PlayBOX in Negotiations to Acquire New Visions Mobile
July 24 2008 - 9:00AM
Marketwired
LONDON, UNITED KINGDOM Inc. ("PlayBOX") (OTCBB: PYBX), 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 Laurie Adams. "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. PlayBOX's recent acquisition of Delta
Leisure Group Plc, with its combination of IP ownership of
copyrights in music and visual media, access to the traditional
marketplace, and early position in the digital download music
market, now puts PlayBOX in an excellent position to capture its
share of the $8bn independent global music marketplace.
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.
Contacts: PlayBOX (US) Inc. Robert Burden +44 (0) 7717201313
Email: investor@play-box.com Website: www.play-box.com
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