--(www.USEquityNews.com)-- 07/02/2008 - Broadcasting industry alert provided by U.S. Equity News. FlyTunes announced that Entercom Communications Corp. (NYSE: ETM), one of the top 5 radio broadcasting groups in the U.S., has joined the FlyTunes content network. Starting immediately with its affiliates in San Francisco (KOIT - KDFC - KBWF) and Seattle (KNDD - KMTT - KISW - KKWF), Entercom stations will be available in the new "Cities" section of the FlyTunes Guide. Additional stations in other Entercom markets will roll out on FlyTunes over the next 90 days. The FlyTunes network is the first content network specifically designed to deliver radio, video and podcasts to smart phones such as the Apple iPhone. The network has experienced explosive growth in users and in content offerings since its launch in January 2008.
SIRIUS Satellite Radio (NASDAQ: SIRI) will launch ABBA Radio, an exclusive channel dedicated to international pop supergroup, ABBA. ABBA Radio will debut on Monday, July 7 at 6 pm ET on SIRIUS channel 3 in celebration of the upcoming release of MAMMA MIA! The Movie. Meryl Streep leads an all-star cast in the feature-film adaptation of the beloved stage musical seen by more than 30 million people in 160 cities and 8 languages around the world. MAMMA MIA! The Movie opens in theaters in the U.S. on July 18, 2008. ABBA Radio will broadcast ABBA music 24/7 for two weeks and will feature all the hits originally performed by the group. The channel will also feature tracks from the original cast recording of the hit stage musical phenomenon, MAMMA MIA!. In addition, SIRIUS listeners will hear two-time Academy Award(R)-winning actress Meryl Streep, Pierce Brosnan, and Colin Firth sing ABBA songs on the soundtrack to MAMMA MIA! The Movie, to be released by DECCA on July 8, 2008.
WORLDSPACE(R) Satellite Radio (NASDAQ: WRSP), one of the world leaders in satellite-based digital radio services, announced recently that it has agreed with each of the four holders of the Company's amended and restated secured notes (the "Bridge Loan Notes") and second amended and restated convertible notes (the "Convertible Notes") to defer until July 9, 2008 the Company's obligation to pay $19.86 million in principal amount of the Bridge Loan Notes including accrued but unpaid interest due on the Bridge Loan Notes and Convertible Notes that was scheduled to be paid on June 30, 2008. In connection with this agreed deferral, each of the note holders will receive a pro rata portion of an aggregate of 1.5 million new Company warrants exercisable for shares of the Class A Common Stock of the Company. The warrants will be exercisable at $1.55 per share, and will be exercisable for a 5 year period from the date of issuance. WORLDSPACE has further agreed to grant registration rights reasonably acceptable to the holders with respect to the shares underlying these new warrants, which will have identical terms to the warrants that were issued to the holders on June 13, 2008 in connection with the previously announced deferral agreement.
247MGI, Inc. (OTC: TOFS) is pleased to announce it has been working to help resolve pending and past legal actions against the company. The Company is pleased to announce the pending issue with Dr. Martin Peskin has been resolved and a settlement agreement has been entered into and filed with the courts. The Company currently does not have any pending legal actions at this time and is working to resolve matters resulting from a prior Stock Purchase Agreement the Company entered into in 2003 to avoid any further legal action. With no pending legal actions 247MGI has been in talks with several candidates to join the Company as Officers and Directors.
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