GLUV Corp. Announces Entry Into the Entertainment Industry
Tuesday May 17, 10:25 am ET
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--May 17, 2005--GLUV Corp. (Pink Sheets:GVRP - News), 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.
Little bit of info for folks happening upon this board wondering WTF is going on...
GVRP - GLUV Corporation New Common Stock
Stock Dividend or Split Dividend Amount:
Due Bill Redeemable Date: 05/25/2005
A few Terms:
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The date on which a dividend, mutual fund distribution, or bond interest payment is made or scheduled to be made. also called distribution date.