Adrian J Cotterill, Editor-in-Chief
“Mood Media Provides Market Update on Strategic Process” they say, probably just cos’ it sounds better than ‘Mood Media For Sale‘
Mood Media Corporation (ISIN: CA61534J1057) (TSX: MM) (LSE AIM: MM) at the request of IIROC, today provided an update on its strategic review process previously announced in April 2013.
Mood say that they have received non-binding expressions of interest from third parties and that they are currently in discussions with respect to a potential sale of the Company.
They also stated that while there can be no assurance that the Board’s exploration of strategic alternatives will result in any transaction being pursued, entered into or consummated, it is the Board’s intention to complete its strategic review process as soon as possible during Q3 2013.
It also stated that 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 which means even if we did know who was gonna buy them we don’t actually know, only allegedly and as Mood like suing us we’d be stupid to tell you or even hint to you that we know.
WE KNOW NOTHING.
August 15th, 2013 at 19:48 @867
Once again a case of ‘kicking the can’ down the road while making a few bucks for the hangers on (AKA ‘the advisors!). There will be a few bonuses clawed back on this one (not!) when the next reincarnation of Mood takes place!
August 16th, 2013 at 17:04 @753
They say that their average revenue per location is $50 and yet they will sell fully customized music services for less than $20. Where is the upside supposed to be for the new owners in this transaction?