SOURCE: Premiere Publishing Group, Inc.

January 21, 2011 08:00 ET

Premiere Publishing Group, Inc. (OTCBB: PPBL) to Spin Off Its Bold Acquisition Corp., Inc. Subsidiary

TOTOWA, NJ--(Marketwire - January 21, 2011) - Premiere Publishing Group, Inc. (OTCQB: PPBL) (OTCBB: PPBL), in keeping with its posture of increasing shareholder value, is expecting to spin off its Bold Acquisition Corp. subsidiary.

Chris Giordano, Co-Chairman of Premiere Publishing Group, Inc., stated that "We expect to file within the second quarter an S-1 registration statement which will allow us to spin off the Bold Acquisition Corp. subsidiary to our shareholders.

"Bold Acquisition Corp., Inc. will be using its platform as a stand alone public company to seek out other opportunities in the media space which could include but not be limited to magazine publishing companies, movie libraries, sound byte libraries as well as other opportunities in the category.

"We also are exploring some opportunities for our Bold TV division as well. The critical success of the flagship show 'WHO THE HELL IS DAN BRUDER?' has led us to explore some additional programming opportunities that we hope to have closure on in the not too distant future.

"We will be aggressively utilizing the experience and expertise of our team here at Premiere to help finance these opportunities as they present themselves.

"The market is right for the acquisition of certain properties and we have done some exploratory canvassing which led us to discussing the potential of operating sound byte libraries and movie libraries that could be purchased for as little as 2-3 times EBITDA.

"The market for such properties is very depressed and now is the time to try and pursue the acquisition of such companies and or libraries. The market is very fragmented and shows great promise to implement a 'Roll Up' strategy to increase the overall value of the venue rather than relying strictly on 'organic growth.' We feel these acquisitions can be accomplished utilizing a combination of cash, mezzanine financing and equity.

"Rather than have Premiere Publishing Group, Inc. finance those opportunities directly and dilute the common stock at this time we feel it is much more prudent and efficient to use the stand-alone equity of the Bold Acquisition Corp., Inc. subsidiary to finance these opportunities when they present themselves."

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