MXMI NEWS
Max Media Group, Inc. Announces Corporate Update
Max Media Group, (USOTC:MXMI)
Intraday Stock Chart
Today : Monday 9 May 2011
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Max Media Group, Inc. (PINKSHEETS: MXMI), announced today the following corporate updates:
Classiccorvettes.com to begin updates
The legacy site www.classiccorvettes.com is in the process of undergoing a complete update. The look and feel will be brought current as will the technology behind the site. Classiccorvettes.com is a great name and has had tremendous interest from potential buyers and partners. The company plans to leverage this site with the help of strategic partnership arrangements. The three serial number one Corvettes from 1955,1956, and 1957 will continue to be marketed for sale on this site. Current asking price is $3,000,000
Max Media Group classic car restoration and speed shop is now open under the name Suncoast Speed and Custom Cars The company has recently started the restorations of a 1963 Corvette Convertible, 1968 Chevelle Convertible ProTouring, 1970 Plymouth Cuda ProTouring, 1969 Camaro Convertible ProTouring, and a 1971 Chevelle Convertible. Technology is in the works to give customers the ability to look in on their projects through internet video cameras.
Maximum Motoring Show
The Maximum Motoring Show continues to be heard at 3:00 pm EDT. Thursdays on WTAN 1340 and 1350 AM in Tampa Bay, Florida. The show is also broadcast live on the Internet. The link can be accessed at www.maximummotoring.com. Max Media takes phone calls toll free at 866-826-1340 or 727-441-3000 during the show and emails at theguys@maximummotoring.com.
EXPANSION AND ACQUISITIONS
As previously announced, the Company has entered into several Letter Of Intents for various acquisitions. The Company is finalizing the terms and conditions regarding BB2LIVE and The Golden Voice ,and expects the deals to proceed to Definitive Agreements over the next few days.
Additionally, the Company continues to identify additional acquisitions that are expected to move to the next stage of due diligence over the next few weeks as well.
Grady stated, "It is our intention to aggressively take advantage of the huge discrepancy in the market for buying and selling smaller websites (generally with price tags under $1 million). By acquiring smaller sites at the lower multiples and networking them together under the Max Media umbrella, the Company will achieve higher valuations and multiples for its shareholders."
About Max Media Group, Inc.
Max Media Group, Inc. currently operates several web sites including www.classiccorvettes.com, www.babelation.com, www.maximummotoring.com, www.hotautoweb.com, www.hotrvweb.com, www.hotboatweb.com and www.hotcharityweb.com among others. 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 operates its various media outlets to market its listings and listing services. The Company's listings include high-ticket items such as classic cars, boats, planes, RV's, etc. The Company plans to offer these listing services through a national network of trained independent representatives.
The Company currently has 75,098,804 shares issued and outstanding.
FOR FURTHER INFORMATION contact:
Max Media Group, Inc.
Jim Grady
877-243-9327
SOURCE Max Media Group, Inc.
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