UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 12, 2000
SYNERGY BRANDS INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-19409 22-2993066
(State or Other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
40 Underhill Blvd., 11791 Syosset, N.Y.
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516)682-1980
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FORWARD LOOKING STATEMENTS
Certain statements in this Form 8-K, including statements prefaced by the
words "anticipates", "estimates", "believes", "expects" or words of similar
meaning, constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements.
ITEM 5. OTHER EVENTS.
On December 12, 2000, the Registrant ("SYBR") entered into an agreement
with one of the largest U.S. based media bartering companies to transfer $15
million of its radio and television advertising and promotional support provided
by Sinclair Broadcast Group, Inc. ("SBGI")for cash and trade credits. In
addition SYBR entered into an agreement with SBGI which modifies their original
agreement of November 1999, and provides for SBGI to exchange its 50% ownership
interest in BeautyBuys.com, Inc. ("BeautyBuys"), a subsidiary of SYBR, for an
increased equity interest in SYBR to 3.2 million shares and options. In
addition, BeautyBuys will relieve SBGI of its obligation to provide $8 million
(of the $15 million) of its media inventory.
As a result of the exchange, BeautyBuys again will become a wholly-owned
subsidiary of SYBR. Further, SBGI will relinquish its seats on BeautyBuy's
board.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SYNERGY BRANDS, INC.
By: /s/ Mitchell Gerstein
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Name: Mitchell Gerstein
Title: Secretary
Date: December 18, 2000
