NYC-BASED TELEVISION STUDIO AND TURNKEY BROADCASTING ASSETS TO BE AUCTIONED BY HERITAGE GLOBAL PARTNERS MAY 2

By April 12, 2012Press Releases

NYC-BASED TELEVISION STUDIO AND TURNKEY BROADCASTING ASSETS TO BE AUCTIONED BY HERITAGE GLOBAL PARTNERS MAY 2

VIA GLOBAL ONLINE AUCTION

San Diego, CA – April 12, 2012 Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a wholly owned subsidiary of Counsel RB Capital (OTCQB: CRBN), today announced that it is conducting an upcoming worldwide online auction featuring a complete New York City-based TV broadcasting studio and its entire infrastructure, including pre- and post-production equipment previously owned by RAI Corporation, a leading US-based Italian language television and radio broadcaster.

The sale begins Wednesday, May 2, 2012 at 10 am PT and ends May 3 at 10 am PT, via a global online auction accessible at www.hgpauction.com.  There is a one-day preview May 1 from 9 am – 4 pm ET, or by appointment.

The TV studio auction is intended to be one aggregate bulk sale (subject to seller’s approval) of the entire RAI facility and its contents, including pre- and post-production broadcasting equipment, IT, corporate furnishings and much more.  The successful purchaser will be required to remove all assets from the facility in a timely manner.  In the event that no turnkey bid is accepted, all assets will be auctioned online simultaneously as a piecemeal sale (lot by lot) for removal.

“We are anticipating very strong demand from online bidders for these state-of-the-industry television broadcasting assets and expect that we will sell the entire turnkey facility to a single purchaser.  If that does not happen, we will immediately switch to an item-by-item auction.  In either case, there is a ‘short fuse’ on this sale,” stated Heritage Global Partners Vice President George Wandachowicz.

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the country’s leading asset advisory and auction services firms, assisting large and small companies with buying and selling assets.  A Counsel RB Capital company (OTCQB: CRBN), HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, as well as enterprise auctions combining tangible and intangible assets.

To obtain more information including scheduling an on-site preview, please visit www.hgpauction.com or contact George Wandachowicz at [email protected].

Contact:

George Wandachowicz, [email protected], 858/847-0656

Robert Rinderman or Jennifer Neuman, Jaffoni & Collins, [email protected], 212/835-8500

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