Debut Broadcasting Completes Financing Agreement with River Falls Financial Services
NASHVILLE, Tenn.-(Business Wire)-September 28, 2009 - Debut Broadcasting Corporation, Inc.™ (OTC BB: DBTB), a media and entertainment company, today announced completion of a $1.5 million financing agreement with River Falls Financial Services, LLC as part of an overall restructuring of the company.
The agreement will provide capital resources to aid the company in restructuring its debt and facilitate expansion. “The acute decline in macro-economic conditions late last year has created a lot of opportunity. With River Falls as a financing partner, the company has positioned itself to emerge stronger into the economic recovery,“ said Steven Ludwig, CEO of Debut Broadcasting.
“This is a company with a clear vision and talented management team. Combined with our financial and management expertise, it now has the potential to re-capture its momentum for growth and profitability,” said Ron Heineman, of River Falls. “I look forward to serving on the board of directors.”
The company has been implementing a reorganization strategy intended to achieve profitability by the end of this year. That strategy has included cost-adjustments as well as an aggressive sales effort that has yielded several new clients. The company’s Radio syndication arm, Impact Radio Networks, acquired rights to the national Radio program Your Weekend with Jim Brickman over the Summer and launched a broad line-up of out-sourced content and services available to all US and Canadian radio stations; the Radio Station operations unit, Debut Broadcasting, recently launched three new Radio Stations in Little Rock, Ark. for Crain Media Group with an innovative new consulting strategy.
The company is also working closely with management at River Falls to evaluate and execute an expansion strategy. “There are potentially accretive acquisitions available, and we are exploring the best ways to deploy our capital,” added Ludwig.
Debut Broadcasting Corporation, Inc. will report Q3 results on or before Nov. 14, 2009.
About Debut Broadcasting Corporation, Inc.
A media and entertainment company, Debut Broadcasting Corporation, Inc. (OTC BB: DBTB) supports its clients throughout North America while also improving shareholder value through targeted turnaround opportunities in the southeastern United States. Through its entertainment arm, Impact Radio Networks, Debut sells pre-recorded radio programs and related services to more than 1,400 AM and FM stations in the U.S. and Canada, and reaches more than 45 million listeners per week, making it one of the leading syndicators in the industry. The company also provides marketing, consulting and media buying for its radio broadcast stations. Through its media division, Debut identifies and acquires (or manages) underperforming and undervalued media properties in the southeastern U.S. For more information about Debut Broadcasting, please visit www.debutbroadcasting.com or email ir@debutbroadcasting.com.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Debut Broadcasting is a trademark of Debut Broadcasting Corporation, Inc. All other trademarks are property of their respective owners.
 |
 |
 |
|
||
 |
|
 |
|
||
Search Our News Using Google Search
Can't find what you want? Try using Google:
