--(www.USEquityNews.com)-- 06/03/2008 - Broadcasting industry alert provided by U.S. Equity News. 247MGI, Inc. (OTC: TOFS) ("247MGI") is pleased to announce that a substantial shareholder of the Company has agreed to send back to the Company 40 million shares of common stock to be canceled for Preferred shares in the Company. 247MGI has been working on this transaction for awhile and expects the certificates back in its possession within the next couple of weeks. When the 340 million share of common stock are canceled the number of outstanding shares will be 59 million, a big enough reduction for the Company to move forward with its planned reduction of the Authorized shares to 90 million. 247MGI is placing a Paypal link on its website to raise money to send calling cards to our troops. Please donate whatever you can so our men and women of the military can do what we do everyday, call home!
Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) announced today that its President and CEO, Perry Sook, will participate in the "TV Stations" panel discussion at the Deutsche Bank Media & Telecommunications Conference at 10:10 a.m. EDT on Tuesday, June 10th, 2008. Management will also meet with institutional investors at the conference which will be held at The New York Palace Hotel in New York City. Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to 50 television stations in 29 markets in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York.
Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) announced today that they have reached agreement with Insight Communications on a three-year extension of their existing analog and digital carriage agreement. The extension, which relates to four stations in three markets where Sinclair and Insight overlap, covers the period of January 1, 2009 to December 31, 2011. Although Sinclair does not disclose the dollar amount of consideration received from individual multi-channel video program distributors, such as Insight, Sinclair believes this extension, which provides Insight with certain VOD (video on demand) rights, but which does not include an advertising component, reflects an appropriate economic arrangement. Barry Faber, Sinclair's Executive Vice President and General Counsel, commented, "We applaud Insight's continued recognition of the changing landscape for retransmission consent agreements and their far-sighted willingness to serve their subscribers by entering into this extension.
Rentrak Corporation (NASDAQ: RENT) today announced it has entered into a multi-year deal with 68-year telecommunications company veteran, Hargray Communications. Headquartered in Hilton Head Island, South Carolina, the company's operations include traditional telephone carrier services, as well as cable television, wireless telephone, internet services and a telephone directory publishing operation. Hargray Communications joins Rentrak's notable list of more than 27 multiple system operators (MSOs) including: Bresnan, Cablevision, Charter, Comcast, Cox Communications, Insight Communications, Time Warner Cable, Suddenlink, Verizon FiOS and WOW.
About U.S. Equity News
U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.
U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com.
