United Consortium Ltd., Files with FINRA to Effect a 1,000-1 Reverse Stock Split
March 04 2010 - 1:10PM
Business Wire
United Consortium Ltd. (OTC:UCSO), announced that it has filed
to effect a 1,000-1 reverse stock split. UCSO believes that the
reverse stock split will be a step towards bringing the Company’s
capitalization to a more manageable number and to preserve an
orderly market for its securities. The timing of the reverse split
is subject to FINRA approval. The company will continue to notify
the market as to timing.
United Consortium Ltd. is a newly formed entertainment company,
has acquired a collection of 20,000 of the greatest pop, jazz and
classical tracks of all time, from artists such as Frank Sinatra,
Peggy Lee, Lena Horne, Sarah Vaughn, Benny Goodman, Lionel Hampton,
Duke Ellington, Glenn Miller, Hank Williams, Jr., Dolly Parton, The
London Pops Orchestra and The Royal Philharmonic Orchestra, to name
a few.
The company purchased the catalogues of Hindsight Records,
Stradivari, Otelo, Michele, Tinseltown and Kielbasa with a
combination of cash and stock from Hindsight Records. Inc. The
company plans to license the titles to music distributors and
advertisers as the first step toward becoming a full-service
entertainment firm that will provide development in catalog, film,
new artists and new media.
United Consortium has named Marc Offenbach, a former senior
marketing executive at Sony Music, as president. Offenbach has more
than 30 years experience in the music industry. He has spearheaded
marketing and sales campaigns for Academy Award winning film
soundtracks such as Titanic, Star Wars, and Shakespeare in Love, as
well as artists such as Tony Bennett, Bob Dylan, Barbra
Streisand, Neil Diamond, Maxwell, MGMT, Adele, The Fray, and
Harry Connick, Jr.
United Consortium will offer artists, managers and copyright
holders an alternative to the corporate business model by providing
them with a home where they can freely flow their interests through
the wide universe of entertainment distribution.
“The entertainment industry is going through radical changes,
and many artists, managers and copyright holders are moving away
from big corporations and seeking alternatives ways to identify the
right marketing strategies for their interests,” said Offenbach.
“I’m excited to be part of a new venture where the fundamental part
of our business will be to focus on helping identify partners that
will present our artists’ content in its best light.”
United Consortium (CE) (USOTC:UCSO)
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