Small Business Resources, Business Advice and Forms from AllBusiness.com
 

Home Shopping Latino, Inc. Announces Merger Agreement with 1-800-Auto Tow.

MIAMI -- Home Shopping Latino, Inc., dba Viva TeleCompras, today announced its merger with a Delaware company, 1-800-Auto Tow Inc. Under the terms of the merger, Home Shopping Latino's operations were mergered with and into 1-800-Auto Tow, 1-800-Auto Tow changed

its name to "Home Shopping Latino, Inc.", the shares of 1-800-Auto Tow were reverse split on a 100:1 basis, and all the shares of 1-800-Auto Tow were cancelled and then immediately re-issued by the newly-merged company. The merger became effective for all purposes on Nov. 6, 2006. As a result of the merger, 1-800-Auto Tow's shares are now traded on the Pink Sheets under the trading symbol "HSPL.PK".

Home Shopping Latino is an all Spanish Language Television Channel and Online Shopping Web site. Hoping to tap into the considerable spending power of the growing U.S. Hispanic population, a Delaware-based company plans to roll out a new shopping channel expressly for a Spanish-speaking audience.

Viva TeleCompras and its accompanying Web site, www.vivatelecompras.com, which are being developed by Home Shopping Latino, Inc., will fill a niche by reaching out to 7.9 million Hispanic homes - more than 85 percent of the Hispanic households in the U.S. Planned offerings include jewelry, electronics, household items and computers. In addition, the network intends to offer its own credit card and payment plans for higher-priced items.

HispanTelligence, the research division of Hispanic Business Inc., reported that Hispanic home ownership is currently at its highest level and increasing at four times the rate of total U.S. ownership. The three main markets in the U.S., Puerto Rico and Mexico have a combined TV household population of 29.5 million and a combined purchasing power of $700 billion, an attractive source of revenue for advertisers. This market is projected to increase to nearly $1 trillion in the next few years.

HispanTelligence also found that Hispanic employment rates have increased to more than 16 percent in the last five years, as compared to a mere 2 percent overall in the U.S. A growing number of Hispanic entrepreneurs and a greater interest in investing - both in homeownership and stocks - have led to a marked increase in the overall net worth of the Hispanic population.

By using a fun, fast-paced format with well-known Latino personalities as hosts and featuring carefully planned promotions, Home Shopping Latino is hoping Viva TeleCompras will garner a loyal following among the Hispanic community.

From studios in southern Florida, Viva TeleCompras will share the airwaves with such big names such as HBO, National Geographic and Cinemax. Its debut is planned for the first quarter of '07.

This press release may contain certain forward-looking information and statements concerning the company's operations, performance and financial condition. These statements are based upon a number of uncertainties and contingencies, many of which are beyond the control of the company. Actual results may differ materially from those expressed or implied by such forward-looking statements. This document is not intended and is not an advertisement for any securities of the company.

In addition, make sure to read these articles:

  • New Shopping Channel Home Shopping Latino Inc.
  • MIAMI -- Hoping to tap into the considerable spending power of the growing U.S. Hispanic population, a Delaware-based company plans to roll out a ......
  • JCPenney Selects Hispanic Model Search Finalists;...
  • Feature Editors/Business Editors PLANO, Texas--(BUSINESS WIRE)--June 18, 2003 JCPenney today announced 43 finalists selected to compete in the Company's Modelo Mundial-World Model(TM) 2003 Hispanic model ......
  • J. C. Penney Corporation, Inc. Completes...
  • Business Editors PLANO, Texas--(BUSINESS WIRE)--Aug. 12, 2002 J. C. Penney Corporation, Inc. (the "Corporation"), the wholly-owned operating subsidiary of J. C. Penney Company, Inc. ("Company") ......
  • Speidel Acquired in Management Buyout
  • Speidel Inc., the leading distributor of watchband attachments worldwide, announced Dec. 19 that company president Jeffrey R. Massotti had purchased both Speidel Inc. and Providence ......
  • Pulte Homes, Inc. to Hold Website Broadcast of...
  • Business Editors BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--July 5, 2001 Pulte Homes, Inc. (NYSE:PHM) today announced that it will have a live webcast of its second quarter ......
  • Pulte Homes Declares Regular Quarterly Dividend.
  • Business Editors BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Sept. 6, 2001 Pulte Homes, Inc. (NYSE:PHM), announced today that its Board of Directors declared a regular quarterly dividend of ......
  • Hilton Vacation Station Preps for Vacation...
  • Business Editors/Travel Writers BEVERLY HILLS, Calif.--(BUSINESS WIRE)--June 1, 2004 With summer just around the corner, Hilton Hotels (NYSE:HLT) is stocking up on toys, cooler carriers ......
  • Pulte Homes Declares Regular Quarterly Dividend.
  • Business Editors BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Dec. 13, 2001 Pulte Homes, Inc. (NYSE:PHM), announced today that its Board of Directors declared a regular quarterly dividend of ......
  • Former Eurway owners open MG+BW store
  • Austin, Texas— The founders and former owners of Dallas-based retailer Eurway have opened their first dedicated Mitchell Gold + Bob Williams store here and plan ......
  • Con-way Freight Driver Achieves Record Two Million...
  • Professional Truck Driver Steve Freitag Joins List of 12 Con-way Drivers ANN ARBOR, Mich., and CHARLESTON, W. Va. -- Con-way Freight, a less-than-truckload carrier and ......
  • Tomato tutorial
  • THE warm early spring weather was just one reason to enjoy being in Jackson, MS, in March. The better reason, of course, was the 2003 ......
  • Invisa Increases Worldwide Distribution Network.
  • SARASOTA, Fla. -- Invisa Inc. (OTCBB: INSA), an electronic life safety and security company, announced that it has significantly increased its distribution network throughout ......
  • Using procurement to feed the bottom line
  • In less than 16 months, Pilgrim's Pride's integration of its latest acquisition, ConAgra's chicken division, has had a clear upward impact on the sales, profits ......
  • Cablevision Boosts Spanish Tier
  • Bethpage, N.Y.— Cablevision Systems has buttressed its iO en Español package, adding four new channels. The fast-growing Spanish-language tier now includes NDTV-The Dominican Channel, Ecuavisa ......
  • Con-way Freight Announces Expansion of Freight...
  • Major Infrastructure Investment Adds Capacity for Future Growth ANN ARBOR, Mich. & FREMONT, Ind. -- Con-way Freight, a less-than-truckload carrier and subsidiary of Con-way Inc....