Symbol Change for Bargain Brokers Inc.NEW YORK--(BUSINESS WIRE)--Aug. 20, 1999--
Global Network Inc. announced Friday that with the completion of its acquisition by Bargain Brokers Inc. the new symbol for the company will be (OTC OTC
See over-the-counter market (OTC). BB:GNNU).
The company is in the process of changing its name. The new name will be Global Network Inc. For more information log on to our website (www.dgonn.com) and (www.globalnetworkonline.com).
All management and board members at Bargain Brokers have resigned. Replacing this management team will be the management from Global Network Inc. which includes James Mason, president, 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. ; John Grant, executive vice president and Arnold Behrman, executive vice president, who will also assume board positions. The founders and management of GNI GNI Gross National Income
GNI Global Nomads International
GNI Guyana News and Information
GNI Gay Naturists International
GNI Global Netoptex Inc.
GNI Great Northern Iron
GNI Gebäude Netzwerk Institut (German) combine more than 100 years holding executive positions at Business Week, U.S. News & World Report U.S. News & World Report
Weekly newsmagazine published in Washington, D.C. U.S. News was founded in 1933 by David Lawrence (1888–1973) to cover important domestic events; he founded World Report in 1945 to treat world news. The two magazines were merged in 1948. , The New York Daily News New York Daily News
Morning daily tabloid newspaper published in New York City. It was founded in 1919 by Joseph Medill Patterson and his cousin Robert McCormick as a subsidiary of the Tribune Co. of Chicago. The first successful tabloid-format newspaper in the U.S. , National Geographic, Geo Magazine, Mutual Funds, Compton and The Newspaper Advertising Bureau.
James Mason, president and CEO said: "The future for GNI seems bright indeed when ad agencies, national marketers and the media all agree that the Internet will probably be to Y2K See Y2K problem and Y2K compliant.
Y2K - Year 2000 what television was to the fifties and sixties. Prospective clients we are in discussion with have already diverted huge sums out of traditional media and put it into the Internet including national marketers like Ford, GM, Daimler-Benz/Chrysler/Pfizer/Bayer/G.E. et.al."
Global Network Inc. (GNI) is a recently formed Internet marketing See Internet advertising. company created to provide Internet access See how to access the Internet. to hundreds of online newspaper websites worldwide. Management has held discussions with most of the major newspaper companies including The New York Times, The New York Times, The
Morning daily newspaper, long the U.S. newspaper of record. From its establishment in 1851 it has aimed to avoid sensationalism and to appeal to cultured, intellectual readers. Los Angeles Times Los Angeles Times
Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). , The Chicago Tribune, The Philadelphia Inquirer, The Washington Post and The Boston Global which, along with other major market newspapers have an estimated advertising potential of $1 billion annually, with growth estimates that double annually until at least 2002.
The basic plan of GNI is not unlike www.priceline.com. Whereas, www.priceline.com purchases unused airline passenger seats and resells them to the highest bidder HIGHEST BIDDER, contracts. He who, at an auction, offers the greatest price for the property sold.
2. The highest bidder is entitled to have the article sold at his bid, provided there has been no unfairness on his part. , GNI will purchase unused page views, package those views into an online network and market the page views to national advertisers and their advertising agencies in a turnkey manner.
Newspapers were practically the first medium to create online content driven websites. Given the size and daily change of the online sites, significant commitments of the time and people are necessary. It is the belief of GNI management that its business plan to utilize these online newspaper sites will be successful in that it will:
-- help the newspaper reduce the annual cost;
-- attract new categories of advertisers;
-- increase share of market vis a vis other media forms.
Internet advertising is currently estimated to grow approximately 400% between 1998-2002 or 1.3% share to 7% share of the total $250 billion market.
Internet advertising surpassed outdoor advertising in 1998 volume, and is expected to reach $22 billion by 2004 (putting it on an equal stature with radio). This, along with estimates that online traffic will continue to double for the next several years, and that next to e-mail, online websites represent the next highest usage by Internet users, Global Network is positioned for significant growth through aggressive sales and marketing, acquisitions, and strategic alliances.
Statements in this press release other than statements of historical fact including statements regarding the company's plans, beliefs and estimates as to projected market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties and actual results could differ materially. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.