Clear Channel Sets Shareholders Special Meeting Date of July 24, 2008 and Dreamworks declines following UBS downgrade

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City of Industry, CA --(www.USEquityNews.com)-- 06/13/2008 - Broadcasting industry alert provided by U.S. Equity News. Clear Channel Communications, Inc. (NYSE: CCU), a global leader in the radio broadcasting and out-of-home advertising industries, recently announced that Clear Channel will hold a special meeting of its shareholders on July 24, 2008, at which the proposed merger with the group led by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P will be considered. Clear Channel shareholders of record as of 5:00 p.m. New York City time on June 19, 2008, will be entitled to vote at the special meeting. The parties expect that closing will occur on July 30, 2008. Further details regarding the proposed merger, including such specifics as the special meeting time and location, will be provided in an updated proxy statement/prospectus, which the Company expects to file in the near future.


Modavox, Inc. (OTCBB: MDVX), Internet broadcasting pioneer, holder of several patented technologies and the leading producer and distributor of online talk radio content, recently cited a recent Wall Street Journal piece listing Internet Radio as the fastest growing web site category. The Wall Street Journal listed "Radio" as having a total 62.4 million unique visitors for the month of April, a 76% year over year increase. Modavox is the leading producer and distributor of online talk radio content, streaming over 300 hours of live programs and scheduled replays weekly on its VoiceAmerica(TM) Network (www.voiceamerica.com) and its World Talk Radio Network(TM) (www.worldtalkradio.com). Modavox previously released that for the months of January and February 2008, the company had an average in excess of 5 million unique visitors to the company's sites and on their patented advertising platform.

Shares of Dreamworks Animation SKG Inc. (NYSE: DWA) declined Thursday after an analyst cut his rating on the animated film company to "Sell," saying the stock overvalues its films' box office performance. Michael C. Morris lowered the company from "Neutral" in a client note Thursday. He said the stock's Wednesday close of $31.09 implies average per-film box office sales of $202 million for its future -- above the company's average, including its lucrative Shrek franchise. The company's last five films have averaged about $191 million in domestic box office revenues, he said.

247MGI, Inc. (OTC: TOFS) ("247MGI") is pleased to announce that a substantial shareholder of the Company has agreed to send back to the Company 40 million shares of common stock to be canceled for Preferred shares in the Company. 247MGI has been working on this transaction for awhile and expects the certificates back in its possession within the next couple of weeks. When the 340 million share of common stock are canceled the number of outstanding shares will be 59 million, a big enough reduction for the Company to move forward with its planned reduction of the Authorized shares to 90 million. 247MGI is placing a Paypal link on its website to raise money to send calling cards to our troops. Please donate whatever you can so our men and women of the military can do what we do everyday, call home!

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