Mood Media Liquidation Part Une

Adrian J Cotterill, Editor-in-Chief

Mood Media Wednesday announced that it was to sell its retail point-of-purchases assets to Somerset Group, Ltd., a subsidiary of Allegro Corporation, dba Allegro Media Group.

house-of-cardsIn the press release, whilst Allegro Corporation was described as. we quote “one of the premier independent media companies in North America with a leading catalog of music and video titles across a broad range of genres” they look to us at least, rather like a small company.

The definitive agreement is to sell a substantial majority of the retail point-of-purchase assets of Mood Media Corporation (ISIN: CA61534J1057) (TSX:MM / LSE AIM:MM) subsidiaries, Mood Media Entertainment Ltd. and Mood Entertainment Inc.

We can’t think that they (Mood) got any real money for the deal as they didn’t quote a deal price (and we’d assume that legally they should if it was a ‘Material’ transaction).

Mood have an earnings call Thursday and we bet that ‘pan pipes’ wil feature heavily on the call itself.

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