Business Services Industry
The Star Tribune to Launch Auction with CityXpress
Business Wire, May 28, 2003
Business Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 28, 2003
CityXpress Corp. (OTCBB:CYXP), the leading supplier of event auctions to the newspaper industry, today announced that it has completed an agreement with the Star Tribune which serves the Minneapolis/St. Paul area to launch a newspaper and online auction that enables consumers to bid on brand new merchandise from local merchants.
"The Star Tribune is one of the nation's leading newspapers, so we're excited to be working with them on this premier revenue-generating event," said Phil Dubois, President & CEO of CityXpress. "Having conducted more than 60 newspaper auctions over the last year, our sales development team is working directly with the Star Tribune's staff in preparation for the launch of their auction in June 2003."
With over 150 newspapers using its products, CityXpress provides its growing number of newspaper affiliates with innovative programs that generate new sources of advertising revenue. Xpress Auctions, the most comprehensive product available, allows newspapers to efficiently manage all aspects of conducting a newspaper event auction. The Company's Xpress Special Sections delivers a powerful package of fresh editorial content and contextually-related advertising and promotional products, providing targeted promotional opportunities for local advertisers wishing to reach a valuable niche audience.
ABOUT CITYXPRESS
CityXpress is the market leader in event auctions and online special sections for newspapers. CityXpress has offices in Seattle WA; Tampa and Fort Walton Beach FL; Vancouver BC; and Winnipeg MB. CityXpress shares trade on the NASD OTCBB under symbol CYXP. More information on CityXpress is available at www.cityxpress.com.
ABOUT THE STAR TRIBUNE
The Star Tribune Company, a news and information company serving the Minneapolis/St. Paul area, is a subsidiary of The McClatchy Company of Sacramento, Calif. (NYSE:MNI). The Star Tribune newspaper is one of the 20 largest daily metropolitan newspapers in the nation, with a daily circulation of 375,505 and a Sunday circulation of 669,358 (per Audit Bureau of Circulation report 03/03). The company's Web site, www.startribune.com, is the most frequently used local news and information service for the Twin Cities market. The Star Tribune Foundation has been supporting Twin Cities' communities since 1945 and currently distributes about $3 million annually. On the Net: The Star Tribune Company: www.startribune.com/company, and The McClatchy Company: www.mcclatchy.com.
This press release and/or communication contains forward-looking statements regarding the Company's business strategy and future plans of operations. Such forward-looking statements can generally be identified by words such as will, expect, intends, believe, anticipates should and words of similar meaning. Forward-looking statements involve known and unknown risks and uncertainties, such as the Company's capital requirements and other liquidity concerns, fluctuations in demand for newspaper auctions and for the Company's other products, competitions, technological developments, and other risks and factors set forth from time to time in the Company's filings with the Securities and Exchange Commission and other press releases and/or communications of the Company. These and other important factors may cause actual results and performance to differ materially from the further results expressed in or implied by such forward-looking statements. The forward-looking statements contained in this press release and/or communication speak only as of the date hereof based on information available to the Company as of the date hereof, and the Company does not assume, and expressly disclaims any obligation or duty to update, revise or amend any of the information presented herein.
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