SOURCE: Consolidated Streaming, Inc. and Wi-Fi TV Inc.

July 25, 2005 09:00 ET

Consolidated Streaming Inc. Announces Planned Strategic Alliance With Wi-Fi TV Inc.

BOCA RATON, FL -- (MARKET WIRE) -- July 25, 2005 -- Consolidated Streaming Inc. (OTC: CSEMF) announced today that it has entered into a Letter of Intent with Wi-Fi TV Inc. (OTC: WTVN) to form a strategic relationship whereby Wi-Fi TV, Inc. will help Consolidated Streaming to develop and implement content channels on its distribution platform.

The Letter of Intent calls for Wi-Fi TV, Inc. to provide consulting services pertaining to the streaming media communications business of Consolidated Streaming. Under the Letter of Intent, the parties intend to enter into a definitive agreement providing for the payment of 15,000,000 shares to Wi-Fi TV, Inc. in consideration for the provision of services and content having a value of approximately $150,000. Under the agreement, Consolidated Streaming will be obligated to use its best efforts within the first 12 months of the agreement to register with the U.S. Securities and Exchange Commission up to 10,000,000 of the shares being paid to Wi-Fi TV Inc., so that they may be distributed directly to the shareholders of Wi-Fi TV, Inc. In the event that the registration cannot be accomplished within the required time, the shares will be retained by Wi-Fi TV, Inc.

"We are excited to work with Wi-Fi TV Inc. on the mutual development of content channels and technology on a global scale, and believe there will be tremendous ongoing synergy between our two companies," stated Keith Friedman, Chairman, Consolidated Streaming Inc.

Consolidated Streaming Inc., a publicly listed company, is a digital media company specializing in providing Live-On-Demand content to niche market audiences. For further details on this and other Consolidated Streaming news, please visit: http://www.consolidatedstreaming.com.

For online distribution of content, Consolidated Streaming Inc. can be contacted at 386-767-1210 or by email at content@consolidatedstreaming.com.

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

Contact Information

  • Contact:

    Consolidated Streaming, Inc.
    Keith Friedman
    Chairman
    386-527-2580
    Email Contact

    Wi-Fi TV Inc.
    Investor Relations
    Colby Marceau
    949-716-9397
    Email Contact