Well, I actually know someone promonent in the biz. Got a call in, will let you know if I get any info out of her about her thoughts on this company. Haven't spoken to her in years, but should get something in a day or two. Hopefully...
Another PR today. Looks mostly the same as yesterday;
Aug 27, 2008 (M2 EQUITYBITES via COMTEX) -- New Century Equity Holdings Corp (OTC BB: NCEH.OB), which holds interest in ACP Investments LP (Ascendant), an asset management services provider, revealed yesterday (26 August) that it has signed a definitive agreement to acquire Wilhelmina International Ltd and its affiliated companies. The affiliated companies of Wilhelmina International Ltd are Wilhelmina Models, Wilhelmina Miami, Wilhelmina Film & TV and Wilhelmina Artist Management. The company will acquire Wilhelmina for USD30m, of which USD15m will be in cash and USD15m in shares of New Century common stock, as per the terms of the merger agreement. The purchase price is subject to the performance of Wilhelmina's core modelling business and of both Wilhelmina Artist Management and Wilhelmina Miami in 2008, besides being subject to the approvals and other customary closing conditions of the company. The company expects the transaction to close in the fourth quarter of 2008. The financing arrangements have been approved separately by an independent committee of New Century's board of directors. The company will change its name to Wilhelmina International Inc and Wilhelmina will become New Century's principal operating business. Wilhelmina Models was founded four decades ago and is a model management company representing women, men and children through its offices in New York, Los Angeles and Miami. It developed a specific division, Wilhelmina Artist Management, which represents talented people in the worlds of music, sports and entertainment which has a roster that includes musicians such as Fergie, Natasha Bedingfield, Ciara and Brandy along with sports legends like David Leadbetter among others and the recently created Wilhelmina 7. Wilhelmina Artist Management helps create, develop and maintain the brand identity of artists and athletes by securing fashion campaigns, endorsements, marketing opportunities and tour sponsorships. New Century will file a Current Report on Form 8-K containing additional information concerning the Wilhelmina purchase agreement with the Securities and Exchange Commission. Comments on this story may be sent to admin@m2.com (C)2008 M2 COMMUNICATIONS LTD http://www.m2.com *** end of story ***
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