SOURCE: JumpTV Inc.

October 21, 2008 11:04 ET

JumpTV Announces Cancellation of Admission to Trading on AIM Market

TORONTO--(Marketwire - October 21, 2008) - Further to the announcement by JumpTV (TSX: JTV) (AIM: JTV) in relation to its merger with NeuLion Inc. ("NeuLion") today, it is anticipated that following the approval of all resolutions proposed at its special general meeting, the cancellation of admission to trading of the Company's common share on the AIM market is expected to take effect from 7.30am on Monday 27 October 2008.

The Board of Directors appointed Nancy Li, a Board member, as CEO of the merged entity. Nancy Li, served as CEO of NeuLion since December 2003. Prior to forming NeuLion, Ms. Li established iCan SP, a wholly owned subsidiary of CA Inc., formerly known as Computer Associates International, Inc. ("Computer Associates"). Before establishing iCan SP, Ms. Li was Executive Vice President and Chief Technology Officer for Computer Associates. After joining Computer Associates in 1978, Ms. Li held a series of management positions covering virtually every facet of the company's business from a development and engineering perspective. Ms. Li holds a Bachelor of Science degree from New York University. Save as disclosed in this announcement, there is no further information to be provided in accordance with paragraph (g) of Schedule 2 to the AIM rules.

About NeuLion and JumpTV

Based in Plainview, NY, Sanford, Florida and Toronto, Ontario, NeuLion and JumpTV (TSX: JTV) work 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 NFL, the NHL, NCAA Divisional I schools and conferences and, in respect to international television aggregators and networks, KyLinTV (Chinese content), ABS/CBS (Philipino), Talfazat (Arabic), TV Desi (South Asia), Sky Angel (Christian). Customer/partner content can be viewed by way of IPTV on PCs and on the television through the Company's proprietary set top box. Through the Company's consumer websites: JumpTV.com, Cycling.TV and SportsYa.com, as well as its collegiate and sports partner websites, the Company streamed over 15,000 live sporting events in the past 12 months and ranks consistently as one of the top ten ranked US sports web sites as measured by minutes viewed.

Forward-Looking Statement

Certain statements herein relating to JumpTV's merger with NeuLion, Inc. are forward-looking statements and represent JumpTV'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: approval by the TSX of the merger and private placement, the integration of the businesses of JumpTV and NeuLion, 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 NeuLion 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. More detailed assessment of the risks that could cause actual results to materially differ than current expectations is contained in the "Risk Assessment" section of the company's 2007 annual MD&A filed on www.sedar.com.

Contact Information

  • Press/Investor Relations Contact:

    G. Scott Paterson
    Vice Chairman
    416-368-6464
    Email Contact

    AIM NOMAD CONTACTS:
    UK
    Neil Johnson / Andrew Chubb
    Canaccord Adams Limited
    +44 207 050 6500