Sounds 24-7 Inc (Phoenix, AZ) is in the final stages of acquiring all the assets of ItsFun.com from Nevada-based Advanced Solutions and Technologies Inc. Terms of the acquisition call for Sounds 24-7 to pay the debt accumulated by ItsFun.com. The move was approved by the board of directors and a majority Advanced Solutions and Technologies and Sounds 24-7’s stockholders.
Among the assets of ItsFun.com are the technologies associated with the selling of recordings online, including certain licenses and protocols for downloading by the public of recordings made available by record labels, artists and promoters.
The acquisition complements ideally the objectives and business plan of Sounds 24-7. The company allows thousands of authorized radio stations and club DJs to download promotional records for airplay. Sounds 24-7 assists new music to get radio play by allowing trendmakers to pull directly from a list of songs and artists that apply to their market, allowing a more streamlined introduction of new music to play on the radio.
With the acquisition of ItsFun.com, Sounds 24-7 adds a retail wing to its business. It can also license additional online music stores to radio stations or entrepreneurs who want to get into the retail business. Each individual store could possibly feature a special genre of music, in addition to the wider scope of listings on ItsFun.com.
"We are extremely pleased with this move," said J Raiana, spokesperson of Sounds 24-7. "It means that we are on track with fulfillment of our business plan to become a company servicing virtually all aspects of the recorded music industry."
Advanced Solutions and Technologies will be left with an online music store which will pay that company 25 percent of the proceeds of any sales made by the store. The name of the new site and its opening are to be announced in the near future.
For more information, please go to www.Sounds247.com, www.RadioStationLibrary.com and www.ItsFun.com.