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MediaBay Hires Merchant Bank to Tap Strategic Partners
MediaBay (Nasdaq: MBAY) in Cedar Knolls has retained merchant bank MediaTech Capital Partners to help it plan its next move.
"To accelerate the company's distribution in the global wireless marketplace our board of directors has authorized management to implement an acquisition program," said Jeff Dittus, CEO. "As part of this strategy, the company will also evaluate seeking strategic partners that can assist with this strategy and lower our execution risk."
MediaBay produces spoken-word audio collections like audio books and radio programs. The company wants to speed up the distribution of its content to wireless markets in a bid to piggyback on the popularity of mobile phones with entertainment functions like video and music playback.
The company’s audio collections are currently available online for downloading. Shares of MediaBay were up $0.02 to $0.92 in morning trading. - Joao-Pierre Ruth
MediaBay Hires Merchant Bank to Tap Strategic Partners
MediaBay (Nasdaq: MBAY) in Cedar Knolls has retained merchant bank MediaTech Capital Partners to help it plan its next move.
"To accelerate the company's distribution in the global wireless marketplace our board of directors has authorized management to implement an acquisition program," said Jeff Dittus, CEO. "As part of this strategy, the company will also evaluate seeking strategic partners that can assist with this strategy and lower our execution risk."
MediaBay produces spoken-word audio collections like audio books and radio programs. The company wants to speed up the distribution of its content to wireless markets in a bid to piggyback on the popularity of mobile phones with entertainment functions like video and music playback.
The company’s audio collections are currently available online for downloading. Shares of MediaBay were up $0.02 to $0.92 in morning trading. - Joao-Pierre Ruth
posted by Jones Lang LaSalle NJ News Blog at 10:30 AM
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