To recap, this is a company on the move. Once you do a little due diligence you will soon realize they have some very signficant holdings. Volume has been light, but I think that will change as more and more people come to understand their holdings.Take a look at their subsidiaries. Look at their web site. Get to know the company.
The week of Thanksgiving typically is a lighter volume week. That means more movement can happen on less volume. Do understand that.
Here is a look at the company:
( see more in our StockGuru Profile at http://www.stockguru.com/profiles/mmda )
Mega Media Group, Inc. (OTCBB: MMDA) is a multimedia entertainment holding company with several subsidiaries that offer a broad range of services. The divisions include talent management, music publishing, recording, music production and distribution, video production, radio broadcasting, and Russian ethnic programming.
Long Term Radio Lease Agreement
Echo Broadcasting Group, Inc., the radio broadcasting division of Mega Media, announced in mid-November the execution of a long-term lease agreement with Island Broadcasting Company.
The five year lease agreement with station-owner Island Broadcasting Company is for the frequency located at 87.88MHz (FM), which transmits to all five boroughs of New York City, Long Island, northern and central New Jersey, and southern Connecticut. Mega Media previously held a lease for 87.75MHz (FM) and expands the reach of its programming by switching to this new and more powerful frequency.
Commenting on the announcement, Mega Media’s CEO, Alex Shvarts, stated, “The increased reach of this new frequency will give Mega Media the potential to become a more viable player in the New York City radio market. In addition, the security of a long-term lease agreement will allow us to invest more aggressively in our radio programming division in the coming months.”
Signature Product Line – “Patti LaBelle — Good Life”
Skeleton Key Entertainment, the mainstream entertainment division of Mega Media, has launched a signature Patti LaBelle product line. This product line is currently in stores and includes premium pepper products, her third cookbook and an instructional cooking DVD.
The first food product to be released under the “Patti LaBelle — Good Life” brand is a custom blended line of hot sauces and relishes that will be introduced later this year throughout major retail food outlets nationwide. Following the launch of the pepper product line, LaBelle will release her third cookbook and first-ever instructional cooking DVD, both under the “Patti LaBelle — Good Life” brand. Other kitchen items and food products are also in development.
“My new brand and line of products is my way of sharing my love of cooking, my family recipes and my vision of how to live ‘the good life’ with the world,” LaBelle stated. “I’m so excited because I’ve wanted to develop my own line of products for many years. I look forward to adding a little bit of spice to kitchens everywhere!”
Commenting on the announcement, Charles Suitt, Executive VP of Skeleton Key, stated, “Ms. LaBelle’s love of cooking and entertaining is shared in an inviting and honest way that will make her signature products as timeless as her music. It is a true honor to work with her and to be a part of launching something so special.”
Also commenting on the announcement, David Kokakis, Chief Operating Officer of Mega Media and President of Skeleton Key, stated, “Over the decades the name ‘Patti LaBelle’ has become synonymous with refinement, warmth and integrity. We have gone to great lengths to ensure that her new product line embodies these qualities.”
Media Branding Division
Skeleton Key Entertainment launched its Media Branding Division in late September. The division’s first deal closed with Morgans Hotel Group, pursuant to which Skeleton Key created a branded compilation album for the boutique hotel giant. The CDs are slated for distribution to the various Morgans Hotel Group properties this month.
Commenting on the announcement, David Kokakis, Chief Operating Officer of Mega Media and President of Skeleton Key, stated, “Music reaches consumers unlike any other medium. Our intention is to create a sonic identity for our clients by crafting a custom ’soundtrack’ that represents each brand’s unique aesthetic. The Morgans Hotel Group custom compilation album will be the first of such projects for this new division.”
Subsidiaries
Skeleton Key Entertainment
Skeleton Key Entertainment is comprised of several divisions: recorded music, literary and music publishing, talent management, branding and new media ventures.
Skeleton Key Recordings
Skeleton Key Recordings provides a full-service forum for pop/rock, alternative and urban music artists. All the services of a major record label are provided, including funding, artist development, recording services (with access to Mega Media’s recording studios), promotions, marketing, artwork creation and retail distribution. DVD projects are also produced in-house in Mega Media’s video facilities.
Skeleton Key Publishing
Skeleton Key Publishing focuses on acquiring various music properties and offers quality world-wide music administration services, which include royalty collections, accounting services, copyright registrations, song-plugging services, songwriter workshops and talent development. As a newer part of its Publishing Division, Skeleton Key also funds, develops and distributes literary works and audio book projects.
Skeleton Key Urban Management and Skeleton Key Pop/Rock Management
Skeleton Key Urban Management and Skeleton Key Pop/Rock Management are separate divisions of Skeleton Key that provide management and career development services to artists, producers, music executives, songwriters and entertainment companies.
Skeleton Key Branding and Special Projects
Skeleton Key’s Branding Division offers consulting services and funding to corporate clients and entertainers seeking to expand the reach of their respective brands. For instance, through its “I.D. Compilations” series, Skeleton Key offers custom compilation albums, DVDs and enhanced hang tags/multi-media cards to a select group of clients from the fashion, nightlife and entertainment arenas.
Mega Media Film
Mega Media Film is a full-service film studio with a virtual 3D chromatic room and a 4A virtual studio. This studio is utilized to produce music videos for recording artists and multimedia projects. In addition to being used for music-based projects, Mega Media Film produces TV commercials, infomercials, and other video-related products. Mega Media Film has a talented staff of animators, visual effect designers, and editors. Mega Media Film also produces independent films and various DVD projects. The virtual 3D studio allows the production of video products at a fraction of the cost of traditional films. Most of the video products filmed today require the use of large, physical sets. This is costly and time-consuming, since actual physical labor is required along with permits, adequate on-location space and extensive personnel. Mega Media Film’s graphic designers can create life-like virtual sets by using this new technology without the hassles of traditional filming.
Mega Media Studios
Mega Media Studios is a multi-room, state-of-the-art, 7000 square foot facility located in Brooklyn, just minutes outside of Manhattan. Studio A features a 96 channel Euphonix console, custom Dynaudio Munro monitors, and two large isolation booths for the ultimate accommodations in live recording. Studio B is the perfect MIDI-based writing room with vocal booth. Mega Media Studio’s personnel are experienced, professional and helpful. The studios are fully-equipped to handle projects from commencement to conclusion, and provide the perfect environment for artists to create their magic.
Echo Broadcasting, Inc.
Echo Broadcasting, Inc. is a Russian-American entertainment and media company. Driven from within by its consumer brand – Evolution of Entertainment – Echo’s Interactive and Publishing division is contemporary, entertaining, fun and relevant to the Ethnic Russian consumers in North America. Working with cutting-edge news networks and contributing staff in the entertainment and fashion industries both in the United States and the Former Soviet Union, Echo is able to deliver a unique blend of content that resonates with the Second Generation mentality – distinctly American with a European flair. Echo is a media partner in many major Russian events and concerts in the New York Metropolitan Area.
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