STOWE, Vermont ??вЂќ Prime Rate Investors, Inc. (OTC.PK: PRRM) announced it has closed its acquisition of the majority ownership of N’EAST Magazine, L.L.C., publisher of the magazine by the same name dedicated to outdoor adventures, sports, travel and lifestyle in and around northeast North America. Based in Osterville, MA, the magazine’s premiere issue was released in August, 2004.
“N’EAST Magazine represents an ideal opportunity to further expand Prime Rate Investors multi-media presence in the outdoor sports and travel industries. It is fully in line with our vision of growth and shows tremendous potential for market share capture and increased revenues,” said Prime Rate Investors President Dan Burgess.
“The resources, relationships and opportunities for cross marketing that PRRM brings to N’EAST will fuel the magazine’s growth and momentum, establishing N’EAST as the premier adventure lifestyle magazine in the northeast,” enthused N’EAST President Jim McGinley.
Prime Rate Investors (OTC.PK: PRRM) is a multi-media holding company with interests in outdoor sports, e-tail, retail, print, web, television and film. The company’s strategic relationships with multi-faceted, outdoor sports entities allow it to offer diverse advertising solutions to businesses seeking multi-media exposure. Its wholly owned subsidiaries include Stowe TV-10, and Adirondack TV-33, RSN affiliated cable broadcast companies and High Angle Media, Inc., a video production company that also manages two other RSN affiliates Sugarbush TV-12 and Smuggs TV-9. The Company’s wholly owned subsidiary BCTV produces the outdoor adventure series “Backcountry TV.” Prime Rate Investors also owns the majority interest of Stockli Ski USA, the exclusive U.S. distributor of Stockli skis, bikes and sportswear.