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BUSINESS
April 27, 1999 | From Dow Jones News Service
Santa Ana-based Scoop Inc. signed a merger agreement with InfinCom AB and 24Store.com Ltd. that will result in 24Store.com owning 91.7% of the outstanding shares of Scoop, the companies said Monday. Financial terms weren't disclosed. Scoop said Monday it will change its name to 24Store.com. 24Store.com said it is in the process of finishing an institutional private placement of as much as $20 million, and upon completion it intends to file for Nasdaq national market listing.
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BUSINESS
April 7, 2000
Scoop Inc., recently sold to 24Store.com Ltd. in England, said Thursday that a new board of directors has been elected as part of its bankruptcy reorganization plan. The Santa Ana media reprint designer said in a press release that its new chairman is Larsake Sandin, a founder of InfiniCom AB in Sweden, which owns a majority interest in 24Store.com. He replaces Rand Bleimeister, formally the sole director and chief executive who resigned in January.
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BUSINESS
August 13, 1997
The Santa Ana company, which is developing an Internet-based business information service, reported a second-quarter loss of $1.08 million, or 19 cents a share, compared with a year-earlier loss of $478,200, or 14 cents a share. Revenue for the period rose 43.7% to $485,700 from $337,900.
BUSINESS
October 2, 1999 | (Jonathan Gaw)
Santa Ana-based Scoop Inc., which designs media reprints and framed layouts of articles from newspapers, magazines and online publications, said Friday that a federal bankruptcy court has approved the company's reorganization plan. Scoop has said it expects its general unsecured creditors will be able to recover 90% of their estimated allowed claims. Under the plan, Swedish-based holding company InfiniCom AB will acquire a 91.7% stake in Scoop in exchange for cash and stock of 24Store.com Ltd.
BUSINESS
October 2, 1999 | (Jonathan Gaw)
Santa Ana-based Scoop Inc., which designs media reprints and framed layouts of articles from newspapers, magazines and online publications, said Friday that a federal bankruptcy court has approved the company's reorganization plan. Scoop has said it expects its general unsecured creditors will be able to recover 90% of their estimated allowed claims. Under the plan, Swedish-based holding company InfiniCom AB will acquire a 91.7% stake in Scoop in exchange for cash and stock of 24Store.com Ltd.
BUSINESS
June 26, 1998 | From Dow Jones
Scoop Inc. said Thursday that it has been delisted from the Nasdaq SmallCap market, a move that could unravel its proposed acquisition of an Israeli company. The Santa Ana Internet news service said the exchange denied its request for a temporary exemption from certain listing requirements, a move it sought to complete its purchase of Multimedia KID-Intelligence in Education. Scoop said it may appeal the decision.
BUSINESS
February 13, 1998 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
Citing financial troubles, Internet-based news service Scoop Inc. laid off more than half of its staff Thursday and plans to sell its core online products, according to sources at the company. About 24 of the firm's 40 employees were fired, sources said. The company's president and chief financial officer, Mark Davidson, resigned on Thursday, as did three members of its board of directors--K.C. Craichy, Nils Andersson and John Kensey.
BUSINESS
November 13, 1998 | Jonathan Gaw
Irvine-based Scoop Inc. has completed its previously announced deal to sell its fee-based online news service for $300,000 in cash to Solutions Corp. of America in Nashville, the company said Thursday. The sale of Scoop's last major asset is part of the company's bankruptcy reorganization. The company's stock closed Thursday at 17 cents, down 5 cents a share.
BUSINESS
July 15, 1998 | Dow Jones
Scoop Inc. said Multimedia KID-Intelligence in Education Ltd. terminated its agreement to be acquired by Scoop because the Irvine company has been delisted from the Nasdaq SmallCap Market. Scoop said the collapse of the deal puts its future "in substantial doubt." The Internet-based news service said its board is considering several alternative plans, but it is "highly unlikely" that it will be able to continue as a going concern if it doesn't complete an alternative transaction soon.
BUSINESS
June 12, 1999 | Greg Hernandez
Creditors of Santa Ana-based Scoop Inc. could recover 95% of what they are owed under a reorganization plan filed this week in federal Bankruptcy Court in Santa Ana. The payout to unsecured creditors will depend on the outcome of disputed claims from other creditors, the company's attorney said Friday. The plan also details a merger agreement with InfinCom AB and 24Store.com Ltd. that will result in 24Store.com owning 91.7% of the outstanding shares of Scoop.
BUSINESS
April 27, 1999 | From Dow Jones News Service
Santa Ana-based Scoop Inc. signed a merger agreement with InfinCom AB and 24Store.com Ltd. that will result in 24Store.com owning 91.7% of the outstanding shares of Scoop, the companies said Monday. Financial terms weren't disclosed. Scoop said Monday it will change its name to 24Store.com. 24Store.com said it is in the process of finishing an institutional private placement of as much as $20 million, and upon completion it intends to file for Nasdaq national market listing.
BUSINESS
November 13, 1998 | Jonathan Gaw
Irvine-based Scoop Inc. has completed its previously announced deal to sell its fee-based online news service for $300,000 in cash to Solutions Corp. of America in Nashville, the company said Thursday. The sale of Scoop's last major asset is part of the company's bankruptcy reorganization. The company's stock closed Thursday at 17 cents, down 5 cents a share.
BUSINESS
August 1, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Money-losing Scoop Inc. filed for bankruptcy protection Friday as part of a plan to sell the bulk of the Santa Ana-based Internet news service's operations over the objections of some investors. The filing shows that Scoop has about $950,000 in assets and $1.4 million in liabilities. The company, which raised about $6 million in its public stock offering in April 1997, posted a second-quarter loss of $643,000 just two months later.
BUSINESS
July 15, 1998 | Dow Jones
Scoop Inc. said Multimedia KID-Intelligence in Education Ltd. terminated its agreement to be acquired by Scoop because the Irvine company has been delisted from the Nasdaq SmallCap Market. Scoop said the collapse of the deal puts its future "in substantial doubt." The Internet-based news service said its board is considering several alternative plans, but it is "highly unlikely" that it will be able to continue as a going concern if it doesn't complete an alternative transaction soon.
BUSINESS
June 26, 1998 | From Dow Jones
Scoop Inc. said Thursday that it has been delisted from the Nasdaq SmallCap market, a move that could unravel its proposed acquisition of an Israeli company. The Santa Ana Internet news service said the exchange denied its request for a temporary exemption from certain listing requirements, a move it sought to complete its purchase of Multimedia KID-Intelligence in Education. Scoop said it may appeal the decision.
BUSINESS
October 23, 1997 | P.J. Huffstutter
Scoop Inc. will add its e-mail clipping service to Netscape Communications Corp.'s online collection of news outlets on World Wide Web. The Orange County company will be distributing its personalized e-mail news service, Scoop Direct, which allows users to create a list of subject matter that interests them. Then each morning, the software browses through 3,700 different publications, and e-mails the user a collection of headlines and story summaries.
BUSINESS
March 8, 1998
Scoop Inc., which designs and markets customized media reprints and framed layouts of articles from newspapers, magazines and online publications, reported a fourth-quarter net loss of $1.7 million, or 31 cents a share, compared with a net loss of $746,200, or 20 cents a share, for the corresponding period in 1996. Sales rose 31% to $545,800 from $417,500. For the year, the net loss was $5 million, or $1.01 a share, compared with a net loss of $2.2 million, or 64 cents a share, for 1996.
BUSINESS
May 10, 1998
Scoop Inc., a Santa Ana marketer of media reprints, reported a net loss of $1.1 million, or 21 cents a share, for the first quarter, compared with a year-earlier net loss of $567,700, or 20 cents a share. Sales gained 12% to $532,700 from $476,300. The company also said Friday that it had agreed to sell its Scoop Media Services division to the Call Co. in Laguna Hills for $1.3 million and the assumption of up to $150,000 in liabilities.
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