Landmark Communications Mails Going-Private Transaction Statement to CoolSavings Stockholders in Connection With Going-Private Transaction

Landmark Communications Mails Going-Private Transaction Statement to CoolSavings Stockholders in Connection With Going-Private Transaction

NORFOLK, Va., Nov. 23 /PRNewswire/ -- Landmark Communications, Inc. ("Landmark") today announced the mailing of the Going-Private Transaction Statement to each stockholder of CoolSavings, Inc. ("CoolSavings") (BULLETIN BOARD: CSAV) in connection with the previously announced going- private transaction. Under the terms of the going-private transaction, each outstanding share of common stock and each outstanding share of Series C convertible preferred stock of CoolSavings (other than those shares held by Landmark and its affiliates and any shares owned by stockholders who properly exercise their statutory appraisal rights under the Delaware law) will be converted into the right to receive $0.80 in cash, without interest. Landmark expects that the going-private transaction will be completed on December 15, 2005 or as soon thereafter as possible.

ABOUT LANDMARK

Landmark is a privately-held media company with national and international interests in newspapers, broadcasting, cable programming and electronic publishing, including The Weather Channel, weather.com and The Virginian- Pilot.

Source: Landmark Communications, Inc.

CONTACT: Guy R. Friddell, III of Landmark Communications, Inc.,
+1-757-446-2660, rfriddell@lcimedia.com

-------
Profile: intent