Light Media Completes Divestitures and Eliminates Radio Debt
November 30 2011 - 9:20AM
Marketwired
Light Media (PINKSHEETS: LGMH), Inspirational Media Specialist,
announced today that it has: (1) divested of (a) real estate and
(b) minority ownership stakes in certain digital assets, while (2)
simultaneously changing the 4th Quarter balance sheet status of its
prized and powerful, flagship Albany, Georgia Power 105.5/The King
radio station platform media assets from "Owned-with-Outstanding
Promissory Note" to "Zero-Balance/Paid-In-Full."
"Light Media has examined extensively every move of Beasley
Broadcasting, Radio One and Salem Communications for several years,
studying their successes and learning from their mistakes.
Consequently, two key elements of Light Media's strategic plan have
been to: (1) acquire and integrate key radio/media properties; and
(2) not suffocate radio/media assets with mountains of constraining
secured debt. As such, Light Media set an objective to quickly pay
off the Power 105.5/The King 3-year promissory note balance; and in
less than six (6) months following the June 1, 2011 closing of
Power 105.5/The King, this zero note balance objective will be
reflected in the Light Media 2011 4th Quarter Report. This
accomplishment results in Light Media being one of the only
publicly-traded conglomerates on the prestigious RBR-TVBR Media
Index that owns its platform media assets (radio, TV, or digital)
free and clear of secured liens. To see the full RBR-TVBR Media
Index, click/copy/paste the following weblink:
http://www.rbr.com/radio/stocks-closed-mixed-on-tuesday-11-29-11.html.
Light Media will continue to heed the sage visionary wisdom of
Warren Buffet of aggressively investing and reinvesting during what
pessimists see as uncertain times, as a part of a focused effort to
continuously create value and maximize shareholder wealth and
favorable, long-term positioning for the future," said Danny
Wilson, CEO of Light Media. Rom.13:8.
About Light Media:
Light Media (PINKSHEETS: LGMH), Inspirational Media Specialist,
markets, produces and distributes inspirational music, video, video
games, print media and entertainment in the Urban Media space
through its network of radio, Internet, television, print and
special events global business platforms and marketing and alliance
partners. Light Media is also the 20th publicly-traded radio/media
conglomerate (member) of the prestigious RBR-TVBR Media Stocks
Index (see full RBR-TVBR Media Index listing at:
http://www.rbr.com/radio/stocks-closed-mixed-on-tuesday-11-29-11.html)
-- To listen to Power 105.5/The King, please visit:
www.Power105TheKing.com. For more information, please visit:
www.LightMediaHoldings.com, www.InvaluableMedia.com or
www.HotChristianStocks.com. Light Media Capitalization Structure,
as of Q4 (2011): Common Shares Issued: 38,273,500; Common Shares
Float: 7,050,000; Common Shares Authorized: 100,000,000.
Cautionary Note Regarding Forward-Looking Statements: This press
release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and
the Securities Exchange Act of 1934, as amended by the Private
Securities Litigation Reform Act of 1995. Those statements include
statements regarding the intent, belief or current expectations of
Light Media (PINKSHEETS: LGMH) and members of its management as
well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those contemplated by such forward-looking
statements.
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