| Global Broadcasting Systems, Inc. | |||
| Proposed Ticker: | GBSI | 1740 Broadway, 17th Floor | |
| Exchange: | NASDAQ-National Market | New York, NY 10019 | |
| Industry: | Service | (212) 246-9000 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 1/31/97 | |
| U.S. Shares Filed: | 12,500,000 | Filing Range: | $15.00 - $17.00 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $200,000,000 | |
| Primary Shares: | 12,500,000 | Expenses: | - | |
| Secondary Shares: | 0 | Shares Out After: | 13,106,575 |
| Manager | Tier | Phone |
| Friedman, Billings, Ramsey & Co., Inc. | Lead Manager | (703) 312-9571 |
| Issuer's Law Firm: | Latham & Watkins |
| Bank's Law Firm: | Brownstein Hyatt Farber & Strickland, P.C. |
| Auditor: | KPMG Accountants N.V. |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $0.20 | Assets: | $5.28 | ||
| Net Income: | -$10.83 | Curr Assets: | |||
| EPS: | -$7,500.37 | Liabilities: | $1.57 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | -$7.69 | Equity: | $3.71 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The Company is a national televised home-shopping retailer offering high-quality merchandise at manufacturers' direct prices that are up to 30% to 50% below those of its principal competitors. On March 1, 1996, the Company began full-time, national distribution of its video home-shopping programming via satellite to all home satellite dishes in the United States. As of March 15, 1997, the company owned two independent full-power UHF television stations and had agreements to acquire an additional independent full-power UHF stations. The company's national station group will broadcast the company's programming in 12 of the top 25 markets throughout the United States. The company's national station group, following the Acquisitions, will have an aggregate acquisition value in excess of $430.0 million and a total over-the-air audience reach of approximately 30 million homes. Following the Acquisitions, the company will be the third largest television station operator in the United States or the ninth largest television station operator in the United States. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to finance the Acquisitions, to purchase the Pledged Securities, for fees and expenses in connection with the Offerings and for general corporate purposes. |