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Exhibit 99.1
Investor Contact:
Jordan M. Copland
Executive Vice President and Chief Financial Officer
Global Sports, Inc.
(610) 491-7000
[email protected]
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Media Contact:
Dana Stein Grosser
Director of Corporate Communications
Global Sports, Inc.
(610) 491-7000
[email protected]
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A. FOR IMMEDIATE RELEASE
GLOBAL SPORTS, INC. COMPLETES ACQUISITION OF FOGDOG, INC.
KING OF PRUSSIA, PENNSYLVANIA, December 28, 2000 - GLOBAL SPORTS, INC. (NASDAQ:
GSPT), a leading developer and operator of e-commerce businesses, completed
today its acquisition of Fogdog, Inc. (NASDAQ: FOGD), following approval of the
transaction by Fogdog shareholders. Under the terms of the transaction, Fogdog
shareholders will receive 0.135 of a share of Global Sports common stock for
each outstanding share of Fogdog common stock. Approximately five million
shares of Global Sports common stock will be exchanged for all outstanding
shares of Fogdog. Global Sports will also assume all outstanding options and
warrants to purchase shares of Fogdog common stock.
(a) About Global Sports
Global Sports, Inc. (www.globalsports.com) is a leading developer and operator
of e-commerce businesses. Global Sports develops and operates the e-commerce
sporting goods businesses of specialty retailers, general merchandisers,
Internet companies, and media companies under exclusive long-term agreements.
(b) Forward-Looking Statements
This news release contains forward-looking statements that involve risks and
uncertainties that could cause actual results or outcomes to differ materially
from those contemplated by the forward-looking statements. Factors that could
cause or contribute to such differences include, but are not limited to, the
timing and successful completion of technology and product development efforts,
integration of the technologies and businesses of Global Sports and Fogdog,
unanticipated expenditures, and changing relationships with customers, suppliers
and strategic partners. More information about potential factors that could
affect Global Sports' ability to make this acquisition successful are described
in the most recent Form 10-Q, most recent Form 10-K, and other periodic reports
filed by Global Sports with the Securities and Exchange Commission.
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Additional Information and Where to Find It
Global Sports filed a Registration Statement on SEC Form S-4 in connection
with the merger. The Registration Statement and the Proxy Statement/Prospectus
contain important information about Global Sports, the merger and related
matters. Investors and security holders are able to obtain free copies of these
documents through the Web site maintained by the U.S. Securities and Exchange
Commission at http://www.sec.gov.
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In addition to the Registration Statement and the Proxy Statement/Prospectus,
Global Sports files annual, quarterly and special reports, proxy statements and
other information with the Securities and Exchange Commission. You may read and
copy any reports, statements or other information filed by Global Sports at the
SEC public reference rooms at 450 Fifth Street, N.W., Washington, D.C. 20549 or
at any of the SEC's other public reference rooms in New York, New York and
Chicago, Illinois. Please call the SEC at 1-800-SEC-0330 for further
information on the public reference rooms. Global Sports' filings with the SEC
are also available to the public from commercial document-retrieval services and
at the Web site maintained by the SEC at http://www.sec.gov.
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