EX-99.1
12
v126010_ex99-1.htm
PRESS RELEASE
FOR
IMMEDIATE RELEASE
Legend
Media, Inc. Announces Acquisition of Additional Radio Minutes in
Shenzhen
BEIJING,
September 11, 2008 (PRIME NEWSWIRE) -- Legend Media, Inc. (OTC BB:LEGE.OB,
LM2-Frankfurt - News), a rapidly growing advertising business focused on the
Chinese radio market, today announced entrance into a contract to acquire the
rights to radio advertising in Shenzhen, China, a rapidly growing city of over
12 million residents. Situated just north of Hong Kong, Shenzhen is considered
one of the most economically developed cities in China, ranking seventh highest
in GDP per capita.
The
contract grants Legend Media exclusive rights to 45,990 minutes of radio
advertising inventory at an average cost of under $15 per minute. The
newly-acquired rights bring Legend Media one step closer to reaching its goal
of
adding six channels to its rapidly-expanding inventory by the end of 2008.
"The
addition of a channel in Shenzhen is a tremendous step that puts us ahead of
plan for 2008. Considering that we just closed an acquisition in Beijing very
recently and operations for the first acquisition in Tianjin have surpassed
internal forecasts with an EBITDA margin of over 50%, we remain bullish on
the
market opportunities. We are confident that the highly developed Shenzhen market
will add further value in terms of our proposition to advertisers", said Jeffrey
Dash, CEO of Legend Media, Inc.
Legend
Media has already begun the process of transitioning control of Shenzhen's radio
advertising. By deploying Beijing-based management to head up the transition,
the Company expects to have a fully operational team in place in the next six
weeks.
About
Legend Media, Inc.
Legend
Media, Inc., through its wholly-owned subsidiary Well Chance Investments Limited
("Well Chance"), intends to build a leading, consumer advertising network
in
China that reaches consumers through multiple advertising mediums, with a
specific near-term focus on radio. Well Chance is run by its world-class
Executive Team, Advisory Board, and Board of Directors. These teams have helped
to establish a network of partners in China and the United States that are
actively working to build the company's customer base, refine its business
development strategies, and identify additional acquisition candidates. Well
Chance leverages these partners to manage its relationships with major national
and international advertising agencies, while local operators focus on
maintaining radio station and advertiser relationships within their local
markets.
Cautionary
Notice Regarding Forward-Looking Statements
This
news
release contains "forward-looking statements", as that term is defined in
Section 27A of the United States Securities Act of 1933, as amended, and Section
21E of the United States Securities Exchange Act of 1934, as amended. Statements
in this press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans, expectations,
or
intentions regarding the future. Since the forward-looking statements relate
to
future developments, results, or events, these statements are highly speculative
and involve risks, uncertainties, and assumptions that are difficult to assess
and may not be accurate. Such risks include, but are not limited to, the risks
that the Company will be unable to close the acquisition [it is not clear above
that the acquisition is subject to closing conditions], identify and acquire
additional advertising rights, obtain financing and/or generate operating
capital, and engage and retain qualified personnel in order to achieve its
planned growth and expansion in China. You should not construe any of these
statements as a definitive or invariable expression of what will actually occur
or result. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. These forward-looking
statements are made as of the date of this news release and the Company and
Well
Chance assume no obligation to update the forward-looking statements, or to
update the reasons why actual results could differ from those projected in
the
forward-looking statements, except as may be required by law. Although the
Company believes that the beliefs, plans, expectations, and intentions contained
in this press release are reasonable, there can be no assurance those beliefs,
plans, expectations, or intentions will prove to be accurate. Investors should
consider all of the information set forth herein and should also refer to the
risk factors disclosed in the Company's periodic reports filed from time to
time
with the Securities and Exchange Commission and available at http://www.sec.gov.
Contact:
Legend
Media, Inc.
Jeffrey
Dash
(310)
933-6050
j.dash@legend-media.com

EX - 99 . 1 12 v126010 _ ex99 - 1 . htm PRESS RELEASE FOR IMMEDIATE RELEASE Legend Media , Inc . Announces Acquisition of Additional Radio Minutes in Shenzhen BEIJING , September 11 , 2008 ( PRIME NEWSWIRE ) -- Legend Media , Inc . ( OTC BB : LEGE . OB , LM2 - Frankfurt - News ) , a rapidly growing advertising business focused on the Chinese radio market , today announced entrance into a contract to acquire the rights to radio advertising in Shenzhen , China , a rapidly growing city of over 12 million residents . Situated just north of Hong Kong , Shenzhen is considered one of the most economically developed cities in China , ranking seventh highest in GDP per capita . The contract grants Legend Media exclusive rights to 45,990 minutes of radio advertising inventory at an average cost of under $ 15 per minute . The newly - acquired rights bring Legend Media one step closer to reaching its goal of adding six channels to its rapidly - expanding inventory by the end of 2008 . " The addition of a channel in Shenzhen is a tremendous step that puts us ahead of plan for 2008 . Considering that we just closed an acquisition in Beijing very recently and operations for the first acquisition in Tianjin have surpassed internal forecasts with an EBITDA margin of over 50 % , we remain bullish on the market opportunities . We are confident that the highly developed Shenzhen market will add further value in terms of our proposition to advertisers " , said Jeffrey Dash , CEO of Legend Media , Inc . Legend Media has already begun the process of transitioning control of Shenzhen 's radio advertising . By deploying Beijing - based management to head up the transition , the Company expects to have a fully operational team in place in the next six weeks . About Legend Media , Inc . Legend Media , Inc . , through its wholly - owned subsidiary Well Chance Investments Limited ( " Well Chance " ) , intends to build a leading , consumer advertising network in China that reaches consumers through multiple advertising mediums , with a specific near - term focus on radio . Well Chance is run by its world - class Executive Team , Advisory Board , and Board of Directors . These teams have helped to establish a network of partners in China and the United States that are actively working to build the company 's customer base , refine its business development strategies , and identify additional acquisition candidates . Well Chance leverages these partners to manage its relationships with major national and international advertising agencies , while local operators focus on maintaining radio station and advertiser relationships within their local markets . Cautionary Notice Regarding Forward - Looking Statements This news release contains " forward - looking statements " , as that term is defined in Section 27A of the United States Securities Act of 1933 , as amended , and Section 21E of the United States Securities Exchange Act of 1934 , as amended . Statements in this press release which are not purely historical are forward - looking statements and include any statements regarding beliefs , plans , expectations , or intentions regarding the future . Since the forward - looking statements relate to future developments , results , or events , these statements are highly speculative and involve risks , uncertainties , and assumptions that are difficult to assess and may not be accurate . Such risks include , but are not limited to , the risks that the Company will be unable to close the acquisition [ it is not clear above that the acquisition is subject to closing conditions ] , identify and acquire additional advertising rights , obtain financing and / or generate operating capital , and engage and retain qualified personnel in order to achieve its planned growth and expansion in China . You should not construe any of these statements as a definitive or invariable expression of what will actually occur or result . Actual results could differ from those projected in any forward - looking statements due to numerous factors . These forward - looking statements are made as of the date of this news release and the Company and Well Chance assume no obligation to update the forward - looking statements , or to update the reasons why actual results could differ from those projected in the forward - looking statements , except as may be required by law . Although the Company believes that the beliefs , plans , expectations , and intentions contained in this press release are reasonable , there can be no assurance those beliefs , plans , expectations , or intentions will prove to be accurate . Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company 's periodic reports filed from time to time with the Securities and Exchange Commission and available at http://www.sec.gov . Contact : Legend Media , Inc . Jeffrey Dash ( 310 ) 933 - 6050 j.dash@legend-media.com