ORLANDO, Fla., June 17, 2008 (PRIME NEWSWIRE) -- Emerging Media Holdings (OTCBB:EMDH) announced today that it has signed an agreement to acquire WAY MEDIA, LTD., one of the five top Romanian outdoor advertising companies with a developed network in over more than 22 cities.
Established in 1999, WAY MEDIA LTD. offers the planning and production of high quality outdoor advertising strategies, as well as installation and maintenance throughout the country of Romania.
"We are extremely pleased with the implications that this acquisition has for our business model. The potential for growth in the outdoor advertising market in the region is tremendous, and we are excited to welcome a company with the reputation that WAY MEDIA has to our team," stated Renauld Williams, President of Emerging Media Holdings. The acquisition is expected to close on or before August 15, 2008.
About Emerging Media Holdings:
Emerging Media Holdings Inc. is the U.S. parent company for Media Alianta and Analiticmedia-Grup (AMG) subsidiaries. EMH's primary activities are radio and television broadcasting EMH's subsidiary AMG is the market leader in Republic of Moldova as a company in television advertising and production of its own TV shows.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this report reflect the good faith judgment of our management and the statements are based on facts and factors as we currently know them. Forward- looking statements are subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. We undertake no obligation to revise or update any forward- looking statements in order to reflect any event or circumstance that may arise after the date of the press release. Political and operational risks in the countries in which Emerging Media Holdings, Inc. may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in Emerging Media's filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2007. Copies of each filing may be obtained from Emerging Media Holdings or the S.E.C. or its web site at www.sec.gov.