Landmark Communications Announces Completion of Going-Private Transaction of CoolSavings

Landmark Communications Announces Completion of Going-Private Transaction of CoolSavings

NORFOLK, Va., Dec. 15 /PRNewswire/ -- Landmark Communications, Inc. ("Landmark") today announced the completion of the going-private transaction of CoolSavings, Inc. ("CoolSavings") (BULLETIN BOARD: CSAV) . Under the terms of the going-private transaction, each outstanding share of common stock of CoolSavings 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) was converted into the right to receive $0.80 in cash, without interest. CoolSavings has caused the registration of its common stock under the Securities Exchange Act of 1934, as amended, to be terminated, and as of the close of business today, its common stock is no longer eligible to be quoted on the OTC Bulletin Board.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050203/CGTH021LOGO )

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, http://weather.com/ and The Virginian-Pilot.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20050203/CGTH021LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Landmark Communications, Inc.

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

Web site: http://www.coolsavings.com/

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