SOURCE: Next 1 Interactive, Inc.

September 02, 2010 09:00 ET

Next One Interactive, Inc. (OTCBB: NXOI) Announced Today That La Macchia Enterprises Has Become a Strategic Investor and Partner

FT. LAUDERDALE, FL--(Marketwire - September 2, 2010) - Next One Interactive, Inc. (OTCBB: NXOI) announced the closing of a strategic investment and partnership with recognized global travel industry leader La Macchia Enterprises (LME) and its subsidiary, The Mark Travel Corporation. 

Under the terms of the agreement, Mr. William E. La Macchia, Chairman and Founder of La Macchia Enterprises, will join the NXOI Board of Directors and assume a leadership role in the company's direction within the Travel arena. This also includes access to La Macchia Enterprises' significant industry reach, travel booking solutions and advertising opportunities with key suppliers. Furthermore, Mr. La Macchia has invested in NXOI by way of a private placement at $1.00 per share with 2 warrants attached, each exercisable at $1.00 over the next three years. Additionally, The Mark Travel Corporation has made a line of credit available to NXOI, which will be convertible into common stock at $1.00 per share over the next three years.

"The strategic investment and partnership with La Macchia Enterprises is a perfect fit for Next One Interactive, because Mark Travel offerings will be integrated across NXOI media and drive incremental revenues. Our flagship property, R&R TV, is a full-time television network supported by 'video on demand' and enhanced TV applications including broadband and web, focused on vacation travel, real estate and resort ownership with a reach of over 40 million households," stated Mr. Bill Kerby, CEO and Vice Chairman of Next One Interactive Inc.

About La Macchia Enterprises:

La Macchia Enterprises (LME), founded in 1974, is the holding company of The Mark Travel Corporation and Trisept Solutions. Today, The Mark Travel Corporation owns and manages multiple respected vacation brands, such as: Funjet Vacations (a flagship serving more than 350 destinations), Blue Sky Tours, MGM Resorts Vacations, Southwest Airlines Vacations, Mark International, and Funway Holidays UK (a London-based tour operator).

Trisept Solutions is a premier provider of travel distribution technology for airlines, hotels, tour operators and travel agencies. They are the technology behind some of the biggest names in the leisure travel industry making it possible for millions of people to research and purchase their dream vacation online. More than 75,000 travel agent professionals use VAX Vacation Access Worldwide, a leisure travel agent marketing and distribution platform. La Macchia Enterprises has been headquartered in Milwaukee, Wisconsin, for 36 years, with offices in London, Las Vegas, Orlando and Albuquerque generating revenue of over $1 billion, annually.

About Next One Interactive Inc.:

Next One Interactive Inc. (NXOI) is a multi-faceted media company specializing in Travel and Real Estate. Next One delivers targeted content via digital platforms including Satellite, Cable, Broadcast, Broadband and mobile. Along with the full-time R&R TV network, the company delivers its content and sponsors' messages on Video on Demand outlets enhanced by interactive applications. The company also provides content in customized print publications. In today's digital market Next One Interactive delivers targeted information and entertainment to consumers. The company has created multiple revenue streams including transactional commissions, referral fees, branded content, advertising and sponsorship. The multiple revenue streams delivered on integrated media platforms allow for measurable return on investment to its advertisers, sponsors and business partners. For more information, please visit www.nxoi.com

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information

  • Contact:
    John R. Exley III
    Investor Relations
    Next One Interactive, Inc.
    direct line 678-368 4002

    nxoi.acornmediapartners.com