WILMINGTON, Del. and SANTA ROSA BEACH, Fla., Jan. 10, 2007 (PRIME NEWSWIRE) -- Perihelion Global (Pink Sheets:PHGI) announced that the United States Federal Communications Commission (FCC) has granted a consent decree approving Perihelion Global's acquisition of licensed broadcast facilities WCMA-AM, a 50,000 watt broadcast facility covering portions of Alabama, Florida and Georgia and WTKN-AM, a full time broadcast facility serving Mississippi. WCMA-AM is one of the most powerful FCC licensed broadcast stations in North America and is licensed by the FCC to broadcast its signal at the maximum power (50,000 watts) allowed AM stations under FCC Regulations.
As required by law, the Notice of Consummation for completion of the transaction will be filed with the FCC by Perihelion Global's FCC legal counsel -- Law Offices of Scott C. Cinnamon, PLLC, in Washington, D.C.
The transaction is expected to be formally completed by late January 2007.
About Perihelion Global:
Perihelion Global focuses on the acquisition, development and management of technologies, strategic commodity reserves and assets in the energy, natural resource and communications markets. Perihelion's management team specializes in providing solutions for the strategic challenges of 21st Century. We lead with decades of experience in environments that are mission critical in today's global marketplace. Website: www.perihelion.com
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Caution Regarding Forward-Looking Statements
This press release contains historical information as well as forward-looking statements that are based upon our estimates and anticipation of future events that are subject to certain risks and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "hopeful," "intend," "may," "optimistic," "preliminary," "project," "should," "will," and similar expressions are intended to identify these forward-looking statements. There are numerous important factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as Forward-Looking Statements as are sections of this news release clearly identified as giving our outlook on future business.
These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following important factors that could affect the actual outcome of future events:
* General economic conditions, either nationally or in our market
area, that are worse than expected;
* regulatory and legislative actions or decisions that adversely
affect our business plans or operations;
* price competition;
* inflation and changes in the securities markets that adversely
affect the fair value of our operations; and
* changes in our organization, compensation and benefit plans.
We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and wish to advise readers that the factors listed above could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. We do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.