This came in from Stockhouse tonight:
MAGNUM VENTURES- CORPORATE BACKGROUND & INTRODUCTION
On April 19, 1999, Magnum Ventures Inc. (Pink Sheets: MGVN) acquired
Radiotower.com and has applied for a change of name to reflect this event.
The expected name will be Radiotower.com. The name change is expected
to take effect shortly.
Radiotower.com is a free online directory of radio stations that webcast on
the Internet. Radiotower makes it easy to tune in and listen to over 900 radio
stations from around the world in dozens of genres (top 40, news, alternative,
rock, sports, etc.). All stations listed can be tuned in from
radiotower.com . The company also provides information and
descriptions for each station and links to the stations' own home page. Users
can select radio stations by name, place, or genre. The audio signal
broadcasts continuously as users surf other stations, sites, or works on other
applications like Word, or Excel. The company's mission is to become one of
the most informative, entertaining and interactive audio sites on the
Internet - A Full Service Audio Portal to the World.
Magnum Ventures, Inc.
Symbol: MGVN - Pink Sheets
Cusip: 55972-V-109
Recent Price: $4 3/8 (4/29/99)
Shares Outstanding: ~ 10 million
Float: ~ 2.2 million
Magnum Ventures, Inc.,
#325-48 Broad Street Red Bank,
New Jersey,
USA 07701
e-mail: profit@radiotower.com;
URL: radiotower.com
CONTACT: Magnum Ventures Inc.
Investor Relations: Kevin Brawley
E-Mail: kbrawley@radiotower.com
Toll Free: 1-877-454-0385
GROWING MARKET NICHE:
20 million people currently listen to Internet audio. The market is expected
to more than double by year 2000. Higher bandwidth and greater PC
penetration will fuel additional growth. Quality, choices, and reach of
internet radio will also increase. Much sooner than any of us expect,
listening to internet audio will be as commonplace as turning on the
radio.
EARLY ENTRY ADVANTAGE / SOLID MARKET PRESENCE:
RadioTower.com launched its service June 9, 1996. The company is a
pioneer within the industry, developing one of the first web sites with a live
audio directory. The company has in depth knowledge of internet and
internet audio. The company has a fully developed web site
(http://www.radiotower.com ), regular users, site recognition, and
strategic alliances with important industry players. Before 1999,
RadioTower.com had no marketing budget and already 20,000 registered
users. The user base has developed from word of mouth, high listings on all
major search engines, and links from 1000s of other sites. The site has also
received numerous favorable reviews from the L.A. Times, HotWired, and
the Vancouver Sun. RadioTower.com's awards include Yahoo Picks and
Windows Magazine Site of the Day.
MULTIPLE MARKETING OPPORTUNITIES AND REVENUE SOURCES:
Radiotower has licensing agreements and affiliations with a variety of
e-commerce companies and content providers. The company markets a
range of e-commerce products such as CDs, videos, and books that are
targeted at specific audiences. Current/Recent advertisers include Rolling Stone
Magazine, Gillette, and credit card companies. E-commerce partnerships
have already been initiated with: Music Previews, Audio Book Club, Beyond.com,
IQ (audio software), and Wall Street Journal. Specific RadioTower.com
pages can be targeted at particular audiences. For instance, business and
financial news radio listeners will be offered subscriptions to Wall Street
Journal Online and see targeted financial/investment banner ads. Online
advertising was a $1 billion enterprise in 1997 and will grow to over $15
billion in 2003. E-commerce is projected to grow from $8 billion in 1998 to
$327 billion in 2003.
There are 30,000 radio stations in the world. 6,000 of these stations have
web sites and 1,500 of these webcast their audio signal. Radiotower is
developing multiple services to offer these radio stations including audio
hosting capabilities for stations which are not currently webcasting and
e-commerce capabilities. There are a great deal of opportunities
for RadioTower.com in this arena.
ATTRACTIVE ACQUISITION TARGET BY MAJOR PORTAL:
The demand for web sites within this niche is proven. For example,
Broadcast.com, a similar web site, broadcasts 385 radio stations.
Radiotower.com broadcasts 854 stations. Broadcast.com will be acquired by
Yahoo and currently trades around $128.00 per share with a market
capitalization of approximately $4.4 billion. With expected increases in
bandwidth, non-text content (audio and video) are prime assets. The major
portals are very interested in adding to their text dominated content with
audio as demonstrated by the bidding war that took place for Broadcast.com.
FUTURE PRODUCTS AND SERVICES:
The site and new services are constantly under development. The company
is working to create more powerful software and initiate additional
partnerships with content providers and other internet sites. The site is
adding services and content to create a much more useful, entertaining,
dynamic site.
The company will soon offer:
· Highly targeted rich media ads (audio banners)
· Customizable one-click access to an array of pre-selected audio reports.
· "Playing Now" feature - Information about song and artist currently playing
· Relevant links and one-click album purchase
· Internet audio hosting services
· Advanced search, customization and interactivity.
· Business radio listeners will get one-click access to stock information and
business links
· Customized local versions that will include local news, weather, and traffic.
· Ways for visitors to rate content and interact with other users.
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