SOURCE: KIT digital

July 31, 2008 15:19 ET

RCN, Leading Latin American Broadcaster, Chooses KIT digital to Develop Streaming Media Initiatives

DUBAI, UNITED ARAB EMIRATES and BOGOTÁ, COLOMBIA--(Marketwire - July 31, 2008) - KIT digital, Inc. (OTCBB: KITD), a global provider of IPTV enablement and marketing solutions, announced today that the Company has been selected by RCN Television, one of the leading television broadcasters in Latin America, to provide a variety of online video and audio solutions for their television and radio assets.

RCN is a wholly owned subsidiary of the Ardila Lülle Organization, a leading regional, diversified conglomerate based in Bogotá, Colombia. KIT digital has contracted with e-nnovva Ltda., the recently created new media division of RCN, to provide proprietary technology to host live streaming, video-on-demand, and live audio content in both short and long formats for RCN's network of TV and radio stations. KIT digital's "VX " digital asset management platform will provide RCN with best-of-breed customer-facing functionality as well as wide-ranging capabilities for RCN to proactively create new channels and sub-channels, geo-blocking features, advertising integration, and other interactive marketing programs.

Carolina Angarita, general manager of e-nnovva Ltda. and head of new technologies and business development at RCN, said, "We look forward to working with KIT digital on the development of our new media programs. KIT digital is highly regarded for its expertise in providing innovative technology and timely support, which will help us continue to be the leader in our markets. We are delighted to have KIT digital partner with our management team."

Kaleil Isaza Tuzman, chairman & CEO of KIT digital, commented, "We are immensely pleased to be working with RCN and the Ardila Lülle group. RCN produces many of Latin America's top TV and radio programs, and we are confident our company can assist the group in becoming the leading distributor of new media programs in its markets. RCN has a strong reputation for innovation in television production and distribution technologies, and the creation of the e-nnovva subsidiary underscores what we hope will be a long working relationship with KIT digital."

"This partnership with RCN represents an important step forward for the Latin American business at KIT digital," continued Ivan Arias, KIT digital's head of business development in Latin America & the Caribbean. "We are very excited about what the rest of 2008 brings in the region, as our clients in Latin America continue to benefit from KIT digital's multilingual and multicultural approach to the IPTV solutions business."

About RCN

RCN is a leading Latin American broadcaster and provider of telecommunications services. Based out of Bogotá, Colombia, their diversified offering includes a television network and 8 radio stations, internet access services, and creative production services. RCN broadcasts a full range of original programming, including news, reality and game shows, films, and soccer. RCN was the creator and producer of the wildly popular telenovela Betty la Fea (Ugly Betty), which was later adapted for U.S. television and distributed globally. For additional information, please visit www.canalrcn.com.

About KIT digital, Inc.

KIT digital, Inc. (OTCBB: KITD) is a leading, global provider of proprietary IP-based video distribution technologies and video-centric interactive marketing solutions. Through its end-to-end platform, KIT digital works closely with consumer brands, content providers and telecommunication companies to maximize the value of video content via the Internet and mobile networks. The KIT platform allows clients to publish, manage and distribute digital video content, build online/mobile communities and integrate advertising. The Company offers businesses a full range of interactive marketing solutions and KIT clients can access approximately 100 KIT-syndicated channels and 40,000 KIT-syndicated videos. KIT digital clients include News Corp., Verizon, IMG, China Mobile, Telefonica, Vodafone, K-Mart, Coles, NASDAQ, Hummer and RCS. KIT digital has principal offices in Dubai, Melbourne (Australia), Stockholm, New York and London. For additional information, please visit www.kit-digital.com.

Forward Looking Statements

Certain statements in this document constitute "forward-looking statements" within the meaning of Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of KIT digital, Inc. ("the Company") or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to find its plan of operations when needed; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission which are available for review at www.sec.gov.

Contact Information

  • Contact:
    Julian Soler
    Director of Communications
    KIT digital, Inc.
    +1-646-435-8888
    Email Contact