Victor Industries Closes Acquisition of New Wave Media; Victor Industries Board Votes to Change Name to New Wave Media Corporation, Apply for Stock Symbol Change


GREAT FALLS, Mont., May 30, 2003 (PRIMEZONE) -- Victor Industries, Incorporated (OTCBB:VICI) is pleased to announce that it has begun the first phase of the transformation of the Company by closing the New Wave Media Corporation ("New Wave") acquisition.

The Victor Board has secured an agreement with the chief architect of the New Wave Media business model, Josh Gager, to act as CEO of Victor Industries and President of New Wave Media.

Mr. Gager commented, "The acquisition of New Wave is the first step towards this Company implementing its strategic goals. We have a business model that we are extremely confident will be appreciated by the marketplace, our shareholders and the radio station ownership community around the country. Our all digital Great Falls station is the first of what we hope will be many second and third tier market FM radio stations to be affected by our new way of thinking about underutilized and underperforming radio station assets.

"Within the next two weeks, we will unveil our plan to become the largest station in Montana in terms of potential audience. By utilizing our engineering philosophy and business plan, we hope to have the only multi-market station in the greater Montana area capable of reaching Bozeman to the south and Canada to the north."

Continuing, Mr. Gager added, "What we do with our Great Falls station really gets to the heart of our strategy: to acquire and/or operate a station that has an underutilized infrastructure, and greatly enhance the size of the potential market. We have identified assets that can, with a small investment, increase market size by 3, 5 and even 15 fold. We pledge to continue to update our shareholders as to the progress we make during this exciting time in the Company's history."

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission



            

Contact Data