NEW YORK, Feb. 13, 2006 (PRIMEZONE) -- DME Interactive Holdings, Inc. (Pink Sheets:DMHD), a multimedia company with an ethnically diverse perspective used to tap both minority and mainstream markets, is pleased to announce the acquisition of the assets of The Hispanic Media Asset Group, LLC., a multimedia company with a focus on the expanding U.S. - Latino Youth Market.
Under the terms of the agreement, DME Interactive Holdings will issue 17,900,000 shares to The Hispanic Media Asset Group, and in exchange acquire a controlling interest in the following companies:
The Girls Entertainment The Girls Entertainment is a lifestyle Public Relations and Marketing firm for the Urban Hispanic Market. A unique style and expertise in the Urban & Latin Market allows The Girls Entertainment to directly connect their clients to trend setters and Media in both Markets. Ritmo Tunes Ritmo Tunes is a Latin music portal and digital distributor of mobile content such as ring tones, wallpapers, games and software for mobile communication devices. Ritmo Tunes has targeted the emerging Latino youth market for direct consumer marketing and promotion of Reggaeton, Latin Hip-Hop, Pop and Rock artists as well as other entertainment content. Stilo Stilo is a Latin licensing company which provides new merchandising opportunities for clothing, footwear, denim, menswear, juniors, woman's wear, kids wear, outerwear, lingerie, jewelry, and accessories, in the Latin community and for Latin celebrities. Stilo's licensing opportunities will target the urban youth market for direct consumer marketing.
The Latino youth market is one of the fastest growing segments within the United States and represents a phenomenal opportunity for those marketers that have the ability to tap into that segment. Statistics indicate that the Latino youth market (Latinos under the age of 35) is currently 23,000,000 million strong in the U.S. This segment alone represents almost 8% of the US population and has historically been neglected by mass media and marketers. By the year 2030, it is expected that 1 in 4 youth in the U.S. will be of Latino origin.
DME Interactive CEO Darien Dash stated, "This acquisition represents a great step forward for DME Interactive. These new subsidiaries give us the ability to tap into a rapidly expanding, yet under serviced demographic, with the latest multi-media offerings." Mr. Dash went on to say, "Our focus moving forward will be to create strategic alliances with some of the best known media firms, and in doing so, provide them with unprecedented marketing access to Latino and other minority youth."
About DME Interactive Holdings
Founded in August 1994, DME Interactive Holdings is a multimedia company with an ethnically diverse perspective used to tap both minority and mainstream markets. More specifically, DME Interactive focuses on the convergence of high tech multi-media applications and its growing use and acceptance by ethnically diverse groups. DME Interactive has the unique ability to target and cater to minority groups which have traditionally been an under serviced demographic. This type of access is highly sought after by major media firms, with whom DME Interactive intends to partner with in order to deliver their message and market their offerings.
Note on Forward-Looking Statements:
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. DME Interactive Holdings, Inc. undertakes no obligation to update publicly any forward-looking statements.