ZoomerMedia Limited

ZoomerMedia Limited

March 22, 2011 13:34 ET

CORRECTION FROM SOURCE: ZoomerMedia Announces Acquisition of Remainder of One

TORONTO, ONTARIO--(Marketwire - March 22, 2011) - This amended press release has been prepared and is being filed to correct, and is intended to replace in its entirety, a press release filed by ZoomerMedia Limited earlier on March 22, 2011, which did not include the aggregate purchase price for this transaction.

ZoomerMedia Limited (TSX VENTURE:ZUM) is pleased to announce that it has acquired the remaining 52.78% of the shares of ONE: the Body, Mind and Spirit Channel Inc. that it did not already own from the other minority shareholders for aggregate cash consideration of $3,516,568. ZoomerMedia initially acquired 47.22% of ONE when it acquired Vision TV and its related businesses on June 28, 2010.

About ZoomerMedia Limited

ZoomerMedia is a multimedia company that serves the 45plus "Zoomer" demographic through television, radio, magazine, internet and trade shows. ZoomerMedia's television properties include; VisionTV, Canada's only multi-faith specialty television service; ONE: the Body, Mind & Spirit Channel, offering programs on exercise, meditation, yoga, natural health and living a planet-friendly lifestyle; Joytv 10 in Vancouver and Joytv 11 in Winnipeg, two conventional television stations, available over the air and on cable in their respective markets. ZoomerMedia's radio properties include CFMZ-FM Toronto – The New Classical 96.3FM, CFMX-FM Cobourg – The New Classical 103.1FM, Canada's only commercial classical music radio stations serving the Greater Toronto Area (GTA) and eastern Ontario, and CFZM-AM 740 Toronto – The New AM740 Zoomer Radio, the last music service left on the AM dial in the GTA. ZoomerMedia also publishes Zoomer Magazine, the largest paid circulation magazine in Canada for the 45plus market. ZoomerMedia is Canada's leading provider of online content targeting the 45plus age group through several properties, the key one being www.50plus.com. ZoomerMedia also has a trade show division that conducts annual consumer shows directed to the 45plus age group and owns ideaCity, an annual Canadian conference also known as 'Canada's Premiere Meeting of the Minds'.

Neither the 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.

Contact Information

  • ZoomerMedia Limited
    George Kempff
    Vice President and Chief Financial Officer
    (416) 607-7735
    ZoomerMedia Limited
    Leanne Wright
    Vice President Communications
    (416) 886-6873