Locally based Internet company Solutions Media, Inc. has acquired a Las Vegas music conference, showcase and festival in a multimillion-dollar cash and private stock transaction.
Further financial details were not disclosed.
In Solutions’ purchase of Emerging Artists and Talent in Music (EAT’M), the local company’s stock was valued at $13.60.
Currently, Solutions is privately held, but the company plans to go public next year.
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Revenues for EAT’M have increased by 40 percent in its second year, with registration growing from 700 in 1998 to 1,100 in 1999.
