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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CONTACT:
Sue Veres Royal
(202) 302-6703
[email protected]
SOURCE: BeBop Channel Corporation