Yeahronimo Media Ventures, Inc. Completes its Acquisition of Tensleep Technologies, Inc. (OTC: TNSP)
Yeahronimo Media Ventures, Inc. Completes its Acquisition of Tensleep Technologies, Inc. (OTC: TNSP)
LOS ANGELES, March 11 /PRNewswire/ -- On the heels of announcing its new CFO and EVP Michael Koridon, Yeahronimo Media Ventures, Inc. (YMV), a leading provider of digital media, services and software, announced that the shareholders of Tensleep Technologies, Inc. approved its acquisition by YMV and has changed its name to Yeahronimo Media Ventures, Inc. effective immediately. The decision took place at a special meeting on March 7, 2005.
Approval of the Share Purchase Agreement by the shareholders of Tensleep Technologies was the last hurdle of the closing conditions and so completes the transaction. Through a previously announced share exchange between YMV and Tensleep Technologies, the prior shareholders of Tensleep Technologies will own approximately 8.6% of the combined company and the stockholders of YMV will own approximately 91.4%. The newly structured Yeahronimo Media Ventures, Inc. will announce a new ticker symbol shortly.
Consumers use YMV services to find, play, purchase and manage digital content, including music, video and games. Broadcasters, network operators, media companies and enterprises use YMV products and services to create and deliver digital media to PC's and mobile devices.
"Our objective is to become a major player for digital content and distribution," said Mike Freni, YMV's President. "This merger enhances our ability to create, package and market digital content directly to consumers, while at the same time supplying the underlying technology and business-to- business services that content owners, enterprises and ISP's need."
Founded in the Netherlands, and now headquartered in Century City, California, YMV is focused on serving the exploding market for premium on-line digital content by providing its customers with full control of the digital chain from beginning to end. Consumers can not only store content on their computer, but legally transfer them to portable multi-media players, while at the same time protecting content owners with advanced security and tracking systems.
YNV's principal revenue streams are derived from: * Multimedia download store sales * Multimedia Content Distribution services * Digital Content Creation & Production services * Media Database Distribution & Full Service Management services * Music, Video & Gaming download and streaming infrastructure development services * Media Player Equipment sales
For Yeahronimo corporate information, please visit its website at www.ymvinc.com; to download music visit its online store at www.yeahronimo.com/music. To purchase the Commodore-branded products, visit http://www.commodoreshop.com/ .
Source: Yeahronimo Media Ventures, Inc.
CONTACT: George Cabico, +1-310-248-6177, gcabico@bwr-la.com, or Heather McGuire, +1-310-248-6141, hmcguire@bwr-la.com, both for Yeahronimo Media Ventures, Inc.
Web site: http://www.commodoreshop.com/
Web site: http://www.yeahronimo.com/music
Web site: http://www.ymvinc.com/
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