ORLANDO, Fla., June 25, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has initiated coverage on Legend Media, Inc. (OTCBB:LEGE), a first-mover planning to develop a broad advertising network to capitalize on China's emerging consumer culture.
Gaurav Aggarwal, MBA, RedChip Research Analyst, reported:
"LEGE is continuously acquiring exclusive rights to sell advertisement spots, or ad space, for a large number of radio stations throughout China and has successfully established strong relationships with radio broadcasting networks and leading advertising agencies in China that will provide access to key sales outlets and additional advertising assets.
"We believe if LEGE is able to successfully consummate its business plans, it could potentially offer China's largest portfolio of commercial radio time slots, market research, and key advertising agency relationships. The Company is refining its business strategy to grow, both organically into new cities and provinces as well as through the acquisition of existing smaller businesses in other Chinese provinces," he continued.
"We are initiating coverage of LEGE with a 'Speculative Buy' rating and a 12-month target price of $6.10," Aggarwal concluded.
To receive a complimentary copy of the RedChip Visibility Initial Research Report for LEGE, please visit:
http://www.redchip.com/visibility/about.asp?page=vreport&reportid=118&from=06252008pr
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Disclosure
None of the profiles issued by RedChip Companies constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. Any investor should determine whether a particular security is suitable based on the investor's objectives, other securities holdings, financial situation needs, and tax status. Legend Media, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., $36,000 for RedChip Visibility Program services, which included the preparation of this equity research report. RedChip Companies is currently engaged by this company to provide investor relations services. Legend Media agreed to pay RedChip Companies, Inc. a fee of $7,500 in cash per month and 150,000 shares of common stock under Rule 144 for twelve (12) of these services. RedChip Companies, Inc. employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. To the fullest extent permissible under applicable law, RedChip Companies, Inc. will not be liable to you or anyone else for the quality, accuracy, completeness, reliability, or timeliness of this information.