Business: Travelzoo Inc. is a global Internet media company. The Company informs approximately 24 million subscribers in North America, Europe and Asia Pacific, as well as millions of Website users, about the travel, entertainment and local deals available from thousands of companies. The Company sources, researches and test-book offers professionally. The Company provides travel companies, entertainment companies, and local businesses with a way to reach the consumers. The Company’s revenues are generated primarily from advertising fees. The Company operates in two geographical segments: North America and Europe. North America consists of the Companies operations in Canada and the United States. Europe consists of the Company’s operations in France, Germany, Spain, and the United Kingdom. The Company’s advertising revenues, consist of listing fees paid by travel companies, entertainment companies and local businesses to advertise their offers on Travelzoo’s media properties.