SALE WILL CONTINUE REPOSITIONING MADISON FOR CONTENT FOCUS AND BUILDOUT OF THE BLOCKCHAIN.TV NETWORK
NEW YORK, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Madison Technologies, Inc., (OTC: MDEX) (the "Company") today announced the signing of non-binding letters of intent to sell both KNLA/KNET- CD Los Angeles and KVVV-LD Houston. While terms were not disclosed, the company indicated that the sales prices were higher than the 2022 acquisition prices with all net proceeds to be used to pay down debt the company incurred when making the acquisitions. The sales mark Madison's ongoing push into television production as it greenlights plans to offer unique content for its Network and Streaming service, BLOCKCHAIN.TV.
BLOCKCHAIN.TV ("BCTV") is a broadcast and streaming network that focuses on everything Blockchain, including crypto, nft, web 3 and metaverse and the thriving youth culture it inspires. It will be seen across the country and globally on most all platforms including broadcast and cable television, all social media avenues and of course ultimately streaming on the company's website and app, live 24/7 and on demand. BCTV plans to air original content as well as content from third parties with an anticipated launch in late first quarter early second 2023.
The Company's recent acquisition of "The Jay & Tony Show" will enhance the network with original content while also continuing its core business of developing and producing innovative and disruptive programming for third-party networks and platforms, while both creating and aggregating unique content for distribution nationwide with the ability to reach all viewers.
"We spent an awful lot of time analyzing the move into content," said Philip Falcone, Founder and CEO of Madison Technologies, Inc. "This shift for the Company represents a sizable opportunity in an untapped part of the global media space. We believe this pivot with the Jay & Tony acquisition along with the station sales and the development of the network will enhance Madison's value for shareholders and improve our access to capital." The Company already has one of its shows "Daily Drop" airing on Canadian broadcast and cable tv channels.
Sovryn Holdings, Inc. and it's broadcasting unit Sovryn.tv merged earlier this year with publicly traded Madison Technologies, Inc (OTC: MDEX).
About Madison Technolgies, Inc.
Madison Technologies, Inc. is a television broadcast and production company building out a broadcast and streaming network to capitalize on the growth opportunity in the blockchain space. The company's strategy is to focus on in-house proprietary content creation as well as securing third-party content for a 24/7 blockchain-only news, information, and entertainment network.
Forward-Looking Statements
Forward-looking statements and risks and uncertainties discussed in this press release may contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," "non-binding" and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, the ability to close the sale, funding and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape, or manner of our future financial condition or stock price.
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SOURCE: Madison Technologies, Inc.
Sales将继续为麦迪逊的内容重点和BLOCKCHAIN.TV网络的建设重新定位
纽约,2023年1月23日(Global Newswire)--麦迪逊技术公司(场外交易代码:Mdex)(以下简称“公司”)今天宣布签署非约束性意向书,出售KNLA/Knet-CD洛杉矶公司和KVVV-LD休斯顿公司。虽然交易条款没有披露,但该公司表示,出售价格高于2022年的收购价格,所有净收益将用于偿还公司在进行收购时产生的债务。这笔交易标志着麦迪逊正在进军电视制作领域,因为它批准了为其网络和流媒体服务BLOCKCHAIN.TV提供独特内容的计划。
BLOCKCHAIN.TV北京电视台是一家专注于区块链的广播和流媒体网络,包括密码、NFT、Web3和元宇宙及其激发的蓬勃发展的青年文化。它将在全国乃至全球几乎所有平台上观看,包括广播和有线电视,所有社交媒体渠道,当然最终还会在该公司的网站和应用程序上进行流媒体直播,全天候直播和点播。BCTV计划播出原创内容和来自第三方的内容,预计将于2023年第一季度末和第二季度初推出。
该公司最近收购的《周和Tony秀》将以原创内容加强网络,同时继续其核心业务,即为第三方网络和平台开发和制作创新和颠覆性节目,同时创建和聚合独特的内容,以便在全国范围内分发,并能够接触到所有观众。
Facebook创始人兼首席执行官菲利普·法尔科内表示:“我们花了大量时间分析这一举措,并将其转化为内容。”麦迪逊技术公司这一转变对公司来说代表着全球媒体空间中一个尚未开发的领域的巨大机遇。我们相信,通过收购Jay&Tony以及电视台销售和网络的发展,这种转向将提高麦迪逊对股东的价值,并改善我们获得资金的途径。该公司已经在加拿大广播和有线电视频道播出了一档节目《Daily Drop》。
今年早些时候,Sovryn控股公司及其广播部门Sovryn.tv与公开上市的麦迪逊技术公司(场外交易代码:Mdex)合并。
关于麦迪逊技术公司。
麦迪逊技术公司是一家电视广播和制作公司,正在建设一个广播和流媒体网络,以利用区块链领域的增长机会。该公司的战略是专注于内部专有内容创作,以及为仅限区块链的新闻、信息和娱乐网络确保第三方内容的安全。
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资料来源:*麦迪逊技术公司。