AUSTIN, TX -- 08/15/07 --
Tensleep Corporation (PINKSHEETS: TENS)
("Tensleep"), a financial services company, announced that it has entered
into an agreement to acquire XSTV Media, Inc. ("XSTV"), a privately held
development stage media company, through an exchange of shares. The
transaction is scheduled to close on or before September 15, 2007. XSTV
aggregates and packages sports-related video content and information
services for web-based distribution and broadcast.
"This is a significant event for Tensleep and its shareholders --
significant because of expectations and belief in the potential of XSTV,"
said Ronald S. Tucker, president and CEO of Tensleep. "It is a rare
opportunity for the management of Tensleep and our shareholders, although
it comes with challenges."
"XSTV is the successor to the company that developed XSTV®, a
magazine-style TV program about extreme sports and which earned brand
equity, consumer recognition and industry reputation during seven
successful seasons, 1997 - 2004, as one of the top US extreme sports
televisions shows," said Mr. Tucker.
-- XSTV® was twice nominated for an Emmy in 2002 and over seven years its
production team won more than 40 television and video industry awards;
-- XSTV® was the original anchor and highest rated program for the kick-
off season of "Rush Hour" on Fox Sports Net and was also broadcast on
Sunshine Network, Comcast Sports and 104 other US broadcast stations;
-- XSTV® was broadcast internationally in countries such as Australia,
South Africa, Israel, South America and the Middle East;
-- XSTV® Ice Edition II show achieved the highest rating for its market
with an audience of 63 million households on Broadcast and Cable TV;
-- XSTV® was available in 87 million US households in 50 of the top 100
markets, including New York, Los Angeles and Miami;
-- XSTV® programs were shown on United Airways, US Air, and America West;
-- XSTV® segment videos averaged more than 4 million weekly page views in
2002 through FMiTV, a broadband syndicating partner; and
-- XSTV® program sponsors and advertisers included BMW, Jeep Chrysler,
Kellogg, Panasonic, Skechers, Vans and Volkswagen.
"XSTV earlier this year purchased the rights to XSTV® and a legacy library
of action sports videos and TV programs," said Mr. Tucker. "XSTV's
business strategy is based on leveraging the XSTV® brand. Originally, the
management of Tensleep intended in this transaction to maintain XSTV as a
subsidiary and continue as a business and corporate development company.
However, because of XSTV's potential, the management has decided to focus
on the business and corporate development of XSTV exclusively. Therefore,
Tensleep's name will be changed to XSTV Corporation, and all unrelated
business interests will be transferred to affiliates."
See what XSTV is all about at www.xstvmedia.com.
Tensleep is a specialty finance company specializing in the reorganization
and recapitalization of private and public companies. For more information
see our web-site at www.tensleep.com.
CONTACT:
Ronald S. Tucker
(888) 443-2656
rtucker@finance-co.com
