SOURCE: NeuLion, Inc.

NeuLion, Inc.

October 27, 2009 18:00 ET

NeuLion Announces Hearing Date to Finalize Transaction Acquiring Interactive Netcasting Systems Inc.

PLAINVIEW, NY--(Marketwire - October 27, 2009) - NeuLion, Inc. (TSX: NLN) (the "Company"), an end-to-end IPTV service provider of live and on-demand sports, international and variety programming over the Internet, announced today that pursuant to the terms of the transaction (the "Transaction") to acquire Interactive Netcasting Systems Inc. ("INSINC"), previously announced by the Company by press release on October 6, 2009, INSINC intends to apply for a final order (the "Final Order") approving the Transaction on October 30, 2009.

Subject to the approval of the shareholders of INSINC at the shareholder meeting of INSINC scheduled for October 29, 2009, INSINC will apply to the Supreme Court of British Columbia in Vancouver for the Final Order approving the Transaction by way of plan of arrangement pursuant to the provisions of the CBCA and declaring the Transaction to be fair to the shareholders of INSINC.

The hearing will be in Action No. S-097381, Vancouver Registry, of the Supreme Court of British Columbia, IN THE MATTER OF SECTION 192 OF THE CANADA BUSINESS CORPORATIONS ACT, R.S.C. 1985, C. C-44, AS AMENDED AND IN THE MATTER OF AN ARRANGEMENT INVOLVING INTERACTIVE NETCASTING SYSTEMS INC., ITS SECURITY HOLDERS AND NEULION, INC. and will be in Chambers at the Courthouse at 800 Smithe Street, Vancouver, B.C. on October 30, 2009 at the hour of 9:45 am PT or as soon thereafter as counsel is heard.

Subject to approval of the Arrangement by the Court and the satisfaction of certain other closing conditions, it is expected that the Arrangement will close shortly after the granting of the Final Order.

About NeuLion

Based in Plainview, NY, Sanford, Florida and Toronto, Ontario, NeuLion (TSX: NLN) works with content partners to develop end-to-end solutions for multimedia IPTV services. The NeuLion IPTV Platform encodes, delivers, stores and manages an unlimited range of multimedia content and the Operational Support System (OSS) maintains all billing and customer support services. Content partners are responsible for content aggregation and the sales and marketing for the individual IPTV service. The Company ranks as a world leader in customer/partner relationships with sports and international television content partners including, in sports, the NHL, the NFL, NCAA Division I schools and conferences and, in respect to international television aggregators and networks, KyLinTV (Chinese), ABS-CBN (Filipino), Talfazat (Arabic), TV-Desi (South Asian) and Sky Angel (Christian). Customer/partner content can be viewed by way of Internet on PCs and on the television through the Company's IPTV set top box.

About INSINC

INSINC is a leading webcasting company, enabling enterprises and content owners to distribute and monetize online video which can help improve communications, increase efficiencies and reduce costs. Founded in 1997, INSINC's core business is to provide live and archived video content to audiences online with integrated pay-per-view and commerce transaction processing, delivered to geographically dispersed audiences.

Forward-Looking Statement

Certain statements herein are forward-looking statements and represent NeuLion's current intentions in respect of future activities. These statements, in addressing future events and conditions, involve inherent risks and uncertainties. Forward-looking statements can by identified by the use of the words "will," "expect," "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including: the integration of the businesses of NeuLion and INSINC, our continued relationships with our channel partners, general economic and market segment conditions, competitor activity, product capability and acceptance, rates, technology changes and international risk and currency exchange. More specific risks include that the merged entity will not be able to realize some or all of the expected synergies due to incompatibilities in the merging businesses, the inability of management to bring about such synergies or a changing business environment rendering such synergies inadvisable or uneconomical. After integrating the businesses the suite of service offerings may not perform as expected if shifting demand moves in a direction away from the expected business model of the merged entity, if competitors are able to take market share away from the merged entity or if changing technology adversely impacts the merged businesses. In addition, while the Company expects its content partners and those of INSINC to continue and expand their relationship with the merged entity, there can be no assurance that such relationships will continue as expected, or at all. A more detailed assessment of the risks that could cause actual results to materially differ from current expectations is contained in the "Risk Factors" section of the Company's 2008 annual MD&A and AIF filed on www.sedar.com and Registration Statement on Form 10, as amended, available on www.sec.gov.

Contact Information

  • Press Contact:
    Jennifer Powalski
    Corporate Communications
    +1-516-622-8334
    Email Contact

    Investor Relations Contact:
    G. Scott Paterson
    Vice Chairman
    +1-416-368-6464
    Email Contact