DEL MAR, Calif., Feb. 3, 2003 (PRIMEZONE) -- Cavalcade of Sports Media, Inc. (OTCBB:CVOS) is pleased to announce that Crescent Fund, Inc., a private equity firm with offices in New York, Dallas and Toronto, has been engaged to provide corporate capitalization and investor relations consulting services.
Crescent Fund is a private equity firm that invests on a principal basis and acts in an agency capacity to procure capital for both profitable and emerging small-cap companies. Crescent will identify institutional funding sources and will further develop the investor relations activities of Cavalcade of Sports Media, Inc.
Crescent Fund announced: "We are very pleased to be working with Cavalcade of Sports Media, Inc., a company that is rapidly emerging in the nostalgic sports entertainment market, as well as the ethnic programming market. We expect to generate serious interest in Cavalcade of Sports Media, Inc. within the U.S. markets."
Cavalcade of Sports Media, Inc. is a company engaged in the nostalgic sports entertainment business. Cavalcade's goal is to broadcast nostalgic sports content to cable and satellite providers as a digital network programming provider. The Cavalcade library includes vintage sporting events and coverage dating back to the 1940's, with 10,000 hours available to the company.
Cavalcade is also positioning itself for the acquisition of key Lower Power TV Stations (LPTVs) which are intended as "Community Service" stations. Cavalcade has an additional division devoted to broadcasting ethnic programming, initially to the Indian, Chinese and Mexican populations, starting with Cavalcade's affiliation with The Bollywood Channel (an Indian content provider now in development).
"We look forward to working with Crescent both to identify institutional funding sources and to increase our U.S. exposure and investor following," said Ed Litwak, Chairman of Cavalcade of Sports Media.
For further information, visit the Cavalcade of Sports Media Website at www. cavalcadetv.com or contact Cavalcade of Sports Media at 858-481-2207.
To contact Crescent Fund, e-mail to crescentfund@yahoo.com or call 212-509-3060.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.