Political commentary platform, Blue Nation Review, sold to True Blue Media
True Blue Media, LLC is a newly-formed company owned by David Brock, founder of Media Matters
SYDNEY, Australia – November 25, 2015 — MOKO Social Media Limited announces that its political commentary platform, Blue Nation Review, will be sold to True Blue Media, LLC, a newly-formed company currently wholly owned by David Brock, founder of Media Matters, a U.S. progressive-based research and information center.
Media Matters was founded in 2004 by David Brock, who also founded the Super PACs “Correct the Record” and “American Bridge”. Hillary Clinton advised Media Matters in its early stages out of a belief that progressives should follow conservatives in forming think tanks and advocacy groups to support their political goals. According to the New York Times, Media Matters “helped lay the groundwork” for Hillary Clinton’s 2016 presidential campaign.
All Blue Nation Review employees and assets will transfer over to True Blue Media under the strategic editorial vision of BNR Editor-at-Large Jimmy Williams. The terms of the transaction grant MOKO a 20% equity stake in the True Blue Media, with David Brock holding the 80% equity balance.
MOKO Social Media Chairman, Greg McCann, said, “We are very happy with this transaction as the new company will be better able to grow BNR’s influence and our retained equity holding will provide MOKO with a valuable upside opportunity.”
The sale is the result of a strategic decision by MOKO to focus on MOKO’s core student division, as announced in the Chairman’s Annual Review on September 30, 2015.