SYDNEY, AUSTRALIA--(Marketwired - Nov 25, 2015) - MOKO Social Media Limited (NASDAQ: MOKO) (ASX: MKB) announces that its political commentary platform, Blue Nation Review, will be sold to True Blue Media, LLC, a newly-formed company currently wholly owned by David Brock, founder of Media Matters, a U.S. progressive-based research and information center.
Media Matters was founded in 2004 by David Brock, who also founded the Super PACs "Correct the Record" and "American Bridge". Hillary Clinton advised Media Matters in its early stages out of a belief that progressives should follow conservatives in forming think tanks and advocacy groups to support their political goals. According to the New York Times, Media Matters "helped lay the groundwork" for Hillary Clinton's 2016 presidential campaign.
All Blue Nation Review employees and assets will transfer over to True Blue Media under the strategic editorial vision of BNR Editor-at-Large Jimmy Williams. The terms of the transaction grant MOKO a 20% equity stake in the True Blue Media, with David Brock holding the 80% equity balance.
MOKO Social Media Chairman, Greg McCann, said, "We are very happy with this transaction as the new company will be better able to grow BNR's influence and our retained equity holding will provide MOKO with a valuable upside opportunity."
The sale is the result of a strategic decision by MOKO to focus on MOKO's core student division, as announced in the Chairman's Annual Review on September 30, 2015.
About MOKO SOCIAL MEDIA Limited
MOKO Social Media is at the forefront of the next generation in social media, providing innovative products and content to enable communities to engage and interact. MOKO provides tailored content for high value, niche user groups including students, political supporters and active lifestyle participants: communities that share common interests and need to engage regularly and efficiently. Within its student space, MOKO is a mobile leading U.S. college intramural and recreational sports platform. Agreements with the largest college and high school sports data providers in the U.S. grant MOKO exclusive access to provide its award-winning app REC*IT, and BigTeams powered by REC*IT, to over 1,100 U.S. colleges, representing approximately 50% of the U.S. college population, and to over 4,400 U.S. high schools respectively.
MOKO aims to capture its target audiences by becoming their destination of choice for information and interaction. It does this by creating highly relevant and exclusive content, and by providing the platforms that enable the communities to consume and share the content seamlessly across devices. This integrated approach gives MOKO unique and exclusive exposure to markets that are highly desired by advertisers and that can be leveraged for growth and revenue through advertising, sponsorship, social network distribution and other monetization of the platforms.
This announcement is for informational purposes only and is neither an offer to sell nor an offer to buy any securities, or a recommendation as to whether investors should buy or sell.
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