MEDIA GLOBO Celebrates 2007 Annual Shareholder Meetings

MDGB Shareholders Approve Merger and Property Stock Dividend

Los Angeles, CA (PRWEB) July 10, 2007 -- The MEDIA GLOBO Corporation (OTC:MDGB) (MDGB:PK) announced today, that the consolidated Company has duly completed its 2007 Annual General Meeting(s) of Shareholders; and all strategic reorganization and business management initiatives were overwhelmingly approved.

The announcement follows a reorganization and merger with The Axess Media Group, Ltd. (OTC: AXMG); which was lawfully executed and filed under the auspices of all proper U.S. regulatory and public market authorities; and which became effective on March 12, 2007. The action also follows a number of separate notices and meetings, also duly held by the majority-owner(s)-in-interest and controlling shareholder(s) of both AXMG and MDGB, during the first and second quarters of this year.

A quorum of 95,020,000 common shares of the total 95,140,000 issued and outstanding common shares in MDGB, as of the Company's June 30, 2007 fiscal year-end, tendered proxies in favor of ("For") the proposed matters of business at the meeting(s); representing 99.87 % of all common stock voting shares, as of the record date of the 2007 Annual General Meeting of the Shareholders of The MEDIA GLOBO Corporation.

In addition to approving the strategic merger between MDGB and AXMG, the shareholders also approved 2007-2008 property dividend(s) and stock distribution(s) to the Company's shareholders; as consideration for one or more business spin-offs and divestment of the www.thehealthchannel.com during the 1999-2000 fiscal years. Any declared dividend is also expected to be distributed on a formula basis to certain previously registered shareholders of: The Axess Media Group, Ltd. (OTC: AXMG); BioLogix International, Ltd. (OTCBB / OTC: BGIX); and Thehealthchannel.com, Inc. (OTCBB: THCL / THCH). Further announcement(s) are expected regarding any stock dividends; which may be subject to compliance or regulatory reviews; along with other material matters considered and approved by or on behalf of the MDGB shareholders.

SAFE HARBOR STATEMENT

INCLUDED IN THIS PRESS ANNOUNCEMENT AND REFERENCED HEREUNDER ARE THE MEDIA GLOBO CORPORATION FORWARD-LOOKING STATEMENTS AND PROJECTIONS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. ALTHOUGH THE COMPANY BELIEVES THAT THE EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE REASONABLE, IT CAN GIVE NO ASSURANCE THAT SUCH EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS WILL PROVE TO BE CORRECT NOR RELIED UPON FOR INVESTMENT PURPOSES.

Copyright 2007
The MEDIA GLOBO Corporation
All Rights Reserved

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