MADISON SPORTS AND ENTERTAINMENT SIGNS LETTER OF INTENT TO ACQUIRE COMBINED ARTISTS, INC.
KINGSTON, N.Y., Nov. 16 ~PRNewswire~ -- Madison Sports and Entertainment Group, Inc., (NASDAQ Bulletin Board: MSET) has signed a letter of intent to acquire Combined Artists, Inc. of Phoenix, Ariz., including the former Mizlou and other film libraries valued at over $10 million. It is considered the largest collection of historical sports films in America, dating from 1895 to the present. According to Joseph Radcliffe, CEO of Madison, "This purchase is a vertical move in the explosive memorabilia industry; with these assets Madison will shortly apply for full NASDAQ listing." Included in the library are such films as "The Jackie Robinson Story," and the Joe Louis and Rocky Marciano fights. The company's President Don Lipeles is credited with developing the sports bar concept in the U.S. -0- 11~16~92 ~CONTACT: Joseph Radcliffe, chairman of Madison Sports & Entertainment Group, Inc., 914-338-0590~
CO: Madison Sports & Entertainment Group, Inc.; Combined Artists, Inc. ST: New York, Arizona IN: SU:
TS-PS -- NY013 -- 1363 11~16~92 14:14 EST
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|Date:||Nov 16, 1992|
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