Artfest International Signs Letter of Intent With CBS to Operate Online College Sports Memorabilia Auctions
DALLAS, TX--(Marketwire - July 14, 2009) - Artfest International, Inc. (OTCBB: ARTI) is pleased to announce that the Company's wholly owned subsidiary Charity Sports Distributor, Inc. (CSD) has signed a letter of intent with CBS College Sports to provide custom framed alumni player autographed memorabilia for the online auctions at CBS college partner teams including Auburn, Iowa, Florida State, South Carolina, TCU, and UCLA. CSD's memorabilia is college licensed and comes with a certificate of authenticity and is offered for sale through bi-weekly online auctions featured on both CBS College Sports Network online auction home page and through the applicable athletic department's home page.
The CBS College Sports Network is the original 24-hour cable network dedicated to college sports. CBS College Sports has thousands of hours of live programming highlighted by the Mountain West Conference, Conference USA andamp; Navy. In all, the network covers over 25 men's and women's sports with more than 300 live games each and every season. Their football schedule features nationally-ranked teams such as Utah, BYU, TCU, and more on Thursday and Saturday nights in the fall. The basketball line-up showcases Memphis, Xavier, Rutgers women's hoops and many more high profile schools. In spring, CBS College Sports Network offers the most complete coverage of The NCAA Division I Men's Basketball Tournament. CBS College Sports is the cable home of NCAA® March Madness® with over 100 hours of in-game highlights, live look-ins, expert analysis, and more exclusive coverage not available on other sports networks. CBS College Sports Network has over 30 million subscribers and is available in 80 million homes in markets on cable and satellite systems across the country.
"CSD's collection of unique autographed memorabilia and premium quality custom framing provides a new value added capability to CBS's 200+ college partner schools. We are confident that our college online auction relationship will both increase our sales revenues and expand our product branding while also providing fans a creative way to support their alma mater," stated Edward Vakser, CEO of Artfest International, Inc.
Artfest International, Inc. recently announced that the Company's wholly owned subsidiary Charity Sports Distributor, Inc. signed an agreement with Legends Hospitality Management to manage in-game silent auctions at all Dallas Cowboys home football games and other select events at the new Cowboys Stadium in Arlington, TX. The auction displays will be featured before and during the game or event in strategic plaza, club, and suite areas, and will offer premium quality framed Dallas Cowboys and other celebrities' autographed memorabilia. The Company believes that this agreement has the potential to increase annual revenue by approximately $1 million.
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