PALM HARBOR, Fla., Dec. 8, 2009 (GLOBE NEWSWIRE) -- Max Media Group, Inc. (Pink Sheets:MXMI) announced today that it has entered into a Letter of Intent (LOI) to acquire Babelation.com www.babelation.com.
G. James Grady, Chairman of Max Media Group, Inc., stated, "The Babelation website and lucrative niche market of 'News and Information' is a perfect fit for our www.hotnewsweb.com property. The fact that Babelation already has a very strong business and revenue model will really jump start us in this important demographic. This will also add additional inventory for our advertising sales force."
Ted Flowers, Senior Editor and Director of Business Development for Babelation, stated:
"The acquisition of Babelation by Max Media is a win-win for everyone. Max Media's public status will enable the rapid capitalization of Babelation. Babelation will now be able to launch a full-scale marketing campaign aimed at its target market. Babelation has already proved its business model of creating significant advertisement-based revenues through publishing of self generated user-created multimedia content. User-generated content is the fastest growing portion of Internet traffic. Sites like Twitter, Facebook and Wikipedia are based on user-generated content and all have grown to more than 10 million monthly visitors.
"The Babelation team believes with marketing capitalization provided by the merger with Max Media that they can develop a large monthly visitor audience and profitable revenue stream."
Babelation "News by You 4 You."
Babelation.com is a Leading User-Generated News and Information distribution portal focused on the aggregation of content from authors, bloggers, experts, reporters, students, news junkies, and everyday people. It is "News by You 4 You."
Babelation's business model differentiates itself by including revenue sharing cash payments to content providers, who historically have "worked for free" by submitting their content to social networks like YouTube, MySpace, Flickr and others without receiving compensation. Babelation pays content producers and is a pioneer in the revenue sharing content market. Babelation pays a varying monthly rate of 10-25% to content producers. Babelation's portal enables the general public to create and organize their own news and information; anyone anywhere can upload breaking news stories by text, photo, or video through cell phones, mobile devices, or Internet connection posted on the Babelation platform.
Max Media also announced that it is working closely with its transfer agent and the Depository Trust Company (DTC) to complete the dividend issued by Gold Coast Mining (Pink Sheets:GDSM). Management assures all GDSM shareholders of record of GDSM stock on August 31, 2009 that they will receive their dividend. With all the regulatory changes and additional requirements, there have been unexpected delays out of Gold Coast Mining's control. Shareholders of GDSM that have met the requirements for the dividend are encouraged to send their contact information to Jim Grady via email at jim@maxmediamxmi.com to be kept up to date on developments regarding their dividend.
About Max Media Group, Inc.
MXMI aggregates content in high value specific niche markets. MXMI plans to research and target these high end demographic segments.
Markets currently being developed include:
* Classic, Exotic, and Collector automobiles www.hotautoweb.com, www.luxuryautodirect.com, www.extremechevys.com, www.maximummotoring.com * Boating and Yachting www.hotboatweb.com, www.reelyachts.com * Planes and flying www.hotplaneweb.com * Luxury motor coaches and RV's www.hotrvweb.com * Custom motorcycles www.hotcycleweb.com * Philanthropy and Charitable giving www.hotcharityweb.com * User-provided news and information www.babelation.com * Trading and bartering high worth items www.hottradeitweb.com
The domain properties were founded in 2001 with the current management assuming control in 2009. In the past 5 years, www.hotautoweb.com has generated $17 million dollars in the classic car segment.
The Company currently has 75,098,804 shares issued and outstanding.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.