Broadcast Media & Journalism Inc. (OTC:CBMJ) Stock Surges 13%: What’s the Buzz?
The media space has diversified in a massive way over the course of the past decade or so, and investors are increasingly looking for options to cash in on companies that may grow in the long term. One of the companies in the media space that came into focus among investors in a big way on Wednesday was Conservative Broadcast Media & Journalism Inc. (OTC:CBMJ).
Following a key announcement from the company, its stock went on a strong rally and ended up with gains of as much as 13% amidst strong interest. Yesterday, Conservative Broadcast Media came into focus after it announced that it had completed the acquisition of American Media Periscope for a sum of $2.2 million. The company noted in its press release that the acquisition of the two entities would lead to the combination of two powerful ‘new media’ companies in the world of Patriot Media.
The company announced that it would issue a non-interest-bearing note worth $2 million for the transaction, which would be payable over a period of four years. Additionally, the company also issued 2 million shares of its restricted common stock. In this context, it could be a good move for investors to take a closer look at the actual acquisition. AMP NEWS is focused on providing its audience with information that is as straightforward as it possibly can be. It considers all genres of news vital. Hence, it offers the full gamut of news stories, from political and educational news to medical and financial news.
The news stories are analyzed meticulously and then provided to the viewers with the aim of letting them think and reach their own conclusions. The Chief Executive Officer of Conservative Broadcast Media, Mark Schaftlein, spoke about the acquisition as well. He noted that everyone at the company was delighted at the transaction and welcomed the opportunity to build a company geared towards Patriot Media. He went on to state that through the combination, the company would be able to exploit each other’s strengths while making operations more efficient.
The announcement with regards to the acquisition was made by Conservative Broadcast Media on August 31. At the time, it was revealed that it would acquire APM News in a deal worth $2.25 million. In that news release, the company also revealed the rationale behind the acquisition. It would help the company generate as much as $3,000,000 in the form of extra revenues for the 2023 financial year.
In its news release, the company claimed that the mainstream media, along with fact-checkers, had been suppressing information from all Americans. However, organizations like APM News and Conservative Broadcast Media were at the forefront of the fight for freedom of speech and the freedom of the press. In this context, the company noted at the time that a Director of Conservative Broadcast Media, Floyd Brown, held the reputation of growing strong conservative media companies. He is credited with having built the digital new publication, The Western Journal.
