NEW YORK, April 24, 2002 (PRIMEZONE) -- World Financial Capital Markets, an investment boutique specializing in the underwriting of public and privately held securities, amended coverage of its previously issued report on Cedar Knolls, New Jersey-based MediaBay because of its initial foray into the satellite marketplace with Sirius Satellite Radio. The transaction allows unlimited programming from MediaBay's RadioClassics subsidiary to be available on the Sirius Satellite network. Such programming includes classic shows from Sherlock Holmes and Fibber McGee & Molly.
MediaBay, with shares traded on the Nasdaq National Market under the ticker MBAY, is a dominant provider of spoken audio and nostalgia products, including audio books and classic radio shows. World Financial maintains a strong buy rating and 12-month target of $10 for MediaBay.
Full details of the report can be viewed through the Breaking News section of World Financial's Internet site at www.worldcapmarkets.com.
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About World Financial Capital Markets
World Financial Capital Markets Inc. is a New York-based investment boutique and chartered member of the National Association of Securities Dealers and Securities Investor Protection Corporation. The firm's main goal has been to engage in the business of investment banking, analytical research, underwriting and broaden its horizon from retail brokerage clients towards institutional clientele.