Mood Media says it's in talks with third parties 2013-08-14 14:15 PT - News Release
Mr. Dominic Morley reports
MOOD MEDIA PROVIDES MARKET UPDATE ON STRATEGIC PROCESS
Mood Media Corp., at the request of IIROC, today provided an update on its strategic review process previously announced in April, 2013.
As previously disclosed, the board of directors and senior management initiated a process to identify and consider a range of operational, financial and strategic alternatives to enhance shareholder value. As part of this process, the company has received non-binding expressions of interest from third parties with whom it is currently in discussions with respect to a potential sale of the company. The company stated that while there can be no assurance that the board's exploration of strategic alternatives will result in any transaction (including a potential sale of the company) being pursued, entered into or consummated, it is the board's intention to complete its strategic review process as soon as possible during the third quarter of 2013.
While undertaking this process, the board and senior management team remain highly focused on executing the company's long-term operational plan, including among other initiatives the integration and realization of the strategic and financial benefits of the acquisitions completed over the past two years.
Mood Media does not currently intend to discuss or disclose further developments with respect to this process until the board has approved a definitive course of action.