GLUV Corp. Announces Entry Into the Entertainment Industry
Business Editors / Entertainment Editors
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--May 17, 2005--
GLUV Corp. (Pink Sheets:GVRP), announced today it has
finalized a Merger Agreement with DigiKidz Holdings, Inc., a Florida
corporation. GLUV Corp. has also filed with the State of Florida to
change its name to Media Magic, Inc. after effecting the Merger.
The transaction requires all current officers and directors of
GLUV to resign, and provides for the appointment of the Media Magic
management team to their appropriate positions in the new company.
After effecting the merger, Gerald C. Parker and Robert W. Pearce
will serve on the Board of Directors of the new entity, Gerald C.
Parker as Chairman of the Board, and Robert W. Pearce as Chief
Executive Officer, Secretary and Treasurer of Media Magic.
Media Magic owns and operates two wholly owned subsidiaries,
DigiKidz, Inc. and Orangebox Entertainment, Inc. DigiKidz is a leading
producer, developer, distributor and eCommerce retailer of a range of
personalized videos, books, CDs and music for the children's
marketplace. Orangebox, located in Hollywood, California, is an
innovative company that provides the next generation of multimedia
services ranging from Production to Post Production for the
entertainment industry. Its services include audio, visual, editorial,
and music from inception to completion.
Media Magic, Inc.'s Chairman, Gerald C. Parker, commented: "We are
excited about our current prospects and look forward to developing
Media Magic Inc. into an innovative, well-rounded leader in the
entertainment industry through several acquisitions."
Media Magic Inc., formerly known as DigiKidz Holdings, Inc., was
founded in November 2004 and is headquartered in West Palm Beach,
Florida. The Company conducts operations through its two wholly owned
subsidiaries, DigiKidz, Inc., Jupiter, Florida, and Orangebox
Entertainment, Inc., Hollywood, California. Media Magic acquired
DigiKidz in November 2004 and Orangebox Entertainment (formerly
Archetype Entertainment) in May 2005. Media Magic's strategy is to
further develop its subsidiaries' leadership in their specific
entertainment industry market segments and to develop the natural
synergies between them.
For further information on Media Magic, please call: Dennis
Ruggeri at (561) 820-2444.
This release contains statements that constitute forward-looking
statements. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current expectations
of the Company, its directors or its officers with respect to, among
other things: (i) the Company's financing plans; (ii) trends affecting
the Company's financial condition or results of operations; (iii) the
Company's growth strategy and operating strategy; and (iv) the
declaration and payment of dividends. The words "may," "would,"
"will," "expect," "estimate," "anticipate," "believe," "intend," and
similar expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
Company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements as a
result of various factors.
