CASPER, Wyoming, March 3, 2019 /PRNewswire/ -- Imagination TV, Inc. (IMTV) has withdrawn from its agreement with Nine Mile Entertainment to produce the annual 9 Mile Music Festival, due to a substantial increase in the production budget for the March 9, 2019 event.
On August 9, 2018, Imagination TV. entered into an agreement with Nine Mile Entertainment to co-produce the annual 9 Mile Music Festival. Juan Areco, the Company's CEO commented, "At the time we entered into the agreement there was a preliminary budget for the event and IMTV was comfortable making a commitment for the funds needed. Richard Booker and his company Nine Mile Entertainment produce an incredible show year after year; however, the March 9 event became subject to an -increasing budget, which we could not commit to despite our best efforts. I have no doubt that the annual 9 Mile Music Festival will be a fantastic event -- we encourage all in the Miami and South Florida area to attend the March 9, 2019 event.
CEO Juan Areco continued, "We are currently hard at work to produce our own solo event in the very near future and will be providing updates on this event."
About Imagination TV Inc.
Imagination TV Inc. is a publicly traded online media and entertainment company with a focus on the Music & Live Event industries. http://www.ImaginationTV.co
About 9 Mile Music Festival.
About Nine Mile Entertainment Inc.
Nine Mile Entertainment is owned and operated by Richard Booker, Bob Marley's Brother. The company is responsible for organizing/producing the annual 9 Mile Music Festival and Food Drive in Miami, FL. More than a concert, more than a day, the 9 Mile Music Festival has provided over 4 million canned goods to various charities since its inception, distributing them to homeless shelters and food banks throughout Miami and Jamaica. The festival serves a double purpose, feeding families in need and bringing to Miami the magic and music of Jamaica and the rest of the Caribbean.
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SOURCE Imagination TV Inc.