PALM HARBOR, Fla., Sept. 14, 2011 /PRNewswire/ -- Max Media Group,
Inc. (Pink Sheets: MXMI), announced today the following corporate
update and short term business agenda.
Corporate Update:
After absorbing several acquisitions and web properties over the
last several years Max Media Group, Inc. has begun the process of
integrating these assets under the MXMI umbrella in a cohesive,
efficient, profitable business model. In this process, management
has reviewed each asset and property to see how it may fit in the
overall picture, including capital requirements, return on
investment and potential revenue streams.
From this review, management elected to divest its acquisition
of the 35,000 square foot showroom and classic car restoration
facility. The decision to unwind this transaction was based on the
overhead expense of the operation in light of the "slow down" in
the industry and overall economy.
Jim Grady, President of Max Media
Group, Inc., stated, "In our opinion, the resources required to run
the facilities could be utilized more efficiently and profitably
elsewhere in our business model."
Additionally, management viewed the restoration facility as a
diversion of focus from the Company's content development,
delivery, marketing and advertising revenue model.
In regards to its June 2011 10Q
Report, the Company is completing the review of the filing and
expects the report to be filed shortly.
Business Agenda
With the goal of moving the business model to the next level and
enhancing shareholder value, Max Media Group, Inc. has instituted
the following short term initiatives:
-A Securities attorney has been selected to begin the process of
filing a registration statement for the company to become fully
reporting.
-An auditor will be selected to prepare the Company's audits and
assist with a listing to the OTC Bulletin Board.
-The Company is pursuing opportunities to "syndicate" The
Maximum Motoring Show. Shareholders can listen to the show live and
archived shows at www.maximummotoring.com. The show is heard every
Thursday morning at 11:00 am ET on
1340 am & 1350 am in the Tampa
Bay market and on 880 am KLRG throughout the state of
Arkansas. Shareholders can also
listen to the Maximum Motoring Show interview Jay Leno on sister site Babelation by clicking:
http://www.babelation.com/audio/jay-leno-interviewed-jim-grady-and-stew-white.
-Some of the recently acquired BB2Live and BlackBook2 assets
will be operated in a subsidiary around the 15mm subscribers and
the BlackBook2 services as BlackBook My Online Network ("BMON").
BMON will be a business social network that will provide
all the services an individual or company would need to stay in
touch with their "Black Book" of contacts- Voice over IP, Fax over
IP, SMS Text Messaging, music download, video download, coupons,
cloud computing, email marketing and a continuous suite of add on
services.
-Black Books' Internet TV / Radio and Various other properties
and assets will be operated in a separate subsidiary as a IPTV
Talk show network platform. The platform will allow talk show
hosts to broadcast with or without video. The network will be
designed as the platform for launching numerous Internet TV / Radio
Properties. These properties will cover a variety of topics and be
the foundation for developing a continuously growing content
library in specific high value niches. It is the intention of Max
Media to spin this asset off eventually as a separate
publicly-traded entity via a dividend to its current shareholders.
While MXMI will retain a significant stake, a spin-off will enhance
shareholder value and allow the new entity to grow autonomously as
an internet TV/ radio distribution network. MXMI is currently
pursuing industry qualified management to run this network.
Grady stated, "Think of this network in the sense of the birth
of cable television. As content grew, viewership grew, and as that
viewership grew so did the demand for niche content. Our internet
TV /radio platform will be positioned to capitalize on the next
wave of that demand."
In closing, Grady concluded, "We have taken several measures
that we feel position the Company and its shareholders to
capitalize on the explosive growth taking place in User generated
content, social media, ecommerce and networking services. We will
keep our shareholders updated regularly as we pursue these
initiatives."
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include,
but are not limited to: the impact of economic, competitive and
other factors affecting the Company and its operations, markets,
product, and distributor performance.
Max Media Group, Inc. Contact : Jim
Grady 877-243-9327
SOURCE Max Media Group, Inc.