TV Goods, Inc. and 50 Cent's SMS Audio, LLC Move From Term Sheet and Sign Definitive AgreementFont size: A | A | A
8:31 AM ET 5/31/11 | Marketwire
TV Goods, Inc. ("TV Goods"), a direct response marketing organization and wholly owned subsidiary of H & H Imports, Inc. (OTCBB: HNHI), has announced that it and SMS Audio, LLC ("SMS"), an affiliate of rapper and business-mogul 50 Cent, have entered into a definitive agreement for TV Goods to exclusively produce and distribute a direct response television infomercial to globally market a wireless over-the-ear headphone product. The product will be endorsed by and will bear the name of "50 Cent."
Kevin Harrington, Chairman of TV Goods, stated, "I'm very excited about finalizing the definitive agreement with SMS. With TV Goods working directly with SMS, together we can be in complete control of the execution of taking this product to market thorough direct response marketing."
Under the terms of the agreement, TV Goods will begin pre-production of creative, media and marketing plans for the imminent launch of the infomercial. TV Goods will launch the direct response commercials to drive product awareness and generate sales. The infomercial is scheduled to begin pre-production in June with product expected to be available for sale in the third quarter of this year. Viewers of the infomercials will be able to purchase the product via a 1-800 number and also through a designated website.
50 Cent stated, "I am glad that we have finalized the TV Goods deal, so I can now focus my energy on finalizing the product and getting it to market ASAP. TV Goods will enhance my marketing strategy with television and the internet and I plan to also promote the product in music videos, TV, radio, through social networking, and movies."
