CMG Holdings, Inc. Announces the Formation of a Joint Venture Partnership to Create an Internet Broadcast Music Channel (Business Wire)
Tue, 9 Jun 2009 11:29:00 Etc/GMT
The corrected release reads:
CMG HOLDINGS, INC. ANNOUNCES THE FORMATION OF A JOINT VENTURE PARTNERSHIP TO CREATE AN INTERNET BROADCAST MUSIC CHANNEL
CMG Holdings, Inc., (CMG) (OTC BB: CMGO - News), a full service global marketing, sports, entertainment and management communications company operating in the sectors of talent management, event management and commercial rights, is pleased to announce that its wholly owned subsidiary, XA, The Experiential Agency, Inc. (XA) has completed the formation of a joint venture to create an internet broadcast music channel with Nylina, LLC, and AudioEye, Inc. The joint venture entity, 24HVC, LLC will transmit music content via an internet broadcast channel.
The 24 Hour Video ChannelTM (24HVC) will deliver live music performances, on-demand videos, and other music entertainment content in a high definition video and audio format. 24HVC combines a unique blend of talent, technology, and know how and Audio Eye’s partnerships with Modavox, Augme Mobile, and Limelight Networks will provide a technologically advanced content distribution system for 24HVC. The Internet infrastructure provides both broadcast origination and distribution points for 24HVC that include concerts, events, and in-store retail broadcasting.
Alan Morell, Chairman and CEO of CMG Holdings, Inc, said, “This Internet-based broadcast music channel partnership bridges both video and audio platforms, and allows CMG to leverage our existing capabilities with this new technology in order to further enhance the services we already provide for our clients with Fortune 500 corporate campaigns for e.g. General Mills, Best Buy, Pfizer and Smith & Nephew. This platform represents the triad of talent, content and distribution and is a template for a variety of CMG future channels in Literary, Medical Health and Wellness, Lifestyle, Change of Politics, Business, Sports and Entertainment.”
Nathaniel Bradley, CEO, of Audio Eye, Inc. stated, “We are honored to have Cool & Dre and the XA as our partners in building the 24 Hour Video Channel on our accessibility platform that will provide a first-of-its-kind environment for delivering highest quality music videos and related content to consumers regardless of any physical limitations that they may have.”
Joseph Wagner, CEO of XA stated “The creation of an internet music channel that will provide an interactive marketing platform for artists, record labels and corporate partners with a cogent revenue model will be the end result of this joint venture. We are looking forward to the official launch of 24HVC’s internet broadcast music channel later this summer.”
About Nylina, LLC
Nylina, LLC is wholly owned by Miami based chart-topping super producing duo Marcello “Cool” Valenzano and Andre “Dre” Lyon also know as Cool & Dre. They have created original music that crosses a variety of musical genres and that merge the lines that divide pop culture. The stellar list of artists that Cool & Dre have worked with include; Linkin Park, Lil Wayne, Gym Class Heroes, The Game, Nas, Busta Rhymes, Wale, Freeway, Darryl Hall, and Duffy. Cool & Dre have been instrumental in bringing to the masses such classic # 1 hits as “New York” by Ja Rule and “Hate it or Love It” by 50 Cent and The Game for which they were nominated for a Grammy award. Most recently they were also nominated in the prestigious Album of The Year category for their work with Lil Wayne's “Tha Carter III” and in the Best Rap Album Category for their work on Nas' “Nas” album.
About AudioEye, Inc.
Founded in 2003 Audio Eye Inc. has developed patent pending, Internet content publication and distribution software that enables the conversion of any media into accessible formats and allows for real time distribution to end users on any network connected device. Audio Eye solutions include comprehensive E-Learning and E-Commerce systems as well as a variety of Internet products and services that enable customers to create and deliver accessible and highly scalable web-based applications.
About XA, The Experiential Agency, Inc.
XA, The Experiential Agency, Inc. is a wholly owned subsidiary of CMG Holdings, Inc. and has offices in Chicago, New York and Los Angeles from which it provides corporations and highly visible brands with comprehensive event marketing, design and production services. The XA brand has a 20 year history. Its team has been the creative force behind prestigious, national projects for such clients as NBC Universal, Unicef, Harrah’s Entertainment, Conde Nast, McDonalds, W Hotels, Emirates Airline and Ritz Carlton.
About CMG
CMG Holdings, Inc. is a full service global marketing and communications company operating in the sectors of talent management, event management and commercial rights. Talent Management includes representation of personalities in the entertainment, athletic, literary industries for endorsements, licensing, speaking appearances, and image marketing. Event Management includes marquis hospitality, sponsorships, licensing, production and implementation of events including hospitality services pairing corporate client sponsors and premier events to ensure the highest return on their investment and brand exposure. Commercial Rights includes branding, consulting, licensing, sponsorships, sales through image marketing tools to generate premier brand recognition for our clients.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'will,' 'anticipated,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. CMG Holdings, Inc., (OTC BB: CMGO - News) takes no obligation to update or correct forward-looking statements and also takes no obligation to update or correct information prepared by third parties that is not paid for by the Company.
Contact:
CMG Holdings, Inc. Jim Ennis, +1-212-521-4111 Chief Operating Officer investorrelations@creativemanagementgroup.com www.cmgholdingsinc.com www.creativemanagementgroup.com
source: http://biz.yahoo.com/bw/090609/20090609005377.html?.v=2