August 9, 2001 5:22pm
DALLAS, Aug. 9 /PRNewswire/ -- Source Media, Inc. (OTC Bulletin Board: SRCM), a leading provider of interactive digital cable TV applications and audio and text applications for all digital media platforms, announced today that it has retained Evercore Partners L.P. as financial advisor to assist it as it continues the evaluation of its strategic alternatives and to assist in the implementation of its plans derived from this evaluation process. Evercore replaces UBS Warburg, its previous financial advisor.
"We are working cooperatively with the holders of our 12% Senior Secured Notes to move through this process as expeditiously as possible," said Steve Palley, CEO of Source Media. "The retention of Evercore enables us to advance the best interests of the Company and its stakeholders efficiently. In the meantime we are operating our business as usual."
Evercore Partners, based in New York and Los Angeles, CA, provides strategic, financial and restructuring advisory services to major corporations. Evercore has advised on over $100 billion of announced or closed merger and acquisition transactions. Recent advisory work includes advising
Accenture Ltd. in its recent IPO,
ACNielsen on its merger with VNU NV,
General Mills on its pending acquisition of Pillsbury from Diageo plc,
CBS Corporation on its merger with Viacom and
Dow Jones & Company on its interactive joint venture with Reuters.
Evercore also makes private equity investments through its Evercore Capital Partners affiliate and venture investments through its Evercore Ventures affiliate.
Evercore Capital Partners' investments include American Media,
Continental Energy Services,
Callahan Associates International LLC and
Telenet Holding, NV.
Venture investments include
Go2 Systems and