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The pre14-C filing
Current share structure:
Mark Cuban takes on concert CD venture
11:04 AM CST on Wednesday, January 25, 2006
By CRAYTON HARRISON / The Dallas Morning News
An investment firm owned by Dallas Mavericks owner Mark Cuban has agreed to buy a controlling stake in a Richardson-based company that sells CD recordings of live concerts minutes after the performances conclude.
Mr. Cuban’s firm, Radical Holdings LP, will pay $3 million, or about 68 cents per share, for shares representing about 95 percent of Immediatek Inc.’s outstanding shares, according to a filing with the Securities and Exchange Commission.
The transaction is expected to close in February.
Immediatek, led by chief executive Zach Bair, provides the concert CDs through its subsidiary DiscLive, acquired in 2004 for $833,000.
Mr. Bair and chief operating officer Paul Marin will remain with the company in their current positions, Immediatek said.
Mr. Cuban did not immediately respond to an e-mail Wednesday. Mr. Bair declined to comment.
Email From Company CEO 1/26/06:
DiscLive will continue to operate and will continue as a wholly owned
subsidiary of Immediatek. Mark's company is bringing a huge investment into
Immediatek/DiscLive, and we are very excited that now we will be able to
fully build out our business model.
At this time, however, I can't discuss anything further, but I can say that
our company has an exciting future!
Zach Bair, President/CEO & Chairman
Founder and former president/CTO and director of PowerUp Networks (now Voyence); creator of TexasComputerJobs, Inc. and PilotJobs.com; past consultant to EDS, Sprint, Nortel, American Airlines, Sabre, and Marathon Oil; founder and former operator of an advertising agency; former IT manager; former Art Director, Galveston Daily News; former Publisher, Dallas Musician Pocket Calendar; Senior Network Engineer, Senior Web Application Designer. Musician, producer and recording artist with his band, No Control.
Paul Marin, Chief Operating Officer & Director
Former CEO/President of LCD Interactive; founder of www.twobigtoes.com (now Immediatek's indie music destination).
Phil Miller, CFO
Peter Donovan, Advisory Board - Global Marketing
Past Chief Marketing Officer for PowerUp Networks; former VP Global e-business Marketing, Nortel Networks and also Cabinet Member; world renowned author of Delighting Customers (Chapman & Hall); former executive, Cable & Wireless; former executive, British Telecom. Peter is currently a General Partner of Top Gun Ventures.
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