Current Report Available 4/29/2002
MGCN - Magic Media Networks, Inc. - MGCN

TRADING SYMBOL: MGCN

MGCN websites:
http://www.magicmedia.com
http://www.cybars.com

January 31, 2002, - 5,286,519 shares of Common Stock outstanding
January 31, 2002, - 5,576,923 shares of Series A Preferred Stock outstanding.

The Series A Preferred Stock is convertible into 557,693 shares of Common Stock. All of its Series A Preferred Stock is owned by the president, Gordon Scott Venters. There is no public market for its Preferred Stock.

COMPANY:
Magic Inc. (MGCN:OTCBB) is a media production company focused primarily on the television advertising industry, offering extensive production capability and the exclusive services of an established point-of-sale advertising display network. The company's primary business is the production and distribution of television advertising commercials designed to effect consumers purchasing decisions at the point of purchase.

The company’s principal business activities are conducted through two operating groups: Magic Studios and Magic Media. Magic Studios produces television commercials primarily for the point-of-purchase market. Magic Media owns and operates a point-of-purchase video display network. Both Magic Studios and Magic Media apply a variety of systems and processes to enhance the creation and distribution of advertising commercial content.

The critical issue faced by advertisers today is how to make their messages visible and available in public, at the point of sale. The company believes that reaching customers at the “point of decision” is the future of advertising. Magic Media offers advertisers a market-tested, highly effective method to deliver their message. Magic Media delivers proprietary advertising content as well as content produced by third parties such as Budweiser and 20th Century Fox.

The advertising market is a multi-billion dollar industry. And point-of-sale advertising is the most cost-effective method for advertisers to reach consumers. Two leaders in point-of-sale advertising, Next Generation Networks (NGN) and RMS Networks (RMS) have both installed point-of-sale monitors at thousands of retail locations throughout the U.S. and abroad.

Magic Media recently launched the Cybars network which has begun installing point-of-purchase advertising monitors in Bars, Taverns and Nightclubs throughout the U.S.

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