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Medical Media Television, Inc. Completes Merger and Acquires African American Medical Network, Inc. PDF Print E-mail
    
Friday, 02 December 2005
Medical Media Television, Inc. Completes Merger and Acquires African American Medical Network, Inc.

TAMPA, FL, (NAMC) - Medical Media Television, Inc. ("Medical Media") (OTCBB:MMTV), a provider of advertiser-supported patient/parent/client medical education programming within the place-based media environment of medical specialty offices nationwide, announced today that it has closed the previously disclosed transaction with AFMN, Inc. through which it acquired African American Medical Network, Inc. ("African American Medical Network").

On November 16, 2005, the parties consummated the merger and filed Articles of Merger with the Florida Department of State. African American Medical Network is now a wholly-owned subsidiary of Medical Media.

Pursuant to the Merger Agreement, as amended, Medical Media issued 19,415,626 shares of its restricted common stock to AFMN, Inc. in exchange for 100% of the outstanding shares of African American Medical Network. The Company issued the shares in the name of AFMN, Inc. and deposited the shares into an escrow account pending the registration of the shares under the Securities Act of 1933. As soon as practicable, Medical Media plans to file an appropriate registration statement with the Securities and Exchange Commission to register the shares. Once the shares are registered, AFMN has agreed to distribute the shares pro-rata to its shareholders of record as of November 16, 2005.

Terms of the Merger Agreement, as amended, established the new board of directors of Medical Media as Philip M. Cohen (Chairman of the Board), J. Holt Smith, Esq., Charles V. Richardson, Randall Maxey, M.D., Bernard Kouma, and Jeffrey I. Werber, DVM to serve until December 31, 2006. Subsequently, Donald R. Mastropietro and Michael Marcovsky were also elected to serve as directors until December 31, 2006.

Medial Media currently has two operating networks: PetCARE Television Network, Inc. ("PetCARE TV") directed by its President, Bernard J. Kouma, and African American Medical Network, Inc. ("African American Medical Network") directed by its President, Robert Cambridge. Medical Media's third network, KidCARE Television Medical Network, Inc. ("KidCARE TV") will be launched in 2006. PetCARE TV's veterinary programming is currently aired in practices across the U.S., Canada, Puerto Rico, and Australia where it is viewed by over 4 million pet owners each month. African American Medical Network's patient education programming will be viewed by the patients of the more than 15,000 doctors who serve the majority of the 35 million U.S. African Americans. KidCARE TV's pediatric network will be targeted to the audience of approximately 16,000,000 parents of patients of more than 45,000 pediatricians. Medical Media plans to launch similar place-based media networks in the areas of obstetrics/gynecology and dermatology, with programming specific to each specialty.

The corporate offices of Medial Media, PetCARE TV, African American Medical Network, and KidCARE TV are located at 8406 Benjamin Road, Suite C, Tampa, Florida 33634. Questions regarding Medical Media may be addressed to Teresa J. Bray, Vice President at (813) 888-7330. Questions regarding PetCARE TV may be addressed to Bernard Kouma, President at (813) 888-7330. More information on PetCARE TV, its business model, and products can be found on its website: http://www.petcaretv.com. Questions regarding African American Medical Network may be addressed to Robert Cambridge, President, at (310) 348-8170. More information on African American Medical Network and its programming can be found on its website at http://www.africanamericanmedicalnetwork.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of Medical Media Television, Inc. Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.


 

 

Medical Media Television, Inc., Tampa
Teresa J. Bray, 813-888-7330
or
PetCARE TV
Bernard Kouma
813-888-7330
http://www.petcaretv.com
or
African American Medical Network
Robert Cambridge
310-348-8170
http://www.africanamericanmedicalnetwork.com

 

 

 

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