MOUNT KISCO, N.Y., March 15, 2023 /PRNewswire/ — All For One Media Corp. (OTC-PINK: AFOM) (“All For One Media”, “AFOM”, or the “Company”) and All Entertainment Media Group, Inc. (AEMG) today jointly announced an agreement to combine businesses through an acquisition of AEMG and corporate restructuring. AEMG’s PODS Entertainment Group podcast and media entertainment business will continue as a subsidiary of AFOM in a major expansion by AFOM into podcasting and streaming media.
PODS Entertainment Group (which is ranked among the top 3% of the world’s business podcasts), will provide the combined companies the immediate ability to enhance the already-impressive capabilities of creating, launching, and marketing entertainment-based content. “PODS gives athletes and entertainers a collaborative space to make their voices heard,” said CEO Jeffrey Burton. “The combination of our companies will allow us to build on the efforts of AFOM which through the acquisition will expand into podcasts and streaming media.”
Brandon Steiner, legendary entrepreneur, famed sports marketer, author, media personality, and founder and CEO of CollectibleXchange and the Steiner Agency said, “AEMG has proven it’s passion for promoting and securing athlete/celebrity talent for PODS.” Mr. Steiner added, “This combination is great for both companies. We look forward to utilizing our extensive roster of sports and media personalities to leverage their expertise, connections, and talent in building a broader base of broadcasters, advertisers, and listeners.”
Brian Lukow, founder CEO of AFOM, continued, “I’m very excited about the opportunity to work with AEMG. They have demonstrated their ability to generate over $2 million in annual revenues with strong growth prospects and expand their reach in content creation. We recognize many natural synergies between both companies that we will look to expand on. I believe the companies can achieve great success together.”
Todd Napolitano, President of AEMG, added, “We look forward to increased visibility as a publicly traded company and believe we can attract and retain a strong roster of users and participants with expanded reach into media outlets. I look forward to building a world-class organization together with Brian Lukow, the founder of AFOM.”
Mr. Steiner has agreed to serve as an independent director of the combined companies, with Jeff Burton and Todd Napolitano, founders of AEMG, and Brian Lukow, CEO and founder of AFOM.
Closing of the acquisition is subject to the satisfactory completion of due diligence by the parties and the satisfaction of various terms and conditions customary for a transaction of this nature. Under the terms of the Letter of Intent executed by the parties, the closing is subject to the execution of definitive documents, and cancellation or exchange of outstanding convertible debt, notes, and related party debt immediately prior to closing into shares of Series B Preferred Stock of AFOM with a fixed conversion price. In addition, each share of AFOM common stock outstanding immediately prior to closing shall represent approximately 2,667 shares of common stock immediately prior to the closing (or approximately 3,000,000 shares of common stock) and shareholders of AEMG will be issued 7,000,000 shares of common stock as the purchase price.
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, besides those of historical fact, contained in this press release are forward-looking. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on All For One Media’s and All Entertainment Media Group, Inc.’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions about future events that may not prove accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Annual Report on Form 10-K of All For One Media, Inc. filed with the Securities and Exchange Commission on December 29, 2022, and other filings and reports with the SEC. Forward-looking statements contained in this announcement are made as of this date, and All For One Media, Inc. undertakes no duty to update such information except as required under applicable law
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Contact: Brian Lukow
Phone: 914 574-6174
Email: [email protected]
SOURCE All Entertainment Media Group
Originally published at https://www.prnewswire.com/news-releases/all-for-one-media-to-join-forces-with-all-entertainment-media-group-in-major-expansion-of-media-and-entertainment-business-301773467.html
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