PlayBOX, a global media entertainment distribution company, today announced its plans to acquire New Visions Mobile ("NVM"), a mobile music company that creates social networks for artists and music brands across mobile networks.
The two companies have been in negotiations since March 2008, and have now agreed to sign a Letter of Intent to merge.
"NVM's demonstrated success and expertise at building an exciting international client base including music labels such as Universal and EMI, and is a perfect fit for PlayBOX," said PlayBOX CEO Robert Burden. "We are actively growing our mobile distribution channel and a merger with NVM would bring us to the forefront of this latest method of distributing media entertainment."
About New Visions Mobile
New Visions Mobile is the company behind "Kylie Konnect", the hugely successful social network for pop artist Kylie Minogue. The network has amassed over 12,000 fan sites and generated nearly 250,000 visitors since its launch in Nov 2007. The successful network is just one example of how NVM uses social networking and user-generated content technologies to create active online communities of people who share and connect with each other online and via the mobile Internet. The company has actively created over 2000 mobile campaigns for record labels, media owners and artists such as Queen, Lilly Allen, Rihanna and Robbie Williams. Revenues, created from merchandising and online and mobile advertising around each network, have been growing steadily since the company's inception in 2001. The company, based in the UK, has amassed over 2 million mobile consumers for record labels such as Virgin Records, Atlantic Records, Mercury Records and Parlophone. One of the very few UK technology companies that is cleared to operate mobile services in the US, NVM has also worked on brand campaigns for Volkswagen Calvin Klein, and Sony Ericsson, as well as putting the Collins English Dictionary on mobile. For more information, visit http://www.newvisionsmobile.com/.
About PlayBOX
PlayBOX is a growing global media entertainment distribution company that offers a wide variety of distribution channels for new music artists and small-to-medium sized record labels. PlayBOX is aggressively growing its traditional (retail) and non-traditional (digital, online and mobile) distribution channels so independent artists can reach their waiting public even more quickly and easily, while staying at the forefront of emerging trends in distribution. Through a series of strategic mergers and acquisitions, PlayBOX will become a world leader in the distribution and marketing of global entertainment media, with a strategic focus on delivering digital media through PC's, television and mobile phones.
FORWARD-LOOKING STATEMENTS:
Statements about PlayBOX's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. PlayBOX's actual results could differ materially from expected results. PlayBOX does not undertake any obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this objective, PlayBOX will appropriately inform the public.