NEW YORK, NY / ACCESSWIRE / February 16, 2023 / The BeBop Channel Corporation (OTC PINK:BBOP), in line with its expansion plans, has acquired Madavor Media, LLC, publisher of one of the most iconic Jazz magazines in the world, JazzTimes. The deal also includes Outdoor Photographer, the Women Create brands and other niche media properties in Madavor's stable, vastly increasing BeBop's revenue by about 1,800%, or over $6 million, according to its regulatory filing.
BeBop, headed by Interim CEO, former Duke Ellington Orchestra musician/educator Gregory Charles Royal and non-profit executive Sue Veres Royal, has a mission to create an arts hub for artists in the areas of Jazz, Dance, Theatre and Film as the first publicly traded company dedicated to such a mission.
"We are truly grateful to Zilpin Group, LLC for having the confidence in us to hand off the baton to truly help take JazzTimes and the other magazines to the next expansive chapter", says Royal.
BeBop, previously headed by renowned DC journalist Steve Clemons, now editor at-large at Semafor, was instrumental in getting the company to this point, having secured early advertising from Philip Morris International (PM) with the goal of making BeBop the "HuffPost for the Arts."
To that end and to execute the expansion, BeBop, now the parent company of Madavor, its wholly-owned subsidiary, has plans to expand the experience of loyal readers and advertisers to embrace live and streaming video programming and events sprouting from Madavor's brands, including JazzTimes.
Royal said: "We want to entertain with programming that goes beyond just documentaries, but with an array of video and scripted television and events to provide readers with a hangout and provide arts advertisers with the value
proposition to reach audiences throughout BeBop's ecosystem."
There currently exists no commercial television station dedicated to Jazz, Dance and Theatre advertisers or audiences in the United States.
Moreover, and consistent with BeBop's theme as "the Global City for the Arts," where "Artistry Knows No Borders," the company seeks to transition arts and enthusiast patrons into investors who potentially profit from the arts, not just donate to it.
The company currently has over 700 shareholders of record and trades at about $1.00 per share for an $8.7 million market cap prior to this acquisition on about $350,000 revenue in 2022.
"We look forward to this journey to disrupt the way the arts are viewed, into the multi-billion dollar global industry it actually is, so buckle up," said Royal.
Website: beboptv.com
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Forward-Looking Statements
Certain information set forth in this press release contains "forward-looking statements", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to statements of future partnerships.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties.
Although forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
CONTACT:
Sue Veres Royal
(202) 302-6703
submit@beboptv.com
SOURCE: BeBop Channel Corporation
View source version on accesswire.com:https://www.accesswire.com/739564/BeBop-Acquires-Madavor-Media--JazzTimes-Outdoor-Photographer-and-Other-Leading-Media-Properties
