FT. LAUDERDALE, Fla., Feb. 16, 2007 (PRIME NEWSWIRE) -- 247MGI Inc. ("247MGI") (OTCBB:TOFS) is pleased to announce that it has completed negotiations to acquire the assets of a South Florida Media company including a full service Broadcast Studio under construction; the terms of the deal will be released shortly.
With this acquisition 247MGI will have the ability to own and operate as a full service studio capable of offering Broadcast services via satellite and the internet. The Internet Broadcast services will include streaming DVD quality Video and Digital Audio over the web through its own Broadcast Network. 247MGI currently has several shows under development and is negotiating with several other companies to produce shows for them.
247MGI anticipates being able to have the studio completed and operational by April 1st; in the meantime it has located another studio to use so it may begin production on several conceptual shows to air on its network. 247MGI will begin broadcasting taped shows on its new network sometime in March; once the studio is completed, 247MGI will begin "LIVE" production on some of its shows.
247MGI Inc. is a full service multimedia company offering its services to both public and privately held companies. 247MGI is a one-stop media and advertising company that assists its clients by creating marketing materials utilizing technology driven media formats for the distribution of information worldwide. The company utilizes the Internet to deliver its content more efficiently and at a higher standard than its competition. 247MGI has developed and continues to create unique programs to include "LIVE" as well as streaming video content which will be delivered through the web and via satellite.
This media release may contain forward-looking statements regarding but not limited to management, market potential, distributor success, market size, international sales, including statements regarding the intent, belief or current expectations of 247MGI Inc. and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could change actual results. Investors should refer to factors that could cause actual results to vary from current expectations and the forward looking statements contained in this media release.