SOURCE: Indie Ranch Media, Inc.

Indie Ranch Media, Inc.

June 08, 2009 16:33 ET

Indie Ranch Media Hires Fusion Business Group Inc. to Negotiate $0.004 - $0.007 per Share Value for Shareholders in Acquisition Transaction

MALIBU, CA--(Marketwire - June 8, 2009) - Indie Ranch Media, Inc. (PINKSHEETS: INDR) today confirms that it has hired Fusion Business Group Inc. ("FBG"), a Pacific Rim advisory firm engaged in the business of corporate development as it relates to financial and business transactions including the sourcing of Chinese investors.

The Board of Directors has confirmed with FBG that only offers which include a $0.004 - $0.007 per share range for terms with respect to a potential acquisition or merger will be considered.

Sparrow Marcioni comments: "I believe our demand for a price above the current market price is not unreasonable, particularly when you consider the following":

In an article in the July 17, 2007 issue of PC magazine ("The Future of Internet Radio") John Dvorak cites Internet radio's inherent advantages: its reach is unlimited; its on-demand qualities enabling listeners to listen to what they want, when they want; and its low cost. Wrote Dvorak, "The expense of streaming over the Internet is a fraction of what transmitter-based broadcasting costs. There is no big antenna, no transmitters, no special studios."

and

An article from BBC News regarding last year's CBS purchase of Last.fm for $280 million (http://news.bbc.co.uk/2/hi/technology/6701863.stm).

The Company looks forward to moving its negotiations forward with the assistance of FBG and will update shareholders as developments progress.

INDIE RANCH MEDIA, INC.

Indie Ranch Media is an incubator dedicated to developing, supporting and launching Internet-based media ventures and technologies. The Company's focus is on combining strategy, ideas, and execution with the culture of entrepreneurial spirit to develop new media products faster, cheaper, and better. The Company is supporting the development of NetMix Broadcasting Network Inc. (www.netmix.fm) and Omni Entertainment Group Inc. (www.omniegi.com)

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the sufficiency of existing capital resources, technological changes and uncertainties related to the development of Indie Ranch Media, Inc.'s business model. The actual results Indie Ranch Media, Inc. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.

Contact Information

  • For further information please contact:

    Shareholder Communications
    Sharon DiMagio
    Telephone: 888-280-8978
    www.indranch.com