LEARFIELD SPORTS, ISP SPORTS ACQUIRE ACTION SPORTS MEDIA

Joint Purchase Inclusive of Seven University Partner Contracts,
Kentucky’s Rupp Arena

DALLAS and WINSTON-SALEM, N.C. (Feb. 19, 2008) – Learfield Sports and ISP Sports officially have come to terms in the joint acquisition of Action Sports Media, as announced today by Learfield Sports’ President Greg Brown and ISP Sports’ Chairman and CEO Ben Sutton.

This move signals accelerated growth in the collegiate sports marketplace for Learfield Sports and ISP Sports, both of which are recognized leaders in the space managing multimedia rights for more than 40 and 45 properties, respectively. Financial terms of the deal were not disclosed. It is inclusive of all existing contracts with arena and stadium signage that Alcoa, Tenn.-based Action Sports Media previously held with its seven university partners – Kansas State, Oklahoma State, Purdue, South Carolina, University of South Florida, Elon and Portland – as well as an agreement with Lexington’s Rupp Arena, home to University of Kentucky basketball.

ISP Sports and Learfield Sports have established a new entity to acquire Action Sports Media, and the new entity will be responsible for ownership and operation of the Action Sports Media business. Each company will provide various services to the new entity, with approximately 10 former employees of Action Sports Media becoming employed by either Learfield Sports or ISP Sports under the agreement. The two entities already share long-term joint venture agreements at a number of universities, including Alabama, Clemson, Miami (Fla.) and South Carolina – providing what executives ensure will be a seamless transition for the former Action properties.

“We look forward to deepening ISP’s existing relationships at a number of schools including the University of South Carolina and University of South Florida. Action Sports Media has focused on video and signage rights that will now enhance the overall rights packages at various schools,” said Sutton.

“This is a terrific way to usher in 2008, recognizing an entirely new extension for our company,” said Brown. “While we already have relationships with some of the properties we’re acquiring from Action Sports Media, we are pleased to start afresh with the others and help them grow through these revenue streams. This deal makes sense for both us and ISP, and we firmly believe those schools won’t miss a beat during the transition.”

Concurrent with this transaction, Action Sports Media will be rebranded and operate under an entirely new name.  The new name is part of a reorganization to improve operational efficiencies and will continue to be headquartered in Alcoa (Knoxville), Tenn., and serve as the corporate arm of the company including all executive personnel.  This includes both Gordon Whitener, Chairman and CEO, and Jerry Felix, CFO, who will continue to oversee the remaining business entities (Varsity Sports Media, Inc., FanU, Inc., WVLZ 1180 AM ESPN and WKCE 1120 AM ESPN Deportes, Unified Armies of America, Inc., bLinc Sports, Inc., and CoolXposure, Inc.), as well as pursue new opportunities in the media industry.

“With consolidation happening in our industry, we felt the timing was right to divest the collegiate multimedia rights-portion of our business,” said Whitener. “We have been blessed to work with some great universities and internal staff dedicated to these properties.  After a thorough process, ISP and Learfield are clearly the best fit for our sales staff making the transition. Both Ben and Greg have been great to work with throughout this process."

Dallas-based Learfield Sports is an operating unit of Jefferson City, Mo.-based Learfield Communications, Inc., which made its initial foray into the world of sports marketing in 1975 as the radio rights holder for the University of Missouri, a client still today.

In addition to managing rights for 40-plus collegiate properties, Learfield Sports also manages the marketing partnerships for the Black Coaches & Administrators (BCA) and provides exclusive sports programming to more than 1,000 radio stations nationwide.  Additionally, Team Services, LLC, a Learfield Sports company, specializes in venue naming rights, marketing research and sales consultation.  For more information about the company and to see a complete listing of Learfield Sports' portfolio, visit learfieldsports.com.

Founded in 1992 in Winston-Salem, N.C., ISP Sports has enjoyed tremendous growth within the intercollegiate athletics marketplace since its inception. The company serves as an active multimedia partner with more than 50 university and conference partners. Sports fans from upstate New York to south Florida, from Texas to Ohio and from California to Washington state can tune in to the ISP Sports Network, which includes nearly 800 radio affiliates, while television viewers all across America watch ISP Sports programming on one of its 100+ outlets. To find out more about ISP, America’s Home for College Sports, visit www.ispsports.com.

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