WILMINGTON, Del. and OGDEN, Utah, Dec. 27, 2006 (PRIME NEWSWIRE) -- Perihelion Global (Pink Sheets:PHGI) announced that the corporation will acquire two FCC licensed broadcast facilities, both in the Southeastern United States. The acquisitions of 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 will mark the official launch of Perihelion's Communications Division. WCMA-AM is one of the most powerful FCC licensed broadcast stations in North America and is licensed to broadcast its signal at the maximum power (50,000 watts) allowed AM stations under FCC Regulations.
The stations are currently owned by Beebe Communications, which was founded by Perihelion Global Chairman, Chief Executive Officer and President John H. Beebe. Financial consideration for the acquisition of the FCC licensed broadcast facilities is $1,300,000.00; to be paid in restricted stock upon closing. The transactions are expected to close after FCC approval in late January 2007.
"I am pleased to announce the acquisitions of WCMA and WTKN which will launch our communications division and also continue to add to the corporation's solid asset base," said John H. Beebe, Chairman, Chief Executive Officer and President of Perihelion Global. Adds Beebe, "With the advent of remarkable new technologies now available to existing broadcast stations, this is a great strategic fit for our long term corporate goals."
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 the 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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