ATLANTA, Nov. 8, 2012 /PRNewswire/ -- Light Media (OTC Markets: LGMH), Inspirational Media Specialist, announced today that it has signed a definitive agreement to divest the assets of its Power 105.5/The King radio station to Mt. Olive Baptist Church. The transaction is subject to customary conditions, including regulatory and other approvals.
"Power 105.5/The King was a perfect opportunity to test a number of theorems specifically related to (a) the community impact and reach of radio generally, and (b) the ability to launch new/untested formats quickly and efficiently and effectively for maximum results. Light Media achieved its primary objectives of proving that: (1) socially-responsible music formats (such as Power 105.5/The King) that do not degrade citizens, denigrate women or debilitate youth...are not only needed but are also highly respected by local communities when placed on the airwaves; and (2) Light Media could successfully convert an established top-tier radio station from secular rap format to indie inspirational urban gospel/holy hip hop format with great fanfare, admiration, applause and goodwill that will endure for years to come. Light Media is now actively reviewing opportunities to enter additional key media markets, in order duplicate the successes of Power 105.5/The King but on a broader scale, and across a larger urban media-centric area of population long-term," said Danny Wilson, CEO, Light Media.
About Light Media:
Light Media (OTC Markets: LGMH), Inspirational Media Specialist, markets, produces and distributes inspirational music, video, video games, print media and entertainment in the Urban Media space through its network of radio, Internet, television, print and special events global business platforms and marketing and alliance partners. Light Media is also the 20th publicly-traded media conglomerate (member) of the prestigious RBR-TVBR Media Stocks Index (see full RBR-TVBR Media Index listing at): www.RBR.com. For more information, please visit: www.LightMediaHoldings.com or www.InvaluableMedia.com.
Cautionary Note Regarding Forward-Looking Statements: This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Light Media (OTC: "LGMH") and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
Light Media PR
SOURCE Light Media