HEALTH CLUB MEDIA NETWORK ANNOUNCES MERGER WITH SPORTS DISPLAY, INC.
NEW YORK, Nov. 16 ~PRNewswire~ -- Health Club Media Networks, I nc. (NASDAQ: HCTV) has signed an agreement to merge with Sports Display, Inc., of Rancho Santa Margarita, Calif. The merger is subject to conditions and is expected to close during the first quarter of 1993. Founded in 1978, Sports Display, a privately held company, has been operating an advertising sponsored wallboard network, currently in approximately 2,000 U.S. and Canadian health clubs and 1,500 golf clubs. Sports Display sells local advertising space to retailers and professionals to be displayed on wallboards throughout their network. The company expects to complete a profitable 1992 with sales of almost $7 million. Health Club Media Networks founded in 1988, tested Health Club Television Network (HCTV) in four major market health clubs in 1991 and is currently operating Health Club Radio Network (HCRN) via satellite to 75 clubs in New York, Chicago, Los Angeles, Atlanta, Philadelphia, Washington, and San Diego. The companies together are expected to achieve enhanced capabilities and economies through combined national and local sales, consolidated operations and new media products within the health club and golf club networks. Robert Gray, chairman of Health Club Media Networks said, "with Sports Display's local sales support we can maximize our sales per location in existing networks and expand other alternative media properties to new outlets." Headquartered in New York City, Health Club Media Networks (aka Health Club Television Network, Inc.) is a publicly owned company with its stock listed on NASDAQ (NASDAQ: HCTV). -0- 11~16~92 CONTACT: Robert K. Gray, chairman of Health Club Media Networks, Inc., 212-599-2002 (HCTV) CO: HEALTH CLUB MEDIA NETWORKS, INC.; SPORTS DISPLAY, INC. SU: TNM ST: NY,CA
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|Date:||Nov 16, 1992|
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