PlayBOX to Purchase Delta Music
May 27 2008 - 6:15PM
Marketwired
LONDON, UNITED KINGDOM Inc. ("PlayBOX") (OTCBB: PYBX), today
announced it has signed a formal Share Purchase Agreement to
purchase 100% of the issued capital of Delta Leisure Group Plc
("Delta"), an established record company with an extensive
catalogue of major music CD's, DVD's and videos throughout the UK
and Europe.
The pending acquisition represents a significant milestone in
PlayBOX's plans to become a world leader in the marketing and
distribution of global media entertainment. Once completed the
merger will provide the combined PlayBOX group with real advantages
for growth in a fragmented market. The enlarged management team
already have three further acquisitions in their sights in the area
of IP and copyright ownership, music to mobile platform in niche
social networking, and advertising funded downloads.
Says Robert Burden, CEO of PlayBOX, "Once this acquisition is
complete, PlayBOX will control over 700 retail outlets in the UK,
giving it the ability to quickly and effectively distribute newly
purchased content. It's a tremendous competitive advantage."
Furthermore, Delta demonstrated growth and profitability
consistently over the past 12 years. PlayBOX intends to perpetuate
Delta's success while it also focuses on additional acquisition
targets.
"Delta is just the beginning," says Burden, "PlayBOX has plans
for aggressive growth through the further acquisition of
complementary media entertainment businesses for the mutual benefit
of the companies, emerging music artists, and PlayBOX shareholders
alike." The Company and its Directors have already identified 3 new
target acquisition Companies, and are presently in negotiations to
acquire them.
About Delta Music
Since its inception in 1993, Delta during the last 15 years has
become one of the most successful independent UK record companies,
manufacturing and distributing entertainment products with client
distribution outlets including Universal, Asda, Tesco, Aldi, Sit-Up
TV, TK Maxx, Toys-R-Us and Sainsbury's. Delivering constant growth
in revenues year on year since 1993, and last year delivering
US$14million in revenues and US$1million in ebitda unaudited, Delta
is positioned for further growth in a fragmented music industry.
The company's extensive catalogue of CD's boasts a wide range of
genres including classical, pop, rock, jazz and new age. As a
leading independent label, Delta is able to move swiftly in the
market place, and make exciting projects come to life quickly. In
addition, Delta was an early mover in the growing on-line digital
download industry. For more information, visit
www.deltamusic.co.uk.
About PlayBOX
PlayBOX is a media entertainment technology company that offers
a wide variety of distribution channels for new music artists. The
company targets emerging artists and small-to-medium sized record
labels that lack the knowledge or resources to setup and manage
their own online shop and distribution channels. PlayBOX offers
them pooled services such as hosting, streaming, e-commerce, and
digital rights management, and an overall cost-effective and
professional platform from which to sell and promote their music.
To better serve them, PlayBOX is aggressively growing its
traditional (retail) and non-traditional (digital, online and
mobile) distribution channels so artists can reach their waiting
public even more quickly and easily. Through a series of strategic
mergers and acquisitions, PlayBOX will become a world leader in the
distribution and marketing of global entertainment media. Further,
it aims to expand its distribution business to the exciting new
platform of delivering content to mobile phones throughout the
world.
FORWARD-LOOKING STATEMENTS:
Statements about PlayBOX's and Delta's future expectations,
including the completion of the acquisition of Delta by PlayBOX,
future revenues and earnings, 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 and Delta's actual results could differ materially from
expected results. Neither PlayBOX or Delta undertakes 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 and Delta will appropriately inform the public.
Contacts: PlayBOX (US) Inc. Harry Maloney +44 (0) 7717201313
Email: investor@play-box.com Website: www.play-box.com
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