SOURCE: Fortune Market Media, Inc.

February 19, 2009 15:16 ET

Fortune Market Media Makes Offer for Yellow Pages Israel and All Its Subs, Including Lucrative D&B Israel

TARZANA, CA--(Marketwire - February 19, 2009) - Fortune Market Media (PINKSHEETS: FTMK) announced today that it has made a unsolicited binding offer to purchase GPM, owner of Yellow Pages Israel, and majority shareholder of Dunn & Bradstreet Israel and other web-based service companies from Babcock and Brown Capital Ltd. (BBC), an Australian hedge fund for $7.5 million and the assumption of up to $50 million in debt held by private bondholders. The offer includes a restructuring and repayment plan for the bondholder's debt without discount. Fortune Market Media intends to replace all GPM management upon closing, if at all. If accepted, the offer calls for the deal to be closed by the end of February 2009. Upon closing, if at all, GPM will become a wholly owned subsidiary of Fortune Market Media and will be consolidated accordingly.

This offer is unsolicited (even though binding the Companies until the end of February 2009). As such, there is no guarantee that Fortune Market Media will be able to successfully close the above transaction.

About: Fortune Market Media

Fortune Market Media (FMM) is a diversified media and communication corporation servicing public and private companies with our turn-key media solutions. FMM is the leader in creating original programming for interactive media online, mobile, traditional print, radio and TV. FMM powerhouse production team allows it to create original programming that will reach targeted audience. FMM helps build businesses organically by connecting their brands with their desired demographic.

About: Golden Pages Group

Golden Pages Group owns 100% of Yellow Pages Israel, controlling interests of Dunn & Bradstreet Israel and several other service based companies such as:,,,, Yellow Pages provides comprehensive, dynamic information about products, services and businesses, supplies the tools to choose between them, and offers aids which assist in completing transactions between buyers and sellers in Israel. In the company's website --, in cellular phones, and of course, in over 80 printed directories, which are distributed free of charge in approximately five million copies. Five million printed directories are annually distributed free of charge to buyers and sellers.

Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact Information

  • Contact:
    Investor Relations
    Arthur Kats