Client News Release
SOHU.COM Announces US$150 Million Stock Repurchase Program and HLTH starts buyback of up to 80 million shares
City of Industry, CA --(www.FinancialNewsUSA.com)-- 10/27/2008 - Internet Information Provider industry news provided by Financial News USA (OTC: FNWU). Sohu.com Inc. (Nasdaq: SOHU), China's leading online media, communications, search, online games and mobile value-added services company, today announced that its Board of Directors has authorized a stock repurchase program of up to US$150 million of its outstanding shares of common stock through the end of 2009. The shares may be repurchased from time to time at management's discretion at prevailing market prices in the open market in accordance with Rule 10b-18 under the Securities Exchange Act of 1934. The Company's management will determine the timing and amount of any repurchases based on their evaluation of market conditions, stock price and other factors. The stock repurchase program may be suspended or discontinued at any time.
Elysium Internet, Inc. (OTCBB: EYSM), a next generation Internet advertising and new media Company, today announced that it expects to report a sequential sales increase in excess of 100% for its fiscal third quarter ended August 31, 2008 fueled by increases in sign-ups to its targeted Internet Directories. Elysium anticipates filing its third quarter form 10Q with the Securities and Exchange Commission within days. Elysium Internet CEO Scott Gallagher commented, "We're pleased to see such a positive early response from the launch of several of our new Internet Directories. In Q3 the majority of our sign-ups came through www.Therapists.net. So far in the first month or so of our fiscal Q4 we're seeing www.DietitiansDirectory.com generate the best results in our portfolio. Heading into 2009 and beyond, we expect www.Podiatrists.com, www.Pediatricians.com, www.Auditors.com and Psychiatrists.com to become the main revenue drivers as we emerge from a start-up venture into a profitable high growth Internet media Company." Gallagher went on to say, "In these uncertain economic times our cost effective advertising and Internet solutions are being very well received, as are the natural page one Google ranking of sites like www.DietitiansDirectory.com and www.Auditors.com. We've begun monetizing all top domains in our portfolio and expect further top line sales increases during the remainder of 2008 and into the first half of 2009."
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HLTH Corp. (Nasdaq: HLTH), the parent of health Web site WebMD.com (Nasdaq: WBMD), said Monday it has stared a tender offer for up to 80 million shares of its own stock. HLTH said it will buy the stock for $8.80 per share, implying a maximum price of $704 million. HLTH said it will repurchase about 43 percent of its available stock if it buys all 80 million shares. The buyback plan is scheduled to end Nov. 25. HLTH canceled a $2.31 billion merger with WebMD on Oct. 20. WebMD said taking on HLTH's $650 million in debt would have been dangerous due to the crisis in the credit markets. HLTH owns an 84 percent stake in WebMD.
DigitalFX International, Inc. (Amex: DXN), a multi-tier Web 2.0 digital media products distribution company announced that on October 23, it submitted a plan, as required, to The American Stock Exchange (``AMEX'') advising AMEX of action the Company will take to regain compliance with the AMEX's continued listing standards. The Plan sets forth quarterly milestones and a road map of how the Company intends to regain compliance with the continued listing rules, but most importantly, how the Company's new management will steer the Company towards financial stability for our business, our employees, our loyal distributor base and our shareholders.
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