ATLANTA, Dec. 5, 2012 /PRNewswire/ -- Light Media (OTC
Markets: LGMH), Inspirational Media Specialist, announced today
that it has adopted a program to repurchase up to 5% of its issued
and outstanding shares, or up to 2,250,000 common shares
(hereinafter referred to as "LGMH Stock Repurchase Program").
LGMH Stock Repurchase Program permits common shares to be purchased
in open market or private transactions, through block trades,
and/or pursuant to any stock trading plan.
LGMH Stock Repurchases would be discretionary and at prices the
company considers to be attractive and in both the best interests
of Light Media and its stockholders, subject to availability of
stock, general market conditions, trading prices, alternative uses
for capital, etc. LGMH Stock Repurchase Program may be
suspended, terminated or modified at anytime for any reason,
including but not limited to market conditions, the cost of
repurchasing shares, and the availability of alternative investment
opportunities. These factors may also affect the timing and amount
of share repurchases. LGMH Stock Repurchase Program does not
obligate the company to purchase any particular number of shares,
and there is no guarantee as to the exact number of shares to be
repurchased. Any and all share repurchases which may be made from
time to time by Light Media would be noted in reports – beginning
with the 4th quarterly period ending on 12/31/2012.
"Nasdaq-listed Salem Communications CEO's March 8, 2012 earlier publicly-trumpeted dividend
strategic announcement was intriguing and inspirational. Light
Media, as the 2nd only inspirational media
asset/platform-centric, publicly-traded media company in
the United States, (the other
inspirational media conglomerate being Salem Communications),
believes that its LGMH Stock Repurchase Program may also serve as
an excellent way to increase market awareness of Light Media (core
assets, market, opportunities, etc.), while simultaneously
positively positioning for the future. Light Media remains steadily
and strategically focused as the Inspirational Media Specialist;
and there is more news to come," said Danny
Wilson, CEO, Light Media.
The following news article excerpts below are shared For Fair
Use Exception Discussion and Commentary Purposes Only: In an
October 17, 2012 financial commentary
by Morningstar Research (Alex Bryan
– Seeking Alpha) entitled "Dividends or Share Buybacks? A Taxing
Dilemma" Key excerpts from Mr. Bryan's timely and insightful
article are as follows:
- "A firm that continues to increase its dividends will be worth
less on an after-tax basis than it would be if it had retained the
cash or used it to repurchase shares. Even if some companies do not
alter their payout behavior to maximize after-tax value, investors
looking for cash distributions may be better served by firms with
healthy share-repurchase programs. However, it may be
worthwhile to give a stronger weight to share buybacks to take
advantage of their superior tax efficiency. Most important, in
contrast to a dividend where all shareholders get hit with taxes,
in a share-buyback program, only those investors who sell their
shares back to the issuer receive a cash distribution and recognize
taxes on capital gains. This makes share repurchases a more
tax-efficient method to distribute cash even when capital gains and
dividend tax rates are the same because investors can defer the tax
liability."
- "Yet, according to Ford Equity Research, companies that have
followed through on their share-repurchase commitments have
outperformed the market by a wide margin. This may be similar to
the observed outperformance of high-dividend-paying stocks. It
does this by constraining managers' capacity to engage in
value-destructive empire-building. Companies that pursue a
disciplined policy of returning capital to shareholders, regardless
of the method, may outperform precisely because they undertake
fewer marginal investments."
- To read the full above-referenced article by Mr. Alex Bryan entitled: "Dividends or Share
Buybacks? A Taxing Dilemma" click here:
http://seekingalpha.com/article/929721-dividends-or-share-buybacks-a-taxing-dilemma.
About Light Media:
Light Media (OTC Markets: LGMH), Inspirational Media Specialist,
markets, produces and distributes inspirational music, video, video
games, print media and entertainment space through its network of
radio, Internet, television, print and special events global
business platforms and marketing and alliance partners. Light
Media is also the 20th publicly-traded radio/media conglomerate
(member) of the prestigious RBR-TVBR Media Index (see:
www.RBR.com). For more information, please visit:
www.LightMediaHoldings.com; www.InvaluableMedia.com or
www.HotChristianStocks.com.
Cautionary Note Regarding Forward-Looking
Statements: This press release contains statements, which
may constitute "forward-looking statements" within the meaning of
the Securities Act of 1933 and the Securities Exchange Act of 1934,
as amended by the Private Securities Litigation Reform Act of 1995.
Those statements include statements regarding the intent, belief or
current expectations of Light Media (OTC: "LGMH") and members of
its management as well as the assumptions on which such statements
are based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements.
CONTACT:
Light Media PR
lightmedia123@gmail.com
SOURCE Light Media Holdings, Inc.