MSGI Completes $30 Million Stock Sale
Diversified direct marketing concern Marketing Services Group Inc.,New York, said Friday that it completed a $30 million private
placement of its Series E convertible preferred stock. The company
said the shares were purchased by Credit Suisse First Boston affiliate
Marshall Capital Management by funds managed by Rose Glen Capital
Management. The proceeds from the stock sale will be used for general
working capital and minority Internet investments. MSGI, which
describes itself as an Internet incubator, owns several direct
marketing and Internet businesses, including WiredEmpire.
