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EXHIBIT 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
INVESTOR CONTACTS MEDIA/ENTERTAINMENT CONTACT
Brad Krassner Michael Rosenberg
Chief Executive Officer (760) 776-5500
(305) 532-1566 (760) 776-5575 (fax)
(305) 532-4014 (fax)
Frank N. Hawkins, Jr.
(305) 852-2383
(305) 852-2378 (fax)
info@hawkassociates.com (E-mail)
http://www.hawkassociates.com
MAGICWORKS ENTERTAINMENT ACQUIRES MARCO ENTERTAINMENT, WORLD'S
PREMIER FIGURE SKATING FIRM
MIAMI BEACH, Fla., June 8, 1998 --- Magicworks Entertainment
Incorporated (Amex: MJK) today announced that it has acquired the largest
independent figure skating management firm in the world, MARCO Entertainment,
Inc. of Palm Desert, California. The purchase price was not disclosed. In
addition, Michael Rosenberg, MARCO president and CEO, joins Magicworks as head
of its winter sports division.
Rosenberg is the senior manager/agent in the ice skating world, having
begun his career representing Dorothy Hamill eighteen years ago. He has managed
the skating careers of over 20 Olympic or World gold medalists including Hamill,
Oksana Baiul, Linda Fratianne, Viktor Petrenko and Pasha Grishuk/Evgeny Platov.
The firm currently represents 53 champion skaters from eight different
countries. MARCO reported pre-tax client earnings of over $5 million in 1997 and
commissions and/or tour profits in excess of $1 million. The company produces
the annual Elvis Stojko tour in Canada, as well as several made-for-television
skating events. Present headline stars include U.S. champion Rudy Galindo,
French Olympic medalists Marina Anissina and Gwendal Peizerat, U.S. legends Tai
Babilonia and Randy Gardner, French sensation Surya Bonaly, five-time U.S.
champions Elizabeth Punsalan and Jerod Swallow and Canadian sweetheart Elizabeth
Manley.
Rosenberg, 55, has garnered several TV award nominations in both the
U.S. and Canada for the production of skating specials, including the Tai
Babilonia movie-of-the-week, "The World Cup of Figure Skating" and Elizabeth
Manley variety specials in Canada.
MARCO celebrated its 20th anniversary in 1997 and has represented
during that tenure such diverse stars as singers Peggy Lee and Johnny Rivers,
Hall of Fame football coach George Allen and PGA golfer Wayne Levi. Rosenberg
also produced the Budweiser Superfest concert series staring Stevie Wonder,
Aretha Franklin and Smokey Robinson.
Formerly the head of marketing of Ringling Bros. and Barnum & Bailey
Circus and the Bicentennial American Freedom Train Foundation, Rosenberg is a
highly decorated veteran of the Vietnam War, where he served in the Air Force
during the period 1968-69.
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"This is the opportunity of a lifetime to combine resources with a
spectacular young company like Magicworks Entertainment," Rosenberg said. "Their
expertise in the production of live entertainment events such as Broadway
theatricals, concert tours, family shows, ice skating shows and other live
entertainment and sports events will provide our skating champions with
unlimited and exciting opportunities."
Brad Krassner, Co-Chairman and CEO of Magicworks Entertainment said,
"Consistent with our strategic plan, the addition of Michael Rosenberg and the
MARCO organization is the first of several anticipated acquisitions that will
allow us to leverage our expertise in promoting and producing live entertainment
into the world of sports. Michael is one of the most creative and accomplished
agents in sports today. His relationships in the world of figure skating and his
understanding and knowledge of the business will be extremely valuable in
helping us to further build our company."
Lee Marshall, President and COO of Magicworks Entertainment added,
"Michael Rosenberg is one of the most respected individuals in the figure
skating community. The synergies that exist between his relationships and our
core business of producing will lead to many wonderful opportunities to create
new and exciting figure skating events for both touring and television. We are
very excited to have Michael as a member of the Magicworks term."
Magicworks Entertainment Incorporated is a vertically integrated live
entertainment production, promotion and talent management company. Magicworks
specializes in the production and promotion of live entertainment events such as
theatrical shows, musical concerts, ice skating shows and other forms of live
entertainment. The company also books various performers and shows and
merchandises a broad range of products associated with its own productions and
performers as well as other third party projects. A sampling of Magicworks'
current production and promotions roster includes "David Cooperfield's `Dreams
and Nightmares'," "Riverdance," "Evita," "The Gin Game" staring Julie Harris and
Charles Durning, "Cabaret," "Victor, Victoria" staring Toni Tenille, the
European tour of "Lord of the Dance" and the upcoming Janet Jackson "Velvet Rope
Tour." Magicworks is also a co-producer of the hit musical "Jekyll & Hyde,"
which has garnered four Tony Award nominations, three Drama Desk nominations and
six Outer Critics Circle Award nominations including Best Musical. Magicworks'
past production roster includes such hits as "Jesus Christ Superstar," "Hello
Dolly!" starring Carol Channing, "Ain't Misbehavin" staring the Pointer Sisters,
the 1997 reunion tour of Fleetwood Mac and "Nutcracker on Ice."
Magicworks is headquartered in Miami Beach, Florida and Cleveland,
Ohio, with offices in New York City, Salt Lake City, Dallas, Atlanta and Hong
Kong.
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other valuable information for investors may be found on the website
http://www.hawkassociates.com.