There is still no news about the teacher who disappeared from the airport and no one from AETG
was available for comment.
Additionally, on closing, AETG will fund, if necessary, a maximum of $500,000 to effectuate TOC's business plan during the 1997 calendar year.
AETG management is of the opinion that the TOC acquisition will garner both substantial revenues and net profits for AETG and will play a significant role in the furtherance of AETG's plans to create a state of the art content driven entertainment-telecommunications corporation.
The founder of Atlantic Express, Domenic Gatto, will retain a sizeable stock position in AETG and shall remain chief executive officer and president of the company.
Patel added, "We did a rigorous study of AETG, its management style, reputation, proven track record, high customer retention, and business strategies.
is a dynamic provider of content and information to the entertainment, merchandising and telecommunications industries worldwide.
CONTACT: Jon Bridgman, Director, Public Affairs, of AETG
, 416-920-1919, or fax, 416-920-1924/
And now we can offer our market a greatly expanded selection of timeless classics available through one company instead of two," said Joel Wagman, Chairman and President of AETG
shareholders, in addition to a 20-30% ownership of the future issued and outstanding common shares of the resulting company as well would receive 100% of an issue of preferred shares entitling all AETG
shareholders at the date of closing (but excluding any VIP shareholders) to 80% of the profits in the entertainment division.
For the remainder of 1996, and during 1997, AETG
will concentrate its focus on the following:
and management of the videocassette corporation anticipate that the growth of AETG
will be significantly enhanced by this transaction.
is a global entertainment company, with one of the largest public domain vintage motion picture and television series collections in North America, including such timeless classics as "Algiers" and "Suddenly.