SAMS ONLINE ACQUIRES MEDIATROPOLIS, DEBUTS NEW PAYMENT METHOD
By Adnews Staff
Toronto-based Sams Online is acquiring Mediatropolis Inc., also of that city, in a $3 million deal expected to close early next month. Sams is the online division of music retailer Sam the Record Man. It is found at <http://www.samtherecordman.com>. Mediatropolis is an online marketing company that creates Web sites for musical acts. Its clients include R&B artist Deborah Cox and hip-hop band Tra-Knox. Mediatropolis' content will be combined with Sams' online presence to create a retail and entertainment Web-services entity, according to David Austin, chief executive of Mediatropolis. Austin will become CEO of Sams Online, replacing interim Jason Sniderman, who will remain a director of the company. Jesse De Costa, president and COO of Mediatropolis, will assume the position of president of Sams Online. The deal remains subject to regulatory approval.
Also, customers to the Samtherecordman.com Web site have a new method of payment available to them. The company has struck a deal with Vancouver-based Hyperwallet to allows customers to use virtual cash to pay for online purchases. Customers, who must have a Canadian bank account, open an account with Hyperwallet at <http://www.hyperwallet.com> into which they can then transfer funds from their bank into a virtual wallet. According to Sams, the payment method is aimed at consumers worried about privacy and security as well as customers too young to hold a credit card. The Hyperwallet service is free to customers at the Samtherecordman.com Web site. Public relations for SamtheRecordMan.com are handled by Maverick Public Relations of Toronto.