Post by ToddCT on May 2, 2005 13:44:01 GMT -5
Prime Rate Investors, Inc. Closes Majority Acquisition of N'EAST Magazine
STOWE, Vt., May 02, 2005 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (OTC.PK: PRRM) announced it has closed its acquisition of the majority ownership of N'EAST Magazine, L.L.C., publisher of the magazine by the same name dedicated to outdoor adventures, sports, travel and lifestyle in and around northeast North America. Based in Osterville, MA, the magazine's premiere issue was released in August, 2004. "N'EAST Magazine represents an ideal opportunity to further expand Prime Rate Investors multi-media presence in the outdoor sports and travel industries. It is fully in line with our vision of growth and shows tremendous potential for market share capture and increased revenues," said Prime Rate Investors President Dan Burgess.
"The resources, relationships and opportunities for cross marketing that PRRM brings to N'EAST will fuel the magazine's growth and momentum, establishing N'EAST as the premier adventure lifestyle magazine in the northeast," enthused N'EAST President Jim McGinley.
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company's strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10, and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company that also manages two other RSN affiliates Sugarbush TV-12 and Smuggs TV-9. The Company's wholly owned subsidiary BCTV produces the outdoor adventure series "Backcountry TV." Prime Rate Investors also owns the majority interest of Stockli Ski USA, the exclusive U.S. distributor of Stockli skis, bikes and sportswear.
For more information, visit the company's websites www.prrm.info, www.stowetv10.com, www.neastmagazine.com, and www.highanglemedia.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Prime Rate Investors, Inc.
CONTACT: Prime Rate Investors, Inc.
Dan Burgess, 802-253-0199
www.prrm.us
info@stowetv10.com
Copyright Business Wire 2005
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STOWE, Vt., May 02, 2005 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (OTC.PK: PRRM) announced it has closed its acquisition of the majority ownership of N'EAST Magazine, L.L.C., publisher of the magazine by the same name dedicated to outdoor adventures, sports, travel and lifestyle in and around northeast North America. Based in Osterville, MA, the magazine's premiere issue was released in August, 2004. "N'EAST Magazine represents an ideal opportunity to further expand Prime Rate Investors multi-media presence in the outdoor sports and travel industries. It is fully in line with our vision of growth and shows tremendous potential for market share capture and increased revenues," said Prime Rate Investors President Dan Burgess.
"The resources, relationships and opportunities for cross marketing that PRRM brings to N'EAST will fuel the magazine's growth and momentum, establishing N'EAST as the premier adventure lifestyle magazine in the northeast," enthused N'EAST President Jim McGinley.
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company's strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10, and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company that also manages two other RSN affiliates Sugarbush TV-12 and Smuggs TV-9. The Company's wholly owned subsidiary BCTV produces the outdoor adventure series "Backcountry TV." Prime Rate Investors also owns the majority interest of Stockli Ski USA, the exclusive U.S. distributor of Stockli skis, bikes and sportswear.
For more information, visit the company's websites www.prrm.info, www.stowetv10.com, www.neastmagazine.com, and www.highanglemedia.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Prime Rate Investors, Inc.
CONTACT: Prime Rate Investors, Inc.
Dan Burgess, 802-253-0199
www.prrm.us
info@stowetv10.com
Copyright Business Wire 2005
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