MIAMI and NEW YORK, July 17,
2012 /PRNewswire/ -- Star Entertainment, Inc.
(PINKSHEETS: SETY), a leader in digital distribution, is please to
provide an operational update on the progress accomplished in the
implementation of its recently announced enhanced business plan and
new strategic direction that included corporate wide rebranding and
the launch of significant new operations and consumer media
technology acquisitions that would not require the issuance of
Common Stock or debt.
The Company is now strategically positioned in the Digital Music
industry which, according to respected research firm Ovum, is
expected to exceed $20 billion in
annual revenue by 2015, with 30% of that belonging to the
independent label and artist segment of the market.
Since March of 2012, the Company has moved quickly with the
implementation of its new media and digital content, delivery and
monetization initiative through a strategic acquisition, innovative
development projects and tactical implementation strategies and has
substantially grown and strengthened its revenues and asset value
through a model of continuous growth:
1. Private change of control of the Company completed
resulting in complete change of Officers and Directors
2. Developed an enhanced Business Plan and new
Strategic Direction targeted at the new media and digital content
industry through delivery and monetization of multi-dimensional
Online Customer Communities through the integrated use of online;
interactive, real-time Internet television broadcasting; Internet
radio networks; participatory mobile applications; proprietary
search capabilities and intuitive advertising platforms
3. Complete corporate rebranding and launch of new
Star Entertainment Group website.
www.StarEntrtainGroup.com
4. In anticipation of new growth opportunities and as
a loyalty benefit to all shareholders, the Company had declared and
authorized its Transfer Agent to pay all shareholders on record, a
stock dividend of 3 new shares will be issued for every 100
owned.
5. Upgraded by OTC Markets to the highest trading
status of "Current Information", by meeting the OTC Markets Group
Guidelines for Providing Current Information guidelines. The
Company will now be designated as OTC Pink Current
Information. Additionally, the Company has brought current
all the required State filings and fees.
6. Acquired of Tranzistor Systems, Inc., a company
engaged in mobile music entertainment products and services
including internet radio, fan applications, and eCommerce products,
with assests valued in excess of $10 million
dollars; through an equity-building issuance of Preferred
Stock that created no debt for the Company and did not require the
issuance of Common Stock.
7. Integrated Tranzistor System, Inc. operation and
management, effectively implementing the following strategic
rollouts in its aggressive business plan:
7.1. Released its BETA Tranzistor Radio application to the
Android Market and will soon have its iPhone app in the Apple Store
pending Apple's final review of the technology. Tranzistor Radio's
BETA application can be downloaded for free at
www.TranzistorRadio.com. Internet radio is seeing explosive
growth. According to just-released survey data from Edison Research
and Arbitron, 103 million Americans are now accessing online
radio in some form, in any month.
7.2. Tranzistor Radio division was featured in the
influential Indie Music.com web-zine, adding support to its
recently released BETA Tranzistor Radio application. As
posted on May 31st, "The newest
player in the market is the aptly named Tranzistor Radio, a smart
phone app designed for music lovers seeking the best new bands and
indie labels. With a multitude of music styles to choose from and
multiple original channels within each genre, listeners hoping to
discover fresh sounds will have, literally, thousands of
options."
7.3. Tranzistor Systems, Inc. acquires NINJ GmBH, a
pioneer in developing ground breaking mobile technology since 2005.
Their VirtualRadio product has established a market leading
position in the fast growing segment of Internet based Radio
Software and Services for mobile phones (www.VRadio.org )
7.4. Tranzistor Systems announced its slate of first to
broadcast channels and stations today and is looking to deploy this
music network on top of their new Tranzistor Radio and already
established Virtual Radio product in Europe and Asia. Virtual Radio already has a download
base of 5,000,000 applications and recently released its iPhone
application. According to eMarketer Daily and Bridge Ratings
growth is predicted to reach 200 million monthly listeners by 2020,
up from the current levels of around 150 million monthly listeners
and Tranzistor Radio is dedicated to creating product to share in
that market evolution and the forward progress of mobile
listening.
7.5. Tranzistor Systems announced the details of its
eCommerce division, MediaPal, a software platform that enables
content owners of any size to profitably sell content via their
Internet site. This platform allows Tranzistor to add to its
growing list of offerings, which already include distribution of
digital assets in the online space. Tranzistor has established the
Music 3.0 Ecosystem which directly links a musician or band to
their distribution platform while monetizing and building fan
loyalty along the way. Further details can be found at
www.MediaPal.com .
Tranzistor Systems anticipates the completion of its capital
raises and the subsequent launch of its music on the Tranzistor
Radio network and its sister application Virtual Radio during the
summer. Tranzistor Systems announced its slate of first to
broadcast channels and stations today and is looking to deploy this
music network on top of their new Tranzistor Radio and already
established Virtual Radio product in Europe and Asia. Virtual Radio already has a download
base of 5,000,000 applications and recently released its iPhone
application. The Company will continue to provide periodic updates
on the progress of its initiatives and potential acquisitions.
About Star Entertainment Group
Star Entertainment Group, Inc. is an independent investment,
management, and holding company focusing on new media and digital
content, delivery and monetization of multi-dimensional Online
Customer Communities through the integrated use of online;
interactive, real-time Internet television broadcasting; Internet
radio networks; participatory mobile applications; proprietary
search capabilities and intuitive advertising platforms. The
Company will operate as a central hub, utilizing our strengths in
M&A, capital and resource management and will proactively
minimize risk by teaming with experienced technologies operators,
leveraging their experience and knowledge.
About Tranzistor Systems Inc.
Tranzistor Systems, a wholly owned subsidiary of Star
Entertainment Group, is a consumer technologies company developed
to address the independent music, social media and entertainment
markets and is a home for artists, bands, fans and indie labels to
cross-pollinate and create multiple revenue streams. With our
internet radio and discovery platforms Tranzistor will be the first
interactive company and brand to widen the demographic for fans,
indie labels and independent artists. Tranzistor will focus on
developing and monetizing their content.
Forward Looking Statements - Safe-Harbor Statement
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 Star's business and copies of Star's press
releases and additional information about Tranzistor Systems,
please refer to http://www.StarEntertainGroup.com
Star Entertainment Group
info@StarEntertainGroup.com
(570) 213-4204
SOURCE Star Entertainment Group, Inc.