Artfest International, Inc.’s (ARTI.OB) Wholly Owned Subsidiary Signs Letter of Intent with Major Sports Network to Operate Online College Sports Memorabilia Auctions
Source: http://Blog.QualityStocks.net/?p=16317Posted on Wednesday, July 15th, 2009 | In Market Commentary, Small & Micro Cap
Artfest International, Inc., an online portal that brings together artists, investors, decorators, designers, private collectors and art galleries, recently announced that the company’s wholly owned subsidiary, Charity Sports Distributor, Inc., has signed a letter of intent with CBS College Sports Network, a 24-hour cable network dedicated to college sports, to operate online college sports memorabilia auctions during this year’s college football season.
Under the terms of the agreement, Charity Sports Distributor will provide authentic custom framed alumni player autographed memorabilia for CBS college partner teams including Auburn, Iowa, Florida State, South Carolina, TCU and UCLA. The online auctions will be held on a bi-weekly basis on CBS College Sports Network’s online auction home page and through the applicable athletic department’s home page. CBS College Sports Network has over 30 million subscribers and is available in 80 million cable and satellite homes across the country.
Edward Vakser, chief executive officer of Artfest International, Inc, stated, “Charity Sports Distributor’s collection of unique autographed memorabilia and premium quality custom framing provides a new value added capability to CBS’s 200+ college partner schools.” He continued, “We are confident that our college online auction relationship will both increase our sales revenues and expand our product branding while also providing fans a creative way to support their alma mater.”
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