in 1995, Emerson Radio entered the home theater and car audio fields, and the $900-million-a-year home and personal security market with a carbon monoxide detector. The company planned to eventually lend its name to burglar alarms, motion detectors, personal alarms, smoke detectors, and safety lights; however, the company left this field in fiscal 1997. Additionally, Emerson announced it would license the Emerson name to more than 250 audio and video accessories made by Jasco Products Co., an Oklahoma firm selling cables, remote controls, and appliance cleaning devices. The company took a 27 percent stake in Sport Supply Group, Inc., the largest direct-mail distributor of sporting goods equipment and supplies to the U.S. institutional market, for $11.5 million in late 1996. Subsequent to a net income of $7.4 million in fiscal 1995, Emerson dropped into the red again the following three years. They lost $13.4 million, $24 million, and $1.4 million in fiscal 1996, 1997, and 1998, respectively, with net revenues of $245.7 million, $178.7 million, and $162.7 million. Emerson Radio Corp. announced in November 1998 that it had entered into an exclusive agreement with Team Products International, Inc. of Boonton, N.J., a distributor of audio, video and other consumer electronic product accessories in the United States and Canada. They promoted the sale of a wide variety of Emerson branded consumer electronic products and accessories. The owner of Fidenas's, Geoffrey P. Jurick, had assumed the position of Chief Executive Officer (CEO) of the company in 1992 and in 1998 he added the titles of President and Chairman of the Board. In December 1998 he held 60 percent of Emerson's common stock. Kenneth S. Grossman, a private investor, along with Oaktree Capital Management, a Los Angeles-based investment firm that held a smaller stake in Emerson Radio, proposed to buy Jurick's holdings in the company for more than $14.6 million. The offer was rejected as "inadequate." Emerson announced in August 1999 that it planned to sell to Oaktree for $28.9 million. On the day the licensing agreement with Otake expired, Emerson replaced the company with Daewoo Electronics Co. Ltd., which entered into a four-year agreement with Emerson to manufacture and sell television and video products bearing the Emerson and G Clef trademark to U.S. retailers. In 1999, Emerson also signed five-year license and supply agreements with Cargil International covering the Caribbean and Central and South American markets, along with WW Mexicana for certain