FT. LAUDERDALE, Fla., March 7, 2007 (PRIME NEWSWIRE) -- 247MGI, Inc. (OTCBB:TOFS) ("247MGI") announced that it has signed a Letter of Intent to acquire Business Vision Network, Inc., a six year old production company that has produced more then 25 infomercials to date.
Business Vision Network ("BVN") has already seen great success in the infomercial television shows it has produced. Two fitness infomercials are currently airing and seeing such success that they are also entering the retail market, buoyed by the success of the TV campaign. These include The Bun & Thigh Doer and the ABDOer Xtreme. Another BVN hit, the OutFront Flex Pad infomercial, is the #1 celebrity endorsed infomercial of all time, and is airing currently in the United States on The Golf Channel, as well as overseas.
Even before its foray into the Direct Response Infomercial side of the business, the management was already successful in television. In 2000, the management produced and broadcast nationwide 121 episodes of a daily television show called MoneyWatchTV, a daily television show that aired nationally on PAX TV, management also produced and broadcast Investors Weekly. Investors Weekly was a weekly financial show broadcast in the South Florida area which achieved an impressive viewer-ship of 2.2 rating points, beating all other financial shows, such as Wall Street Journal Report and This Week with Sam Donaldson and Cokie Roberts, running on the Sunday morning time slot.
At the start of the reality show sensation, MoneyWatchTV launched a national campaign to hire it's next host and generated enormous national attention with three mentions in TV Guide magazine, hundreds of newspaper articles across the country, and countless radio station interviews.
In addition to MoneyWatchTV, BVN also produced and developed other television information shows, including "Bid Watch" and "NetWatch". Reality show pilot "Treasure Hunt TV" featuring couples in search of treasure garnered much attention when it debuted at NAPTE (National Association of Programmers & Television Executives.)
Matt Dwyer, 247MGI's CEO, stated, "We are extremely excited about working with BVN and its management team. Together with John Loughlin the company will have a strong foundation for all facets of television production. The new team will work hand and hand with Wyndam Media to produce sports shows to air on The Las Vegas Television Network."
247MGI, Inc. is a full service multi media company, a one-stop media and advertising company that assists its clients by creating marketing materials utilizing technology driven media formats for the distribution of information worldwide. The company utilizes the Internet to deliver its content more efficiently and at a higher standard than its competition. 247MGI has developed and continues to create unique programs to include "LIVE" as well as streaming video content which will be delivered through the web, cable and via satellite.
This media release may contain forward-looking statements regarding but not limited to management, market potential, distributor success, market size, international sales, including statements regarding the intent, belief or current expectations of 247MGI, Inc. and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could change actual results. Investors should refer to factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.