Business Services Industry
The Sports Club Co. Inc. and Gold's Gym Enterprises Inc. Announce Letter of Intent for Acquisition of Gold's Gym
Business Wire, Sept 16, 1997
LOS ANGELES--(BUSINESS WIRE)--Sept. 16, 1997--The Sports Club Co. Inc. (ASE:SCY) and Gold's Gym Enterprises Inc. Tuesday announced that they had entered into a non-binding letter of intent for The Sports Club Co. Inc. to acquire the operations of Gold's Gym Enterprises Inc. and its related companies.
Gold's Gym Enterprises owns one Gold's Gym in Venice, Calif., and a related company acts as franchisor with respect to approximately 550 Gold's Gyms throughout the world. Gross revenues from Gold's Gym franchising operations in 1996 were approximately $2.6 million. D. Michael Talla, chairman of The Sports Club Co., said, "At this point the parties are investigating the desirability of a business combination and it is premature to predict whether the transaction will be consummated."
The Sports Club Co. operates upscale health and fitness clubs under the Sports Club and Spectrum Club names.
CONTACT: The Sports Club Co. Inc.
John M. Gibbons, 310/479-5200
or
Gold's Gym Enterprises Inc.
Ed Connors, 310/392-3005
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
Presented by American Express