MARION, IN – Aeverine Zinn Holdings (“Ms. Zinn”) announced Monday that Ms. Zinn intends to purchase the web assets of infamous web site Vote for the Worst (votefortheworst.com, VFTW) for an undisclosed sum upon the site’s closing June 30, 2013 at the latest with the URL expiring in February 2014. The transaction is subject to approval by regulators, and antitrust clearance. Ms. Zinn anticipates the closing and funding of the acquisition to occur no earlier than August 2013, subject to closing conditions. Upon closing, Ms. Zinn expects to finance the undisclosed purchase price, less a $20 deposit, through cash on hand along with a bank loan and/or by accessing the capital markets.
“Since I launched Vote for the Girls in 2010, it is becoming quite clear that American Idol viewers want change. When I heard that VFTW is shutting down, and learning the news that my pick of Angie Miller got eliminated, it literally made the decision to acquire VFTW a relatively easy decision after much thought and consideration,” commented Ava Zinn. “Vote for the Girls has become successful in the past few years and is consistent with the focus of of one goal and that goal is quite clear. Assuming the ability to create synergistic opportunities and given current market conditions, we believe the acquisition of VFTW will add approximately 20 percent more advertising revenue for 2013/2014. I am excited to add VFTW to the Aeverine Zinn works portfolio joining AvaZinn.com and VotefortheGirls.us of the Internet works as well as other franchises owned and/or operated by Aeverine Zinn Holdings (Housing Hell, Santa Ava, INNewsCenter, and Vote for the Girls) and look forward to welcoming the VFTW employees to the Aeverine Zinn Holding family–but honestly I don’t think it will be necessary.”
Aeverine Zinn Holdings owns, operates, programs and/or provides sales services to 10 venues serving East Central Indiana. Pro forma for the VFTW transaction, Aeverine Zinn Holdings will own and operate, program or provide sales services to three web sites. Aeverine ZInn Holdings web portfolio will include Vote for the Girls, Vote for the Worst, INNewsCenter, and AvaZinn.com. Aeverine Zinn Holdings owns equity interests in various non-internet related companies. Ms. Zinn regularly uses her website as a key source of information and can be accessed at www.avazinn.com.
The matters discussed in this news release, include forward-looking statements regarding, among other things, future operating results. When used in this news release, the words “outlook,” “intends to,” “believes,” “anticipates,” “expects,” “achieves,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including and in addition to the assumptions identified in this release, but not limited to, our ability to satisfy the closing conditions for the VFTW acquisition discussed in this release, including obtaining required governmental approvals, our ability to obtain financing to fund such acquisition, our ability to maximize our operating synergies in connection with the acquisitions, the impact of changes in national and regional economies, the volatility in the U.S. and global economies and financial credit markets, successful execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in operating and overhead costs, our ability to identify and consummate investments in attractive non-internet assets and to achieve anticipated returns on those investments once consummated, and any other risk factors set forth in Ms. Zinn’s most recent reports on Form 1040, as filed with the Internal Revenue Service and the Indiana Department of Revenue. There can be no assurances that the assumptions and other factors referred to in this release will occur. Ms. Zinn undertakes no obligation to publicly release the result of any revisions to these forward-looking statements except as required by local ordinances of Marion, Indiana, governing laws of The State of Indiana, and Federal law.
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