SUN Announces New Sports Radio Management Team and New Financing
DALLAS, TX, Sep 15, 2008 -- SUN Sports and Entertainment, Inc. (PINKSHEETS: SUNR) announced today the new management team for SUNR's former wholly owned subsidiary, Sports Radio Event Network, Inc. ("Sports Radio") and new $5,000,000 Private Placement financing.
Sports Radio will be issuing 5,000,000 Shares of its Common Stock at a price of $1.00 per share to accredited and institutional investors effective after the Dividend Date of September 30, 2008. The Company has 20,000,000 shares authorized and this financing will represent a twenty-five percent equity ownership in the company and the opportunity to adequately fund the future and expansion strategies.
SUN Board of Directors agreed to spin this division off as a new public company through a Stock Dividend Distribution as of September 30, 2008 ("Record Date"). SUNR shareholders (as of the record date) will be entitled to a Stock Dividend of one share of Sports Radio for every ten shares of SUNR owned.
The new incoming management of Sports Radio is comprised of some of the best industry sports and broadcast veterans, headed by Michael "Mick" Bazuly as the new CEO.
Michael "Mick" Bazsuly -- CEO. Mick Bazsuly is a former NFL sports agent, concert producer, and restaurant developer. He regularly hosts Sports Radio and has produced the weekly business show on The Beasley Network since 2004. As President of Wyndam Media Group Inc, he has produced and hosted over 120 hours of radio weekly. He has a background in marketing and over 30 years experience in the financing and business world. Bazsuly has been involved in many business and sporting events since the 1980s from a concert promoter for the Eagles to other ventures. From the late 1970s through the 90s, Bazsuly worked as an established real estate agent, and served as President of Southeast Development Corporation Inc. (SDC), one of Florida's largest and most distinguished development companies. SDC has produced some of the finest shopping plazas, medical buildings, offices, and multi-family units within the state.
Jeff DeForrest -- Lead Broadcaster & Consultant. Jeff DeForrest is one of the most recognized names in Florida Sports Radio. DeForrest has worked as a journalist, broadcaster, and TV host, for over 25 years, and as a Southern Florida sports radio host. Jeff has been a Florida Horse Racing host, a former voice of the Miami Hurricanes, and a pre-game/play-by-play commentator for the Miami Dolphins. DeForrest is also the ringside announcer for HBO, Showtime and Warriors Boxing, often teamed with former champ Glenn "The Road Warrior" Johnson and Al Bernstein and over 100 boxing titles events to 15 million Florida listeners each day. He has worked for FOX, HBO, Showtime, NBC and several other major sports stations. DeForrest co-hosts the "A" Team Morning Show on Fox 640AM Radio in South Florida with Lesley Visser. Lesley Visser is the only woman in the NFL Hall Of Fame, and a CBS writer and broadcaster covering NFL and NCAA for at least 30 years. A pioneer in broadcasting and a winner of the William Paley Award, she helped pave the way for women in television. Visser has won numerous awards in broadcasting as well as journalism. Presently, she writes for CBS.com and is married to casting legend Dick Stockton.
Tom Kozlowski -- Vice President Marketing. Tom Kozlowski was the youngest floor manager of any Casino in America at age 26. Before founding his own marketing and consulting company, Tom managed several resorts in Atlantic City, New Jersey. Working for Jay Abraham, one of the world's largest and most successful consulting companies, Tom helped expand sales for dozens of businesses. As Vice President of Wyndam Media Group Inc, focusing on the New Jersey and Philadelphia locations, for over 20 years, Tom has covered televised sporting events and has become one of the most recognized faces in television. Tom is a ringside commentator for HCF and IFL MMA events. He is often a guest on other radio stations and an authority on sporting productions.
Paul Missel -- Vice President Operations. Paul Missel is the voice of New York, California, and Florida Horse Racing. Since 1998, Paul has co-hosted the Trivia Challenge radio show with Jeff DeForrest. The show is currently rated number one in the state of Florida. He is a voice of the Calder Race Course, Gulfstream Park, and Flagler Dog Track. For 25 years, he has been a jockey and an agent representing the best in the business. He is a ringside color commentator as well as blow-by-blow announcer.
Michael Fernandes -- Vice President Production. Michael Fernandes works as camera consultant, editor, and senior advisor for film productions for some of the world's largest sporting events. He is a team player and has worked for such companies as ESPN, FOX, MSNBC, and the Sunshine Network. When it comes to tough jobs in the television industry, Michael Fernandes is always in high demand.
Sports Radio event broadcast service provides live audio content over a multi-channel network. The signal originates from live TV, cable, satellite and radio programs to exclusive branded commemorative radios. The company also has the ability to produce and broadcast its own custom content. To date, Sports Radio has provided its service to more than 40 professional and collegiate sporting events for organizations such as the NFL, NBA, NHL and NCAA.
Sports Radio provided its In-Broadcast Radios for the 2008 NFL Super Bowl, one of the most watched sporting events in the world. Sports Radio also provided its In-Broadcast Radios for the 2008-2009 NFL Draft held at Radio City Music Hall in New York on April 29th - 30th 2008.
Sports Radio plans on broadcasting live data feeds on a new type of radio receiver. This will utilize new Radio Frequency technology enabling a feature-enhanced event broadcasting service.
ABOUT SPORTS RADIO:
Sports Radio Event Network Inc. provides in-stadium event broadcasting services over a multi-channel network that originates from live TV, cable, satellite, and radio programs to commemorative radios. Sports Radio has provided its service to professional and collegiate sporting events for organizations like NFL, NBA, NHL and NCAA. Coming soon ( www.sportsradiobroadcast.com).
SUN Sports & Entertainment, Inc. is a Professional Mixed Martial Arts Event Promotion Company specializing in concept-driven MMA events. SUN is a Certified and Licensed Combative Sports Promoter that produces World Class MA Events. "Art of War" is a registered trademark ( www.artofwarLIVE.com).
Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. SUN Sports & Entertainment Inc. does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
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SOURCE: SUN Sports & Entertainment, Inc.