SOURCE: Madison Ave Media, Inc.

December 15, 2010 16:00 ET

Madison Ave. Media Agrees to Acquire Track Entertainment

Leading Entertainment Company Has Over $20 Million in Revenues

BOCA RATON, FL--(Marketwire - December 15, 2010) - Madison Ave. Media, Inc. (OTCBB: KHZM), a global leader in brand intelligence and mobile marketing, today agrees to acquire Track Entertainment a division of The Management Group, LLC. In an all stock transaction.

With over $20 million in annual revenue, Track Entertainment owns and manages a consortium of advertising, content, ticketing and event driven web properties., an advertising and content network, whose assets include 3.5 million registered users, and proprietary web properties, representing a cross section of premiere lifestyle, event directory, multicultural, and music based properties. 

"Our combined properties and their affiliate network of web syndicates reach over 5 million monthly unique visitors delivering over 300 million monthly ad impressions in the US alone. Plugged into Madison Avenue Media's data and digital advertising capabilities, we become the 800lb. gorilla in the entertainment and event category," states Andrew Fox, Chief Executive Officer, The Management Group.

The Management Group offers integrated event marketing, media and promotional programs to brand advertisers, delivering the ability to build high impact, integrated, rich media programs across multiple properties, including web, interactive, print and event branding opportunities. The Management Group clients include Pepsi, Heineken, T-Mobile, American Express and other leading brands.

Fox co-founded The Management Group LLC in 2004 with President, and Executive Producer of Live Events, Lee Heiman. The Management Group is the holding company for all the related entertainment properties.

PROMO Industry trends reports that Event Marketing spending reached $171 Billion in 2005. Event marketing ranks second only to direct marketing in perceived return on investment (ROI), according to a survey of more than 700 marketing executives, reported by the Los Angeles Business Journal.

"We are extremely excited to acquire such a strong foothold in the lifestyle and entertainment industry. This is a great opportunity to leverage our portfolio of products into this key market channel," said Stephen Molinari, Chairman, Madison Ave. Media.

Based in NYC, The Management Group operates in multiple locations across the US and Canada, Buenos Aires, and Bangkok.

About Madison Ave. Media

As the #1 connector to the Mobile Generation, Madison Ave. Media's innovative technology delivers an integrated matrix of advanced digital communications, business intelligence and proprietary digital media resources to millions of global customers on a daily basis. Madison Ave. Media provides brands, networks and advertising agencies with the understanding and reach to effectively engage today's mobile customer, while delivering highly measurable results. Madison Ave. Media is headquarters in Boca Raton, Florida with offices across North America.

For more information about Madison Ave. Media, visit:

Caution Concerning Forward Looking Statements

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Madison Ave. Media's ability to improve their services, create new business models and content-owner opportunities, integration plans, the expected timing for the closing of the acquisition and the plans to operate Firefly independently. These statements are based on the current expectations or beliefs of management of Madison Avenue Media, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to (1) changes in economic, business, competitive, technological and/or regulatory factors, (2) failure to receive regulatory approval for the acquisition, (3) failure to compete successfully in this highly competitive and rapidly changing marketplace, (4) failure to retain key employees, (5) other factors affecting the operation of the respective businesses of Madison Ave. Media. More detailed information about these factors may be found in filings by Madison Ave. Media, as applicable, with the Securities and Exchange Commission, including their respective most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Madison Ave. Media is under no obligation to, and expressly disclaims any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information

  • Contacts
    To arrange an interview with Chairman Stephen Molinari, please contact
    Dan Lancer