SOURCE: Madison Ave Media, Inc.
October 13, 2010 14:45 ET
Madison Ave. Media, Inc. Acquires One of the Nation's Largest and Most Comprehensive SMS Mobile Databases
Acquisition Assures the Company the Leadership Role in the Rapidly Expanding Digital Advertising Space
BOCA RATON, FL--(Marketwire - October 13, 2010) - Madison Ave. Media, Inc. (OTCBB: KHZM) today announced the acquisition of unique and proprietary assets of Financial Network Media, LLC. These assets include SMS/MMS mobile data, proprietary software, any and all source codes and compliance supporting authenticity. Combined with the already robust data assets of Madison Ave. Media, Inc., this acquisition will create one of the nation's most effective SMS/MMS Mobile Databases.
"Mobile advertising revenues are poised for explosive growth," Madison Ave. Media Chairman Stephen Molinari said, "with Mobile ad revenues in the U.S. expected to increase from $213 million in 2009 to $2.02 billion in 2014."
"Our advertisers are being drawn to mobile marketing as the overall market shifts to digital ad platforms," Molinari said in a statement. "This acquisition assures Madison Ave. Media a leadership role in the overall digital advertising marketplace."
The CTIA (the International Association for the Wireless Telecommunications Industry) estimates that there are over 292.8 million wireless subscribers currently in the U.S. Madison Ave. Media believes that as that number grows, so will the reach of text messaging for direct marketing.
In related news, Molinari also announced that Group Molinari -- the largest shareholder of Madison Ave. Media -- will be converting their common stock in Madison Ave. Media to preferred shares. The Company hopes this conversion will display Group Molinari's long term commitment to its investment in Madison Ave. Media, Inc. The long-term planning, growth, execution and increase in shareholder value of the company now runs parallel with the stock position in the marketplace. "This move solidifies my personal commitment to the long-term growth and future of Madison Ave. Media, creates accountability and ensures the stability and dedication of the management team," concluded Molinari.
Currently, Madison Ave. Media has 83,660,002 shares issued and outstanding, which includes the shares issued for this acquisition. Group Molinari will be converting its existing 49,000,000 shares from common stock to preferred stock and therefore canceling 49,000,000 common shares. This will leave 34,660,002 common shares issued and outstanding. Group Molinari LLC will remain the controlling shareholder of the Company following the conversion.
About Madison Ave. Media
Madison Ave. Media is an advanced digital media company that offers a differentiated and competitive array of marketing technologies and services to clients in multiple industries. Their technology and services bring advanced, highly productive marketing, communications and advertising solutions to clients. And their services address the complete digital media value chain, combining the best practices of traditional media support with the power of technology.
For more information about Madison Ave. Media, Inc., please contact Frank Bradley at firstname.lastname@example.org or call 423-827-2031. www.madisonavemedia.com.
For media inquiries, or to set up an interview with Stephen Molinari, please contact Ned Barnett at email@example.com or 702-696-1200.
(This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. KHZM has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the KHZM's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the KHZM's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. KHZM undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.)