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Max Media Group, Inc. Announces Corporate Update
Monday May 9, 2011, 8:16 am
TARPON SPRINGS, Fla., May 9, 2011 /PRNewswire/ -- Max Media Group, Inc. (PINKSHEETS:MXMI.pk - News), 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."
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