Collegiate Funding Services Announces Acquisition of Online College Media Properties
03 November 2005 - 2:01PM
PR Newswire (US)
FREDERICKSBURG, Va., Nov. 3 /PRNewswire-FirstCall/ -- Collegiate
Funding Services, Inc. (NASDAQ:CFSI) today announced that Y2M:
Youth Media and Marketing Networks, its wholly owned advertising
and direct marketing subsidiary, has agreed to acquire the online
publishing and national advertising assets of New Digital Holdings,
Inc. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO ) The
combined online media network will serve approximately 450 school
publications at colleges and universities with more than 4 million
enrolled students. College newspapers, both online and print
editions, are an important source of information for college
students and alumni. According to the Spring 2005 Lifestyle &
Media Report by Student Monitor, a market research study of the
college student market, college newspapers have been the most read
media source by students, with 76 percent of students reading at
least one edition of the past five issues. "As a result of this
acquisition, student newspapers will benefit from a single network
and a common technology platform, enabling them to further engage
their readers thru the electronic distribution of their content via
their online and email editions," said John Fees, executive vice
president of Collegiate Funding Services and president of Y2M. "In
addition, advertisers will have an increased ability to serve the
collegiate market and the 2.1 million registered users who frequent
online college newspapers." About Collegiate Funding Services
Collegiate Funding Services is a leading education finance company
dedicated to providing students and their families with the
practical advice and loan solutions they need to help manage and
pay for the cost of higher education. Collegiate Funding Services
also offers a comprehensive portfolio of education loan products
and services -- including loan origination, loan servicing and
campus-based scholarship and affinity marketing tools -- to the
higher education community. As of September 30, 2005, Collegiate
Funding Services had facilitated the origination of more than $21
billion in education loans; the company currently manages $12
billion in student loans for more than 476,000 borrowers. For
additional information, visit http://www.cfsloans.com/ or call
1-888-423-7562. About Y2M: Youth Media & Marketing Networks Y2M
is a media and marketing company focused exclusively on the college
market. From its headquarters in Boston, Mass., the company reaches
college students and recent graduates where they live, study, work
and play, through media properties including official campus
newspapers and underground campus communities. Leveraging its
knowledge of college-educated consumers, Y2M helps advertisers,
including Ford Motor Company, Samsung Electronics NA, Amazon, Apple
and Citibank effectively communicate with students and graduates
online, in print and on campus. Y2M owns and operates College
Publisher, the leading provider of content management and
advertising services to the college newspaper market. For more
information, please call 617-399-8000 or visit http://www.y2m.com/.
Forward-Looking Statements This news release includes
"forward-looking statements" about Collegiate Funding Services,
Inc. within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. When used in this release, the words "looking
forward," "expects," "plans," "intends," "believes," "forecasts,"
or future or conditional verbs, such as "will," "should," "could"
or "may," and variations of such words or similar expressions are
intended to identify forward-looking statements. Among the key
factors that may have a direct bearing on the company's operating
results, performance or financial condition are (1) the company's
ability to successfully integrate the operations of acquired
entities; (2) changes in terms, regulations and laws affecting
student loans and the educational credit marketplace; (3) changes
in the demand for educational financing or in financing preferences
of educational institutions, students and their families; (4)
changes in the credit quality or performance of the loans that the
company purchases, retains, services and securitizes; or (5)
changes in interest rates and in the securitization or secondary
markets for education loans. Important factors that could cause the
company's actual results to differ materially from the
forward-looking statements the company makes in this release are
set forth in the company's filings with the Securities and Exchange
Commission, including in the section entitled "Risk Factors" in the
company's Quarterly Report on Form 10-Q for the Quarter Ended June
30, 2005. The company undertakes no obligation to update or revise
forward-looking statements which may be made to reflect events or
circumstances that arise after the date made or to reflect the
occurrence of unanticipated events unless the company has an
obligation to do so under the federal securities laws.
http://www.newscom.com/cgi-bin/prnh/20050714/DCTH039LOGO
http://photoarchive.ap.org/ DATASOURCE: Collegiate Funding
Services, Inc. CONTACT: Media: Ann Collier, Senior Vice President,
Corporate Communications, +1-540-368-5970, , or Investors: Gary
Tiedemann, Vice President, Investor Relations, +1-540-735-1235, ,
both of Collegiate Funding Services, Inc. Web site:
http://www.cfsloans.com/ http://www.y2m.com/
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