARLEBRIDGE, STATUTE OF. John Lennon, which stood outside Los Angeles City Hall, but which since has been sold to private investors. The Gallery Rodeo International board will shortly consider the Jackson-Strong bid for control of the company, said Stephen Thompson, 43, Gallery Rodeo president. "We anticipate that an agreement will be tendered to the board in the next five to 10 days," said Thompson. "The terms are confidential at this time." |
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