Primco Enters into Definitive Agreement to Acquire 20% Interest in The Basketball Channel
Last update: 8/20/2013 8:00:13 AM
LOS ANGELES, Aug 20, 2013 (BUSINESS WIRE) -- Primco Management Inc. (otcqb:PMCM), a fully integrated multi-media entertainment and real estate development company, today announced that it has entered into a definitive agreement to acquire a 20 percent equity ownership in The Basketball Channel () and is in the midst of its due diligence process to complete the transaction in the very near future. The Company has obtained an option to increase its holding to 51 percent once Primco is listed on NASDAQ, which management expects to occur by the end of 2014. Primco and The Basketball Channel intend to create a joint venture to market and distribute both EatSleepSports.tv digital content and original and archival footage from The Basketball Channel.
"We are extremely excited to announce our investment and collaboration with The Basketball Channel," stated David Michery, President and CEO of Primco. "Both of our companies are at explosive stages of development and expect great things in the fourth quarter of this year. To join forces at this point in our growth stages achieve significant advantages for both of our organizations. This acquisition will enable us to not only exchange content and co-promote both Channels, but also launch with our combined management strength by pooling our respective expertise and experience. We look forward to working closely with the team at The Basketball Channel spearheaded by Mark Englander, Fred Smith and Bill Shepherd. Our shared passion for sports, in particular basketball, will drive us to bring better coverage of the sport, which we are convinced is presently underserved at the college, pro-am and international levels."
About The Basketball Channel:
The Basketball Channel is the first 24 hour a day, 7 day a week, 365 day a year cable/satellite/digital television network dedicated to the sport of basketball and delivered via satellite, broadband, digital, IPTV, TV Everywhere . Live games. Archived games. High school, college, pro, pro-am, playground, charity and street ball games. East coast, West coast, North, South and International. Summer leagues. Minor leagues. Developmental leagues. Recruiting news, basketball news, gossip, celebs, lifestyle, kicks, training, nutrition, education, compliance, reality, documentaries, films, camps, clinics, coaches, agents, players, old school, new school, legends, interactive chats, blogs, talk, music, fashion, mix-tapes and highlights, highlights and more highlights. (For additional information, visit ).
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