TORONTO, ON., March 31, 2020 – Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT) (“MediaCentral” or the “Company”) is pleased to announce the engagement of Lightheart Management Partners Inc. (“LMP”) of Vancouver, BC to support the Company’s corporate development strategy, as it takes next steps to consolidate the 100 million strong consumers of alternative urban publications across North America.
Under the engagement, LMP will focus on the identification and qualification and financial modelling of alternative urban weeklies throughout North America for acquisition by MediaCentral. LMP brings a wealth of experience in identifying and funding value added businesses for acquisition through their finance and advisory channels, and as a private family wealth manager. In February of this year, as previously announced (press release titled: Media Central Corp Inc. Completes Purchase of Vancouver’s Iconic Georgia Straight), LMP advised MediaCentral on its acquisition of the Vancouver Free Press, publisher of the venerable 53 year-old The Georgia Straight which follows MediaCentral’s November 2019 purchase of Toronto’s storied NOW Magazine and its September 2019 launch of Canncentral.com, it’s all things cannabis publication.
“We look forward to working with Lightheart as we continue to build on our strategy to consolidate the 100 million strong readers of urban publications, digitize them, and monetize them.” said MediaCentral CEO Brian Kalish. “We have accomplished a lot in just a few short months and with the addition of more quality titles in the urban alternative publishing market, we will continue to convert and expand our digital reach, taking advantage of the $300 billion digital ad market.”
Over the coming months, the potential that the MediaCentral business model represents for its readers, advertisers and shareholders will be reinforced further as it moves towards the next phase of its: capture, convert and monetization strategy.
“We are pleased to be working with MediaCentral. The company and its management team have clearly demonstrated an ability to identify, assess and acquire valuable media properties,” said Wei Lin, Founding Partner at Lightheart. “It is our view that there is significant opportunity to consolidate and monetize an important and influential segment of the media market in North America and we look forward to being part of the MediaCentral strategy.”
This originally appeared on https://www.prnewswire.com.
