ZoomerMedia Limited

ZoomerMedia Limited

March 31, 2010 15:06 ET

ZoomerMedia Limited Announces CRTC Approval

ZoomerMedia Limited Announces CRTC Approval of its Acquisition of Two National Specialty Channels-VisionTV and ONE: the Body, Mind & Spirit Channel-and two local stations, Joytv 10 in Vancouver and the Lower Mainland in BC and Joytv11 in Winnipeg PLUS MZMedia Inc.’s The New Classical 96.3 FM & 103.1 FM and The New AM 740-Zoomer Radio

TORONTO, ONTARIO--(Marketwire - March 31, 2010) - ZoomerMedia Limited (TSX VENTURE:ZUM) ("ZoomerMedia"), today announced the Canadian Radio-television and Telecommunications Commission (CRTC) decisions to approve applications by ZoomerMedia, under the leadership of Founder Moses Znaimer, to effect transactions to acquire:

(a) the assets and undertakings of the business of VTV used exclusively and predominantly in connection with VTV's ownership and operation of the Canadian specialty television programming service known as and operating under the name "VisionTV";
(b) all of the issued and outstanding shares in the capital of Christian Channel Inc. ("CCI") owned by VTV, with the primary assets owned by CCI being the CRTC licenses for the television programming undertakings CHNU-TV Fraser Valley and CIIT-TV Winnipeg, also known respectively as "Joytv 10" and "Joytv 11";
(c) all of the issued and outstanding shares in the capital of Vision TV Digital Inc. ("VTVDI") owned by VTV, with the primary asset owned by VTVDI being its 47.22% ownership interest in ONE: the Body Mind & Spirit Channel, being the holder of the CRTC license for an English language Category 1 specialty television service known as ONE: The Body Mind and Spirit Channel ("One"); and
(d) all of the issued and outstanding shares in the capital of MZMedia Inc. ("MZMI"), with the primary assets of MZMI being the CRTC licenses for the radio undertakings CFMZ-FM, the New Classical 96.3 FM and 103.1 FM and CFZM, Zoomer Radio AM740.

The CRTC, in its announcement of March 30, 2010, acknowledged that it had received numerous letters in support of the application.

Now that it has received CRTC approval, ZoomerMedia intends to close the transactions upon receipt of requisite shareholder and TSX Venture Exchange approval.

"This is the culmination of my plan to create a company with a unique focus on the 45plus demographic. The process began with my purchase of 96.3FM; next came the acquisition of Kemur Publishing Co. Ltd., then the amalgamation of Kemur Publishing, Fifty-Plus.Net Inc., and Fifty-Plus.Net International Inc. into ZoomerMedia Limited ("ZoomerMedia") and the re-vamping of CARP Magazine into our flagship, ZOOMER Magazine; then came my purchase of AM740 (Zoomer Radio), and now the acquisition by ZoomerMedia of the TV and radio properties. Following the close, we will begin integrating all our ZoomerMedia operations, and moving them, along with the Advocacy Association, CARP, with which we are so closely aligned, into our new location in Toronto's Liberty Village," said Moses.

In February 2008, Moses announced A New Vision of Aging for the 14.5 million Canadians 45plus. In the brief time since then, Moses has assembled a unique multi-platform organization, comprised of national print, regional radio, a suite of websites, and conferences and events – all serving their needs and interests.

"This CRTC decision strengthens an important independent voice in the Canadian broadcasting environment. Vision TV's core audience are viewers 45plus, making it a natural complement to ZoomerMedia's existing media properties. Moses is sure to inject an innovative perspective in creating intelligent quality programming that continues to serve this diverse, demanding and dynamic audience," said Bill Roberts, Vision TV President and CEO.

"ZoomerMedia Limited will now be represented on all media platforms: radio, TV, print and web. In this current environment, we will be available on all fronts in order to more powerfully advocate on behalf of the 45plus community, and offer comprehensive media strategies to advertisers who wish to reach them," said George Grant, President and CEO, MZMedia Inc.

It is well known throughout the broadcast world that Moses transformed television with groundbreaking concepts such as the user-generated Speaker's Corner (video equivalent of Letters To the Editor), the Streetfront/Studioless television operating system, Videography (first-person, hand-held reporting), and Televised Diversity. These innovations were at the core of the over 20 transformative, popular and independent Stations and Channels he co-founded and executive produced, including Citytv, CityPulse24, Bravo! - Canada's NewsStyleArtsChannel, SPACE: The Imagination Station, FashionTelevision, Star!, Book Television, ACCESS: The Education Station, and Canadian Learning Television; not to mention MuchMusic and MusiquePlus, which served to define a generation of Canadian youth in both official languages.

As Moses stated in June 2009, around his announcement to acquire the stations, "These decisions will put me back into TV, where I have a little experience, and a few ideas that should grow shareholder value."

About ZoomerMedia

ZoomerMedia publishes ZOOMER Magazine, the largest paid circulation magazine in Canada for the mature market. Published nine times a year, ZOOMER Magazine has a paid circulation of approximately 180,000 and places a further 30,000 copies on newsstands.

ZoomerMedia also derives royalty revenue through the provision of exclusive marketing and membership services to CARP, A New Vision of Aging for Canada.

ZoomerMedia also operates a lifestyle consumer show that is principally directed to adults 45plus.

ZoomerMedia is also Canada's leading provider of online content targeting the 45plus age group. The portfolio of web sites and electronic newsletters delivers over 2 million page views per month. The key property is www.50plus.com, delivering a wide range of information, entertainment, community (forums, dating, blogs) and commerce together with four electronic newsletters (health, money, travel, lifestyle), each of which has over 120,000 opt-in subscribers.

ZoomerMedia also produces and manages www.carp.ca, the online home of CARP. With 350,000 members, CARP is Canada's largest association for Canadians As We Age. ZoomerMedia also produces CARP Action Online, an electronic newsletter for CARP members.

Cautionary note on forward looking statements

Certain statements made in this report are 'forward-looking statements' which may include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words 'believe', 'anticipate', 'expect', 'estimate', 'project', 'will be', 'will continue', 'will likely result' or similar words or phrases. Forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in filings by ZoomerMedia Limited with provincial securities commissions. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to, the following:

  • the risks inherent in magazine publishing generally;
  • the risks inherent in the operation of Internet media properties generally;
  • the Company's dependency on a few large customers;
  • the competition within the media industry for the baby boom generation's business;
  • the risks associated with governmental regulation of the publishing and internet businesses;
  • the results of legal claims made by or against the Company;
  • the risk of managing the current revenue growth rate;
  • the dependence of the business on the continuing operation of its computer systems; and
  • the dependence on key personnel.

Given these risks, and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. ZoomerMedia Limited does not intend and does not assume any obligation to update these forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • ZoomerMedia Limited
    Leanne Wright
    VP Communications
    416.886.6873 or 416.367.5353 X200