Exhibit 99.1
NEWS RELEASE
[GLOBAL ENTERTAINMENT LOGO]
For Further Information Contact:
Richard Kozuback, President
Global Entertainment Corporation
480-994-0772
www.globalentertainment2000.com
Global Entertainment Corporation Rudy R. Miller, Chairman
1600 North Desert Drive, Suite 301 The Miller Group
Tempe, Arizona 85281 Investor Relations for the Company
602-225-0505
gee@themillergroup.net
www.themillergroup.net
FOR IMMEDIATE RELEASE
GLOBAL ENTERTAINMENT ANNOUNCES REORGANIZATION
OF EXECUTIVE MANAGEMENT TEAM
TEMPE, ARIZONA, APRIL 22, 2011 -- GLOBAL ENTERTAINMENT CORPORATION (OTCBB: GNTP)
- an integrated event and entertainment company, today announced several
decisions by its Board of Directors related to a reorganization of the company's
executive management team.
In an effort to focus management's responsibilities more effectively, the Board
of Directors of Global Entertainment appointed Steven E. Lee as Chief Operating
Officer. He previously served as the company's Executive Vice President and
Chief Administrative Officer. Mr. Lee will now be responsible for all day-to-day
operations of the company as well as continuing to oversee human resources,
information technology, legal, contract administration and related areas. He
will continue to focus on creating operational and cost efficiencies for Global
Entertainment.
Mr. Lee stated, "Although the company has experienced a number of challenges
recently, I look forward to continuing to roll up my sleeves in an effort to
meet these challenges head on."
Richard Kozuback, President and Chief Executive Officer affirmed, "I look
forward to continuing to work with Steve in the best interest of our
shareholders." Mr. Kozuback elaborated, "Steve's assumption of this new position
will allow me to focus my time and effort on new prospects for the company such
as multi-event centers and other revenue drivers. I will be able to devote more
personal attention to working on strategic opportunities and continuing to guide
our successful Central Hockey League operations while Steve concentrates on
operational responsibilities."
In addition, Charles Mathews has resigned as Chief Financial Officer of the
company effective today. Mr. Mathews stated, "My decision to leave the company
to pursue other opportunities is a personal and difficult one." The company will
operate with its controller working under the guidance of Mr. Lee for the near
future.
On behalf of Global Entertainment's Board of Directors, W. James Treliving,
Chairman of the Board, stated, "The Board is pleased to institute the position
of Chief Operating Officer. Steve has performed admirably thus far in executing
tasks while navigating through the company's operational difficulties and we are
confident in his ability to assume full operational responsibility going forward
while Mr. Kozuback concentrates on driving new business." Mr. Treliving
continued, "These have certainly been challenging times for the company and the
Board is focused on making the necessary hard decisions on behalf of all of the
company's shareholders. We maintain belief in the long-term potential of Global
Entertainment, anchored by our successful Central Hockey League operations, and
will continue to dedicate our energy towards helping the company realize a
successful future."
more...
Global Entertainment Announces Reorganization of Executive Management Team
April 22, 2011
Page 2
Visit our web sites:
www.globalentertainment2000.com www.centralhockeyleague.com
www.coliseums.com www.GetTix.net
Global Entertainment Corporation is an integrated events and entertainment
company focused on mid-size communities that is engaged, through its seven
wholly owned subsidiaries, in sports management, multi-purpose events and
entertainment centers and related real estate development, facility and venue
management and marketing and venue ticketing. GLOBAL PROPERTIES I, in
correlation with arena development projects, works to maximize value and develop
potential new properties. INTERNATIONAL COLISEUMS COMPANY, INC. (ICC) serves as
project manager for arena development while ENCORE FACILITY MANAGEMENT AND GEC
FOOD SERVICE, LLC coordinate arena operations and concessions. GLOBAL
ENTERTAINMENT MARKETING SYSTEMS (GEMS) pursues licensing and marketing
opportunities related to the Company's sports management and arena developments
and operations. GLOBAL ENTERTAINMENT TICKETING (GETTIX.NET) is a ticketing
company for sports and entertainment venues. The WESTERN PROFESSIONAL HOCKEY
LEAGUE, INC., through a joint operating agreement with the Central Hockey
League, is the operator and franchisor of professional minor league hockey teams
in nine states.
Certain statements in this release may be "forward-looking statements"
within the meaning of The Private Securities Litigation Reform Act of 1995.
These forward-looking statements may include projections of matters that
affect revenue, operating expenses or net earnings; projections of capital
expenditures; projections of growth; hiring plans; plans for future
operations; financing needs or plans; plans relating to the company's
products and services; and assumptions relating to the foregoing.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified. Future
events and actual results could differ materially from those set forth in,
contemplated by, or underlying the forward-looking information.
Some of the important factors that could cause the company's actual results
to differ materially from those projected in forward-looking statements
made by the company include, but are not limited to, the following: limited
liquidity and the need for additional financing intense competition within
the sports and entertainment industries, past and future acquisitions,
expanding operations into new markets, risk of business interruption,
changing consumer demands, dependence on key personnel, sales and income
tax uncertainty and increasing marketing, management, occupancy and other
administrative costs.
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