FORT LAUDERDALE, Fla.,
May 12, 2015 /PRNewswire/
-- Next 1 Interactive, Inc. (OTCQB: NXOI) announced today that
it has agreed to sell its assets in the R&R Television Network
to Launch 360 Media, Inc. in exchange for a 10% minority interest
in Launch 360 Media, Inc., with the remaining 90% retained and
owned by Cherokee Black Entertainment, Inc. Additionally Next 1
will receive the rights to limited daily advertising time to
promote its Travel, Real Estate and Employment platforms to Launch
360's viewing audience.
As part of the agreement, Launch 360 will commence broadcasting
under the R&R TV branding to its approximate 37 million
households in the Caribbean,
Canada and the United States. Additionally a distribution
agreement has been reached with Simply Me that will position
R&R Television to be carried on a VOD platform on Dish Network,
Verizon FIOS and the 126 million mobile devices on Verizon
Wireless.
As part of the Networks expansion, Cherokee Black Entertainment,
Inc. plans to reach out to its significant relationships in the
sports, music and television entertainment communities to develop
new content to enhance the current programing lineup. This new
content will include Pay-Per-View music and comedy concerts as well
as live and taped interviews and events which can also be
sub-licensed to third party operators to generate significant
ancillary revenue for the company.
Jimmie Wheeler (a highly skilled,
entrepreneurial-minded leader in entertainment) and R&R
Television's president, David Simon,
will be heading efforts to aggressively expand R&R Televisions
US distribution. "After years of working in both the entertainment
and television industries we are excited about bringing together
the synergies of the parties to create a truly unique lifestyle and
entertainment network under the R&R TV brand," commented Mr.
Wheeler.
The immediate goal is to capitalize on the union between the
Network's North American reach and certain Next 1 product offerings
including; Maupintour, the Home & Away Club and NameYourFee.com
(employment recruiting) platforms. Next 1 CEO, Bill Kerby stated, "I am very excited to see
R&R TV re-launching during this strong economic environment for
jobs, travel and real estate. There is no medium like television to
capture awareness and we plan to use both our valuable advertising
time and R&R TV's new celebrity connections to help drive
products, services and sales to multi-million dollars levels."
The parties are working towards a new comprehensive marketing
agreement covering multiple areas where synergies exist and they
hope to announce final terms shortly.
About Launch 360 Media, Inc.:
Launch 360 Media, Inc. is a fully programed television network
which now broadcasts to an estimated 37 million households in the
Caribbean, Canada and the
United States. The company began broadcasting initially to
27 English Caribbean countries from the US, before being recognized
by the US cable and broadcast companies. Recent growth includes
Toronto and Montreal, Canada, NY-Tri-State area
(New York, New Jersey and Connecticut) and Comcast Denver, Colorado. Additionally the company has
entered into both video on demand (VOD) and over the top television
platforms with VOD platforms on Dish Network, Verizon FIOS and
Verizon Wireless mobile devices and "over the top" TV programing
with ROKU to several million subscribers.
About Next 1 Interactive, Inc.:
Next 1 Interactive, Inc. (NXOI) is a service company
specializing in the employment, travel and real estate arenas. Next
1 plans the delivery of targeted content via multiple digital
platforms. In today's digital market, Next 1 delivers information
and entertainment to consumers. The company business plan calls for
multiple revenue streams from recruiting, real estate and travel
content delivery including transactional commissions, referral
fees, advertising and sponsorship.
Safe Harbor Statement:
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plan,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks described in statements filed from time
to time with the Securities and Exchange Commission. All such
forward-looking statements whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by the
cautionary statements that may accompany the forward-looking
statements. In addition, the Company disclaims any obligation to
update any forward-looking statements to reflect events or
circumstances after the date hereof.
CONTACT:
For Further Information:
NXOI Corporate Headquarters
Next 1 Interactive, Inc.
+1-954-888-9779
investorrelations@nxoi.com
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SOURCE Next 1 Interactive, Inc.