TORONTO, Sept. 4, 2013 /CNW/ - Mood Media Corporation (ISIN:
CA61534J1057) (TSX: MM) (LSE AIM: MM) ("Mood Media" or the "Company")
today provided a further update on its previously announced strategic
review process.
As previously announced in April 2013, the Board of Directors and senior
management is engaged in a strategic process of identifying and
considering a range of operational, financial and strategic
alternatives to enhance shareholder value. At the request of IIROC, on
August 14, 2013, the Company announced that it had received non-binding
expressions of interest from third parties with whom it was in
discussions with respect to a potential sale of the Company. The
Company today announced that it is no longer pursuing discussions
regarding a potential sale of the Company with such third parties or
others as part of its strategic process. The Board of Directors and
management remain intent on completing their strategic review during Q3
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.
About Mood Media Corporation
Mood Media Corporation (TSX:MM/ LSE AIM:MM), is one of the world's
largest designers of in-store consumer experiences, including audio,
visual, interactive, scent, voice and advertising solutions. Mood
Media's solutions reach over 150 million consumers each day through
more than half a million subscriber locations in over 40 countries
throughout North America, Europe, Asia and Australia.
Mood Media Corporation's client base includes more than 850 U.S. and
international brands in diverse market sectors that include: retail,
from fashion to financial services; hospitality, from hotels to health
spas; and food retail, including restaurants, bars, quick-serve and
fast casual dining. Our marketing platforms include 77% of the top 100
retailers in the United States and 100% of the top 50 quick-serve and
fast-casual restaurant companies.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. The words
"believe", "expect", anticipate", "estimate", "intend", "may", "will",
"would" and similar expressions and the negative of such expressions
are intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements are subject to important assumptions,
including without limitation, expected growth, results of operations,
performance, and business prospects and opportunities. While Mood Media
considers these factors and assumptions to be reasonable based on
information currently available, they may prove to be incorrect. Known
and unknown factors could cause actual results to differ materially
from those projected in the forward-looking statements. Such factors
include, but are not limited to: the impact of general market,
industry, credit and economic conditions, currency fluctuations as well
as the risk factors identified in Mood Media's management discussion
and analysis dated August 8, 2013 and Mood Media's annual information
form dated March 28, 2013, both of which are available on www.sedar.com. Given these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. In particular, and without
limiting the generality of the foregoing, there can be no assurance
that the board of directors will determine to pursue any particular
operational, financial or strategic alternative, or should they
determine to pursue such an alternative, whether same will result in
any particular transaction being entered into or consummated, or the
terms or results thereof. All of the forward-looking statements made in
this press release are qualified by these cautionary statements and
other cautionary statements or factors contained herein, and there can
be no assurance that the actual results or developments will be
realized or, even if substantially realized, that they will have the
expected consequences to, or effects on, Mood Media. Forward-looking
statements are given only as at the date hereof and Mood Media
disclaims any obligation to update or revise the forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by applicable laws.
SOURCE: Mood Media Corporation
