CBS Obtains Anti-Trust and Merger Control Clearances for Its Acquisition of CNET Networks, Inc. and XM, EMI settle dispute over portable player

City of Industry, CA --(www.USEquityNews.com)-- 06/11/2008 - Broadcasting industry alert provided by U.S. Equity News. CBS Corporation (NYSE: CBS) announced recently that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its tender offer to purchase all of the outstanding shares of common stock of CNET Networks, Inc. expired at 11:59 P.M., ET on Monday, June 9, 2008, and that it has obtained clearance for the tender offer from the Federal Cartel Office of Germany. The tender offer to acquire all of the outstanding shares of CNET Networks, Inc. at a purchase price of $11.50 per share, net to the seller in cash, without interest, is scheduled to expire at 12:00 Midnight, ET, on Friday, June 20, 2008, unless the tender offer is extended.


Modavox, Inc. (OTCBB: MDVX), Internet broadcasting pioneer and holder of several patented technologies, announced recently that through the use of its patented Enterprise(TM) Platform, it has provided its customer, Goldwater Bank, with broadcasting capabilities and features that facilitate a more efficient web-based communications strategy for the organization. The Modavox Enterprise(TM) platform that supports the site enables customization of the content, real-time publishing and the distribution of video broadcast content.

XM Satellite Radio Holdings Inc. (NASDAQ: XMSR) said recently it settled a copyright dispute with music publisher EMI Music. XM did not disclose the terms of the settlement. Major recording companies had filed a complaint against XM in May 2006 on concerns that the company's portable Pioneer Inno music player enabled listeners to record songs. XM has already reached similar agreements with Sony BMG, Universal Music Group and Warner Music Group.

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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