Date

Search News

Archive Crawler
India Asia Middle East Australasia Europe N.America S.America Africa
Home
PR Newswire
Business Wire India
RealWire
Finance
Personnel
Hardware
Software
Gaming
Internet
Telecom
General
Features
Globe Newswire
BizWire Express
Tech
-n-
Trivia


Google Custom Search
Click here for Free Industry Resources!
Remark Media Completes Acquisition of Banks.com Inc.
GlobeNewswire
2012-06-28

     Deal Marks Significant Step in Remark Media's Strategy to
    Build a Comprehensive Personal Finance Online Portfolio and
                          User Community

NEW YORK, NY and ATLANTA, GA, June 28, 2012 (GLOBE NEWSWIRE) -- Remark
Media, Inc. (Nasdaq: MARK), a global digital media company, today
announced that it has completed its acquisition of Banks.com, Inc.
(OTCQB: BNNX), a financial media company that owns and operates
Banks.com, IRS.com, FileLater.com and MyStockFund.com.

With this acquisition, Remark Media will expand its online personal
finance ecosystem that will serve as the go-to destination for users
seeking actionable financial advice. The hub of this ecosystem is
DimeSpring.com--currently in beta--which offers original content and an
interactive platform for consumers to share experiences and interact
with the world's leading financial experts.

"Currently there are no dynamic online personal finance communities
that offer easy access to expert advice, actionable content and shared
user experiences," said Carrie Ferman, CEO of Remark Media. "We plan to
provide an entertaining and engaging one-stop-shop for extensive
personal financial information. With the acquisition of Banks.com, we
gain established brands from which to create a rich portfolio of sites
that aim to simplify financial matters and help people make better
informed decisions."

Currently, Banks.com, Inc.'s web properties provide users with
finance-related content and services. The advertising-supported
website, Banks.com offers access to financial news, interest-rate
tables and financial calculators. Banks.com, Inc.'s other properties
offer access to related financial services, including: online tax
information and preparation assistance through IRS.com; online tax
extensions through FileLater.com; and online brokerage services through
MyStockFund.com.

Remark Media will redesign and integrate Banks.com, IRS.com and the
other newly acquired sites with DimeSpring.com, providing a
comprehensive suite of financial content, conversation and services for
users. Plans include: shifting the Banks.com websites onto Remark
Media's digital media platform; dramatically enhancing the content
offerings and user experience; and adding new social features and
interactive elements. The redesigned Banks.com sites, scheduled to
launch in the fall, will offer new features including content
recommendations and social tools, and newsletters that are personalized
to individuals' particular needs. Additionally, they will incorporate
responsive design that allows content to be optimized on all devices.

"We see tremendous opportunity in combining forces with Remark Media,"
said Dan O'Donnell, President and CEO of Banks.com. "It has a proven
track record of taking great brands and applying top-notch technologies
and know-how to create a more positive user experience and increased
engagement."

O'Donnell and other members of Banks.com's leadership team will join
Remark Media, bringing their years of experience in personal finance to
help cultivate relationships and lend industry knowledge.

Shareholders of Banks.com will become shareholders of Remark Media, and
Banks.com stock will cease to trade prior to the opening of trading on
June 29, 2012.

About Remark Media

Remark Media, Inc. (Nasdaq: MARK) is a global digital media company
focused on creating destinations that merge engaging content with rich
social interaction. Remark Media is the exclusive digital publisher in
China and Brazil for translated content from HowStuffWorks.com, a
subsidiary of Discovery Communications, and in China for certain
content from World Book. The Company's leading brands, BoWenWang
(bowenwang.com.cn) and ComoTudoFunciona (hsw.com.br), provide readers
in China and Brazil with thousands of articles about how the world
around them works, serving as destinations for credible,
easy-to-understand reference information. Remark Media is also a
founding partner and developer of the U.S.-based product Sharecare, a
highly searchable social Q&A healthcare platform organizing and
answering the questions of health. The Company is headquartered in
Atlanta with additional operations in New York, Beijing and Sao Paulo.
Additional information is available on its corporate website at
remarkmedia.com.

Forward-Looking Statements:

This press release contains "forward-looking statements", as defined in
Section 27A of the Securities Act of 1993, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Forward-looking
statements may be in the future tense, and often include words such as
"anticipate", "expect", "project", "believe", "plan", "estimate",
"intend", "will" and "may". These statements are based on current
expectations, but are subject to certain risks and uncertainties, many
of which are difficult to predict and are beyond the control of Remark
Media. Relevant risks and uncertainties include those referenced in
Remark Media's filings with the SEC, and include but are not limited
to: our losses and need to raise capital; successfully developing and
launching new digital media properties; successfully integrating
Banks.com's business and digital media properties and executing upon
redesigning its sites; challenges in attracting users to and selling
advertising for websites; restrictions on intellectual property under
agreements with Sharecare and third parties; challenges inherent in
developing an online business; reliance on key personnel; general
industry conditions and competition; and general economic conditions,
such as advertising rate, interest rate and currency exchange rate
fluctuations. These risks and uncertainties could cause actual results
to differ materially from those expressed in or implied by the
forward-looking statements, and therefore should be carefully
considered. Remark Media assumes no obligation to update any
forward-looking statements as a result of new information or future
events or developments, except as required by law.




                                  ###





CONTACT: Press Contact:	
         Joanna Roses		
         rosesjoanna@gmail.com
         917-570-4450		
         
         Investor Relations Contact:
         Travis Page 
         ir@remarkmedia.com
         212-905-8947