WB's and iEN on the Auction Block?

[Vermillion]

Business Editors/High Tech Writers
RESEARCH TRIANGLE PARK AREA, N.C.--(BUSINESS WIRE)--Aug. 24, 2000--iEntertainment Network, Inc. (NASDAQ: IENT) today announced it has recently been approached by an entertainment-focused NASDAQ company regarding a potential merger.
Subsequently, inquiries have been received from additional public companies, as well as private entities in related fields. iEN cautions that contemplated proposals--including minority investment, joint venture, and merger or sale--may not result in a transaction.
iEntertainment Network, Inc. also announced that Concordia Capital Technology Group, Inc. has been retained to advise on strategic alternatives being considered by the company's board of directors.
"Our intention has been to build the company independently," said Mike Pearce, iEN CEO. "Reported results--including an operating profit in the quarter ending June 30--confirm that rapid Internet revenue growth can be achieved in concert with uncompromising fiscal discipline. This progress is not, however, reflected in the share price and has consequently drawn the attention of other parties interested in leveraging our strengths. Retaining a financial advisor is prudent at this time to build shareholder value."
iEntertainment Network, Inc. (NASDAQ: IENT), founded in 1994 and located in Research Triangle Park, NC, is a leading provider of online entertainment media solutions, tools and content for ISP's portals, communities and e-commerce sites. iEntertainment Network currently serves both English and Spanish language audiences. The Company operates multiple online entertainment properties for key partners including AT&T WorldNet (R) Service's GameHub.net ( http://www.gamehub.net  ), and EarthLink's Games Arena ( http://www.thegamesarena.com  ). iEntertainment Network has strategic relationships with AT&T (NYSE: T), America Online (NYSE: AOL), EarthLink (NASDAQ: ELNK), as well as other content and service providers. For more information, call (919)-461-0722 or visit our website at (http://www.ient.com). AT&T WorldNet is a registered service mark of AT&T.
Forward-Looking Statements: Except for the descriptions of historical facts contained herein, statements in this news release concerning a possible merger, investment, sale or joint venture, future results, performance or expectations are forward-looking statements. Actual results, performance or developments could differ materially from those expressed or implied by such forward-looking statements as a result of known or unknown risks, uncertainties and other factors including that we may not be able to agree to terms for a merger, investment, sale or joint venture and those described from time to time in the company's filings with the Securities and Exchange Commission, under "Risk Factors" and elsewhere, including risks relating to history of operating losses, change in business, failing to secure timely or adequate financing, delays in development and introduction of new products, dependence on new product introductions which achieve significant market acceptance and the uncertainties of consumer preferences, the rate and degree of market acceptance of online gaming, dependence on third party software developers for significant portion of new products, risks of rapid technological change and platform changes, intense competition, dependence upon third party distribution and other risks. We undertake no obligation to update any forward-looking statements as a result of new information, future events or otherwise, unless required by law.


--30--PS/ch*

CONTACT: iEntertainment Network Inc.
Bob Hart, 919/461-0722, ext. 3027
rhart@ient.com
 http://www.businesswire.com/cgi-bin/f_headline.cgi?day0/202372228&ticker=ient  



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Vermillion
**MOL**, Men of Leisure
"Real Men fly Radials, Nancy Boys fly Spitfires"

[Yeager]

"Yes Bazil, but what does it all mean?"

[Vermillion]

Well, from my limited knowledge, it means that at least one (and it appears maybe two) outside company has made some kind of business offer to purchase part of iEN, or all of iEN.

I will let a real business expert explain further than that.

------------------
Vermillion
**MOL**, Men of Leisure
"Real Men fly Radials, Nancy Boys fly Spitfires"

[Apache]

And it was rumored to be The Borg (aka MS)
hmmmm

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Apache
=XO= VMF-323 Death Rattlers
VMF 323 Death Rattlers Web Site

[Dago]

Maybe HTC is orchestrating a hostile takeover!  

hahahahahah

Dago

[dbcooper]

  HT never gets hostle he just takes over.

[Sorrow[S=A]]

One question verm- Why on earth put it on this UBB? Wouldn't AGW be a better place?

[Hajo]

EA took over Gamestorm.....lets see what happens to Air Warrior, might foretell what happens to WB.

[Snoopi]

The way I read this statement is:



"Our intention has been to build the company independently," said Mike Pearce, iEN CEO.


We plan to stay independent.
(the word "has" could mean "this might change")

"Reported results--including an operating profit in the quarter ending June 30--confirm that rapid Internet revenue growth can be achieved in concert with uncompromising fiscal discipline. This progress is not, however, reflected in the share price and has consequently drawn the attention of other parties interested in leveraging our strengths."

We made a profit and the share prices don't reflect that, so some "other Parties" wanted to buy into us, so they could make money when the share prices start to reflect their real value

Retaining a financial advisor is prudent at this time to build shareholder value."

Hiring someone to help us decide what to do so the shareholders make as much cash as possible, would be a smart thing to do now.


By Reading this Post you Agree That"
This is just my personal guess.
I'm not a business guru, so I am probably wrong.
I will not be held responsible for any information real or otherwise implied in this post.
I will not be responsible for eye strain or any other physically injury caused by this post.  

[easymo]

 looks like there testing a 100% gunnery arena over there. That might help.

[jedi]

Only if we get to shoot at the Borg.

Might be a good time for HT or Gunjam or somebody to get his checkbook out...

[Samart]

Being a WB'er it really saddens me that things may be going this way.

True, with a larger company possibly taking over.....you'll have more cash flow going into the project.  But you'll also have Big Shots looking at numbers soley.  If that happens....then you can kiss WB's good bye.  Some of you guys may think this is fine and dandy.....but WB's will probably be bringing things into the market that will revolutionize the gaming industry.

Anytime I see a gaming co get the look at....I feel bad.  Now this time.....it just getting like it was about a year ago.

HTC is looking better and better each day.

Thanks for listening guys

Sam

[Ozark]

Hi Sam,

I'm sure that well over 98% of the AH pilots wish no ill will towards WB pilots or the game itself. Many have had problems with the parent company, iEN. However, not towards to pilots or the game. Yes, Big Shots looking at numbers do have an effect on the flight sim community as a whole. However, just maybe, it might be a good thing. iEN had lost my trust as a leader. They have fumbled the ball more than once IMO. But, more than anything else, I want my WB friends to get their fix like I get my AH fix. I moved here and never looked back...err...still miss good friends and the HA.  

<S>

[Renfield]

Well, the only good that comes from things like this is hopefully managment of all small programming companies realize that their human assets are their strongest.

Not knowing the circumstances, Hitech and Pyro bailed to form this company. Obviously they had a reason. Had the circumstances been different and these guys stayed, WB might have been stronger.

Later on when iEN decided to uproot the Texas team and move them to NC, they lost the rest of their core programmers - who are quickly becaming competition with CRS and WWIIOL.

This is only speaking from the outside and I'm sure that I'm missing a lot, but when the suits get involved and think they know how to run these kinds of companies, they almost always screw it up.

Again, only speculation, but in a company focusing on "uncompromising fiscal discipline" this release looks a lot like they are squeezing the lemon to look good for a buyout. My guess is nobody is getting raises and paperclips are hard to come by.

Strictly speculation, however.

[-sudz-]

Not having worked for iMagic/iEN for quite a while, I can't say for sure, not being familiar with the current crop of marketeers, and not qualifying this sentence to much but - this is exactly the kind of valuation crap iEN periodically "leaks" to boost stock prices.

"We've been approached" probably means some tech support temp at MSN had to call to get their account deleted.  Or, if in fact they have been approached on an actual merger, they leaked it to get other companies in the bidding war.

Since I still have stock in the company I hope this is true and I will eventually see some return.  But I also hope that whoever buys them out asks them all to relocate to El Paso, TX to "consolidate" the "talent pool".

-Sudz