SOURCE: FAB Universal

FAB Universal

FAB Universal

July 20, 2016 16:01 ET

FAB Universal to Spin Off Liberated Syndication to Shareholders

PITTSBURGH, PA--(Marketwired - Jul 20, 2016) - FAB Universal (OTCBB: FABU) announced today that in order to further its business plans in the future, the Board of Directors has agreed to complete the Spin-Off of its Liberated Syndication Inc. (Libsyn) operations through a dividend to its current stockholders.

At the time of the Spin-Off, FAB will distribute all the outstanding shares of Common Stock held by it on a pro rata basis to holders of FAB's common stock. Each share of FAB's common stock outstanding as of 5:00 P.M., New York City, on July 20, 2016, the record date for the Spin-Off (the "Record Date"), will entitle the holder thereof to receive one share of Common Stock of Liberated Syndication, Inc. The effective date of the Spin-off of Liberated Syndication Inc. is August 1, 2016 (the "Distribution Date"). On or shortly after the Distribution Date, the whole shares of our Common Stock will be credited in book-entry accounts for stockholders entitled to receive those shares in the Distribution.

About FAB Universal Corp.
FAB Universal Corp. is in the business of digital media entertainment sales and distribution through three business units: Digital Media Services, Retail Media Sales and Wholesale Media Distribution. FAB is a publicly held Pittsburgh based company, with thousands of shareholders and a world-class team. Visit us on the web at www.fabuniversal.com, email us at contact@fabuniversal.com.

Legal Notice
"Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in some of the information or materials made available on this website. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our change in business strategy towards more heavy reliance upon on our new talent segment and wholesale channels, actions of regulators (either in the US or China) concerning our business operations or trading markets for our securities, the extent to which we are able to develop new services and markets for our services, our significant reliance on third parties to distribute our content, and the level of demand and market acceptance of our services.

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