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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
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