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Fernandez Capital to Acquire Stake in MAF Omnimedia
NewswireToday - /newswire/ -
New York City, NY, United States, 05/02/2006 - Fernandez Capital LLC announced today a definitive agreement to acquire a minority stake in MAF Omnimedia LLC, a privately held company that is a leading global distributor of current news and event information in New York City.
MAF Omnimedia will operate as a separate entity from Fernandez Capital. MAF Omnimedia's management team will remain in place and the company's day-to-day operations will not be affected by the ownership change.
Carlos T. Fernandez, Fernandez Capital chief executive officer, said that "MAF Omnimedia fits the firm's investment criteria and extraordinary leadership potential omnipresent in our portfolio."
"MAF Omnimedia is a company that fits our investment criteria perfectly. Its profile is comprised of an experienced management team and we believe it is positioned for significant growth and has tremendous industry leadership potential" said Fernandez. "Among MAF Omnimedia's current products and services is ReachNYC.com. This online community portal will play an integral role in connecting the residents and visitors of this city with its businesses at large," Fernandez added.
"MAF Omnimedia has built its own niche in the area of Marketing. Fernandez Capital will guide us on our clearly defined task of reaching out and befriending every single New Yorker through our service: ReachNYC.com. Literally.," said Miguel A. Fermin, who founded MAF Omnimedia, and is the company's chairman and chief executive officer. "Fernandez Capital is committed to providing a supportive environment that will allow MAF Omnimedia to continue to expand in its markets and to take advantage of emerging opportunities."
About Fernandez Capital
Fernandez Capital LLC is a private investment firm that invests in extraordinary entrepreneurs and promising companies that are currently in the early stages of business. The firm's industry focus is on traditional media, new media, and Internet business services. It is a limited liability corporation formed in the state of Delaware of the United States with principal offices located in New York City.
About MAF Omnimedia
MAF Omnimedia LLC was founded by chairman and chief executive officer Miguel A. Fermin. It is a Delaware LLC with offices in New York City.
MAF Omnimedia is intertwined to the lives of people with its ReachNYC.com service. It is a staple in not only their homes, but also in their daily progress and outdoor liveliness. ReachNYC.com hopes to serve as New York's second voice, behind its political representatives and public servants. The company achieves this by providing web-based news and event information to its devoted readers throughout New York City and other parts of the United States.
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