ZoomerMedia Limited Announces Acquisition of On The Bay Magazine Inc.

Print
| Source: ZoomerMedia Limited

TORONTO, Aug. 31, 2017 (GLOBE NEWSWIRE) -- ZoomerMedia Limited (TSXV:ZUM) ("ZoomerMedia") is pleased to announce that it has acquired a controlling interest in On The Bay Magazine Inc. (“On The Bay”) effective August 31, 2017, for $643,000 in cash.

On The Bay is a regional lifestyle magazine published quarterly for the 20 towns and villages of Southern Georgian Bay. It is the preeminent magazine publication in the region with 50,000 readers and 300 advertisers, and has become an authoritative media voice in the area.

Included in its radio properties, ZoomerMedia owns and operates CFMO-FM – The New Classical 102.9FM out of Collingwood, the only all-classical radio station in the region, reaching listeners throughout Southern Georgian Bay, including Barrie, Owen Sound, Midland, Orillia, and much of central Ontario.

“Combined, On The Bay and The New Classical 102.9FM will strengthen each other’s respective operations in the marketplace for readers, listeners and advertisers,” said Moses Znaimer, Founder and CEO, ZoomerMedia Limited.

Jeff Shearer, Founder of On The Bay, will continue as Publisher of the magazine in addition to assuming duties as General Manager of The New Classical 102.9FM. “I’m truly excited by the potential synergies between our two like-minded quality-driven local voices to not only work well together but to grow both in audiences and advertising support as they become an even stronger media force in Southern Georgian Bay,” stated Mr. Shearer.

About ZoomerMedia Limited.

ZoomerMedia is a multimedia company that serves the 45plus “Zoomer” demographic through television, radio, magazine, internet and trade shows. ZoomerMedia’s television properties include; Vision TV, Canada’s only multi-faith specialty television service; ONE: Get Fit, offering programs on exercise, meditation, yoga, natural health and living a planet-friendly lifestyle; JoyTV in Vancouver, Victoria, Surrey and the Fraser Valley, and HOPETV, a lifestyle television service out of Winnipeg devoted to broadcasting Christian programming and is available in approximately 6 million Canadian homes. ZoomerMedia’s radio properties include CFMZ-FM Toronto – The New Classical 96.3FM, CFMX-FM Cobourg – The New Classical 103.1FM, CFMO-FM – Collingwood – The New Classical 102.9FM, Canada’s only commercial classical music radio stations serving the Greater Toronto Area (GTA), eastern Ontario and Collingwood, CFZM-AM 740 Toronto and CFZM-FM 96.7FM Toronto – Zoomer Radio, Toronto’s “Timeless Hits” Station. ZoomerMedia also publishes ZOOMER Magazine, the largest paid circulation magazine in Canada for the mature market. ZoomerMedia is Canada’s leading provider of online content targeting the 45plus age group through many properties, the key one being www.EverythingZoomer.com. ZoomerMedia also has trade show and conference divisions that produce the ZoomerShows, annual consumer shows directed to the Zoomer demographic and ideaCity, an annual Canadian conference also known as 'Canada's Premiere Meeting of the Minds'.

Cautionary note on forward looking statements

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Certain statements made in this report are ‘forward-looking statements’ which may include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words ‘believe’, ‘anticipate’, ‘expect’, ‘estimate’, ‘project’, ‘will be’, ‘will continue’, ‘will likely result’ or similar words or phrases. Forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in filings by ZoomerMedia Limited with provincial securities commissions. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.  Such risks, uncertainties and other factors include, but are not limited to, the following:

  • the risks inherent in magazine publishing;
  • the risks inherent in the operation of Internet media properties;
  • the risks inherent in the operation of television broadcast properties;
  • the risks inherent in the operation of radio broadcast properties;
  • the risks inherent in the operations of affinity partners with respect to royalty revenue;
  • the risks inherent in the operation of consumer shows generally,
  • the competition within the media industry for the baby boomer generation’s business; 
  • the risks associated with governmental regulation of the publishing, internet, radio broadcasting and television broadcasting businesses;  
  • the results of legal claims made by or against the Company; 
  • the dependence of the business on the continuing operation of its computer systems; and
  • the dependence of the business on key personnel.

Given these risks, and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.  ZoomerMedia Limited does not intend and does not assume any obligation to update these forward-looking statements.

For further information please contact:

David Vickers
Chief Financial Officer
ZoomerMedia Limited
+1 416-607-7704
d.vickers@zoomermedia.ca

Leanne Wright
Vice President Communications
ZoomerMedia Limited
+1 416-886-6873
leanne@zoomer.ca