Masterbeat Corp. announced Friday that they consummated their acquisition of AudioStreet, Inc., a privately-held operator of website communities focused on music-based content. These website communities include www.AudioStreet.net, www.MixStreet.net, and www.LiveMansion.com.
Masterbeat owns and operates www.masterbeat.com. Masterbeat.com is a digital music download store offering consumers more than 5 million tracks. These tracks range from past and present hits to rare and exclusive dance and DJ remixes from major and independent labels.
Brett Henrichsen, Masterbeat’s Chief Executive Officer (CEO) and Founder, announced, “Masterbeat was founded in an effort to create the best possible user experience for audiophiles and to offer only the highest quality ‘audio files’ in the process. This deal will strengthen Masterbeat’s efforts to become the premier digital music community on the web.”
Henrichsen will step down as CEO to assume the position of Chief Creative Officer. “Relieving me of the responsibility of operating our back office on a daily basis will allow me to focus my energy on driving massive traffic to the sites and increasing revenue,” Henrichsen said. Music Industry heavyweight Dick Wingate will remain the Chairman of the combined companies.
AudioStreet.net and MixStreet.com began in 2004 and 2005, respectively, as online destinations for musicians, DJs, and music mixologists. These sites provide a platform for artist discovery and for the promotion and distribution of new music from independent producers. These two sites, combined, currently have more than 40,000 brands and 20,000 actively participating DJs.
Mr. Chris Messalas, Chairman of AudioStreet, Inc., stated, “We are excited about the synergy that exists between AudioStreet’s brands and Masterbeat. We look forward to the imminent growth of all of the brands under the stewardship of the Masterbeat team.” Appointed CEO of Masterbeat Corporation, Mr. Messalas will lead the joint entity.
Since 2008, Chris Messalas has been the Chairman and CEO of AudioStreet, Inc. Mr. Messalas also has over 19 years experience in the securities industry. His specialty is in the micro and small cap markets. Mr. Messalas, as the Managing Partner of LeadDog Capital LP, has formed strategic relationships with some of the world’s largest institutional investors and lenders allowing them to structure creative corporate financing solutions for high growth companies.
Mr. Jan Chason has been appointed COO and CFO of Masterbeat. Mr. Chason has extensive experience in financial management in the entertainment industry. He has served as the CFO and in other senior financial positions for several public companies. He was part of the team that built SFX Radio and SFX Entertainment into Live Nation Entertainment. Mr. Chason is also the CFO of several small cap companies. Before serving in these positions, he was a Partner in Ernst & Young LLP.
For more information on Masterbeat Corporation visit: www.masterbeat.com
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