New World Publishing Acquires Communications Television
Posted on May 24, 1999As of May 18, 1999, New World Publishing, Inc. has entered into an Agreement and Plan Of Reorganization, whereby all of the outstanding shares of common stock of Communications Television, Inc. were exchanged for a total of 19,020,167 shares of the New World Publishing, Inc. with Communications Television, Inc. becoming a wholly-owned subsidiary of New World Publishing, Inc.
Pending the shareholders' approval, the Company intends to change its name from "New World Publishing, Inc." to "Sonicport.com, Inc.," which name the Company has reserved for its use. Sonicport.com will offer Internet access to consumers and businesses in 96 major U.S. cities via a local dial-up through its network of third party "points of presence" or POP sites. The company has also utilized the latest in technology to develop and create a monthly recurring club platform to launch various subscriber-based projects.
Depending on the project, a Web-based community will be developed with access to the Internet provided to members by the Company. Sonicport.com will develop virtual communities through Internet portals, attracting large audiences linked by similar business, ethnic, leisure and spiritual interests.