News
Vans, Inc. Acquires Control Of The Vans Warped Tour For $4.1 Million
Vans, Inc. (NASDAQ: VANS – news) today announced that it has executed agreements to acquire 70% of the VANS Warped Tour(TM) in a two-step transaction with LAUNCH Media, Inc. and the original founders of the Tour. The transaction is subject to certain conditions prior to closing. Under the terms of the new agreement, LAUNCH will operate the Tour this year and will retain the exclusive rights to sell sponsorship for the 2002 and 2003 Tours. The Company stated that it expects the acquisition to be accretive to earnings upon gaining control of the Tour in the summer of 2002.* Gary… Read more »