Knightscove Media Corp.

Knightscove Media Corp.

March 04, 2010 14:56 ET

Knightscove Media Corp Executes Purchase Agreement to Acquire Youth Style ‘The Magazine’

TORONTO, ONTARIO--(Marketwire - March 4, 2010) - KNIGHTSCOVE MEDIA CORP (TSX VENTURE:KC.A)(TSX VENTURE:KC.B) (the "Company" or "Knightscove",, is pleased to announce that it has entered into an agreement to acquire The Magazine, ("The Magazine", a Canadian based youth lifestyle magazine. Launched in 2000, The Magazine is Canada's most popular youth lifestyle magazine, covering music, movies, television, social issues, the environment, health topics and just about anything that affects the lives of youths aged 8-14. Editorial is mostly contributed by young writers across Canada. The Magazine also spotlights artwork, creative writing and points of view from its readers. Parents, educators and community leaders have praised The Magazine for promoting literacy, media awareness and positive lifestyles, while remaining true to a youthful style and non-condescending editorial voice.

The purchase price for The Magazine shall be CDN$650,000. CDN$250,000 of the purchase prices shall be paid on closing of the transaction with the remaining CDN$400,000 of the purchase price to be paid over a period of twenty months thereafter. The acquisition is expected to be completed in March of 2010. 

In each previous year, The Magazine has earned approximately CDN$800,000 in annual revenue with a CDN$200,000 net profit. It is expected that these revenues will increase by utilizing the Knightscove synergies and by the release of our anticipated home catalogue. The Magazine will also act as the official magazine to family subscribers of KnightTV.

"The addition of The Magazine strengthens our unique opportunity to have the Knightscove Family of companies become a destination for families. The branding and additional opportunities to enhance revenues and shareholder value is extremely exciting." said Leif Bristow, President of Knightscove. "Bringing the energy and enthusiasm of Ed Conroy and Becky Brown to the team will assist all departments. They have demonstrated a continuing ability to appeal to our target audience and enjoy the advertising support of all the major corporations in our sector."

"We are very excited to be joining the Knightscove family" says Ed Conroy, Publisher of The Magazine. "It is a tremendous opportunity to explore multi-platform content creation and work with a talented group of professionals from all areas of kids media."

Ed Conroy and Becky Brown will continue in their roles of Publisher and VP Sales and Marketing respectively in a three year contract.

The Magazine is published 9 times a year and is available in most retail stores across Canada or online at

This transaction is subject to the approval and acceptance of the TSX Venture Exchange and compliance with all applicable security laws, all required governmental, judicial, regulatory and third-party approvals. No finder's fee was paid in connection with this transaction.

Additional information regarding the business of Knightscove may be found on or SEDAR at

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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