VOXI Signs Letter of Intent to Acquire Digital Assets
January 24 2011 - 8:37AM
Marketwired
VoxPop Worldwide, Inc. ("VOXI" or "VoxPop") (PINKSHEETS: VOXI)
today announced that it has reached an agreement with the owners of
R&R Music Limited (R&R) of Great Britain to purchase all of
the share capital together with the assets (IP), websites, and the
research and development business of that company for an
undisclosed amount. R&R's foundation website R&R World
(www.randrworld.com) provides for independent musicians and the
managers who work with them a series of leading edge web tools that
act as a digital artist and repertoire (A&R) platform for the
discovery and exposure of their music to fans and other users of
music content across the globe. R&R World, which in beta test
mode has attracted over 20,000 users including over 5,000 artists
and seen participation in 176 countries, is both a compelling
entertainment and learning platform and a global, online
marketplace in which those who create music are brought together
with those who use or consume it, to do business. It will be
central to VoxPop's mission to create the social network of choice
for the vast community of performing artists and their fans,
songwriters, music professionals and hobbyists, around the world.
"It's an exciting and fast growing time in the music industry,"
said Josh Eikov, CEO of VOXI. "According to EMarketer, the global
music business is expected to do $67.6 billion in
sales this year, with more than $14 billion of that expected to be
from digital music sales. Our acquisition of R&R Music gives us
a keystone platform to launch our independent artist and music
community. By combining a digital discovery and exposure platform
with the distribution of internet radio and other broadcast
opportunities, VoxPop Worldwide is setting the stage for creating a
music revolution."
R&R Music and R&R World were founded by software
entrepreneur David Ritchie and Eric Nicoli, the former Chairman and
CEO of EMI Group plc and CEO of United Biscuits plc. On completion
of the transaction, Mr. Ritchie will join VoxPop as CTO and a
Member of the Board of Directors, and Mr. Nicoli will also join the
Board of Directors and become Co-Chairman with Phil Quartararo, a
VoxPop founder director.
"David and I are looking forward to working with old friends and
the team at VoxPop Worldwide," said Eric Nicoli, Chairman of
R&R Music. "The distribution platform that is being built on
top of the content gathering machine that we have built at R&R
will produce an extraordinary result for artists, fans and
advertisers."
The transaction is subject to each company's board approval and
is expected to close within thirty days.
VoxPop will build and develop internet media properties
including internet radio, television and social media platforms
surrounding independent artists' space. The new management team
that replaced Moses Cross and John Adams includes veterans of the
music, advertising and internet worlds including Phil Quartararo,
founding team member of Virgin Records America and past President
of Warner Brothers Records as Chairman; Jim O'Mahony, former Global
CEO (ex USA) of Saatchi & Saatchi as Chief Marketing Officer,
and Josh Eikov from the internet and mobile worlds as CEO. More
information on the new management team is available on
www.voxpopworldwide.com.
As always investors are cautioned to be careful of their
investments and to always seek the advice of a financial
professional.
About VoxPop Worldwide, Inc.
VoxPop Worldwide, Inc. is an Internet and mobile media holding
company that has and is seeking to acquire additional full and/or
controlling interests in subsidiary companies and associated
Internet and mobile properties concentrated on internet
broadcasting and on producing and developing content. The spirit of
entrepreneurship provides the engine that drives economic growth
and innovation, both in good times and bad. VoxPop aims to provide
support and service to these innovators through its broad and
comprehensive network of Internet media and platforms.
Forward Looking Statements
Statements made in this press release that are not historical
facts constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, Section 21 of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
necessarily estimates reflecting the best judgment of senior
management and express the Company's opinions about trends and
factors which may impact future operating results. Such statements
rely on a number of assumptions concerning future events, many of
which are outside of the Company's control, and involve risks and
uncertainties that could cause actual results to differ materially
from opinions and expectations. Any such forward-looking statements
should be considered in context with the various disclosures made
by the Company about its businesses. The Company undertakes no duty
to update any forward-looking statement to conform the statement to
actual results or changes in the Company's expectations. For
further information regarding risks, uncertainties, and other
factors associated with VoxPop's business and copies of VoxPop's
press releases and additional information about VoxPop, please
refer to www.voxpopworldwide.com.
VoxPop Contact: Josh Eikov CEO investor@voxpopworldwide.com
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