FORT LAUDERDALE, FL / ACCESSWIRE / November 19, 2014 / Sports Media Entertainment Corp (OTCQB: EAHC) today announced it has signed a letter of intent to acquire Multimedia Platforms, LLC ("MMP"), a multimedia technology and publishing company delivering a suite of printed publications integrated with mobile, social media, and online platforms that are focused on the LGBT (Lesbian, Gay, Bisexual, Transgender) marketplace which is estimated to be an over $850 billion market.
Multimedia Platforms, LLC ("MMP") has established revenue-producing operations currently focused in South Florida. MMP produces two publications, Guy Magazine, a Men's Lifestyle periodical, and the Agenda-Florida Edition, a news and business focused weekly newspaper. The Company's expansion model includes plans to roll up other LGBT publications. MMP's publications reach more than 150,000 readers each month, and have over 60,000 unique visitors to the online sites per month.
The letter of intent with EAHC outlines a transition period pursuant to which MMP will accomplish the necessary steps to merge with EAHC and complete the transaction. At this time no definitive agreement has been entered into between the parties and there is no assurance that the parties will close on the transaction.
Upon successful completion of the transaction, Bobby Blair, CEO of MMP, will take over as CEO of EAHC, and EAHC will then undergo a name change to reflect its new business operations. Mr. Blair has more than 25 years of experience in leadership in the business world. At the age of 27, Mr. Blair became one of the youngest general managers in US history to lead a professional sports franchise when World Team Tennis/Billie Jean King hired Mr. Blair to lead the Tampa, Florida franchise. Mr. Blair launched MMP in 2007, with a dedicated, professional team, many of whom remain with the Company.
MMP's CEO, Bobby Blair, stated, "We have worked tirelessly over the last several years to build a print and online platform that reaches deep into the $850 billion LGBT market. Now, with this merger, we believe we will be able to accelerate our expansion through both organic growth and acquisitions," Blair added.
Early in 2014, TBG Holdings Corp. invested in Multimedia Platforms, LLC to strengthen MMP's corporate infrastructure, raise capital, provide accounting and CFO functions (through TBG's sister company, R3 Accounting,) and take preparatory steps to become a publicly traded company.
About Multimedia Platforms, LLC:
Multimedia Platforms, LLC ("MMP") is an industry-leading Multimedia Technology and Publishing company that integrates print media with social media, and related online platforms, to deliver information and advertising to niche markets. MMP's goal is to utilize their proven business model to deliver niche publications and online platforms that target one of the most sought after demographics in the world, the $850 billion dollar Lesbian, Gay, Bisexual and Transgender global market. MMP has recently expanded their concept to include video and mobile applications reaching deep into the international LGBT community. MMP's plan to interweave print, web and mobile delivery of the highest quality news and entertainment information via a variety of platforms crosses all cultural, generational and preferred modality barriers to reach an unprecedented audience.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.
CONTACT:
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SOURCE: Sports Media Entertainment Corp.