IRVINE, CA--(Marketwired - Feb 6, 2014) - Irvine-based Ubiquity Broadcasting Corp. (OTCQB: UBIQ) today announced that it has entered into a non-binding term sheet to acquire ZUUS Media, a next generation media company operating the ZUUS multi-platform music video network.
According to Billboard, "ZUUS (is) a new music service for the Web, iOS, Android and Television... the Pandora for video via curated music video channels based on genre, decade and even mood." Users can search a carefully selected menu of expertly programmed music video channels that cater to a wide array of personal tastes. They simply click on the channel they like (as they would for Pandora) but instead of audio alone, the artist's music video plays for the complete immersive visual experience.
ZUUS offers four genre-specific music television channels (ZUUS Country, ZUUS Latino, ZUUS Hip Hop + R&B and ZUUS Hits), currently available in over 60 million US households and growing. The network also presents over 150 curated digital video channels available across Mobile, Tablet, Web, Facebook, and Connected TV platforms.
In addition to its extensive catalogue of premium music videos, ZUUS produces and broadcasts original content, including live footage, behind-the-scenes access, interviews, artist-hosted shows, and more. The acquisition is expected to create cross-selling opportunities for Ubiquity's core product and service segments.
"We are excited about the addition of ZUUS to our portfolio of Web 3.0 capabilities. The transaction will enable us to integrate ZUUS as a business division of Ubiquity, where it will be able to further develop and scale with the support of our infrastructure, intellectual property, technology and capabilities. In addition, the team at ZUUS brings a world-class network of creative talent and we look forward to working with them to continue building ZUUS Media's prominence in the market," said CEO Chris Carmichael.
Part of Ubiquity's strategic plan is to acquire companies and enable them with its patented technology. This allows Ubiquity to bring companies to the forefront by providing a competitive advantage with its extensive patent portfolio and cutting edge technologies while leveraging the revenue opportunities.
Steve Goldstein, ZUUS co-founder and CEO, shared his excitement, "We at ZUUS are thrilled with the prospect of joining forces with Ubiquity. The ZUUS multi-platform network will provide an invaluable showcase for many of Ubiquity's products, assets and capabilities. We look forward to building on Ubiquity's unique strengths to enhance our audience's total experience across our television and digital platforms."
The ZUUS transaction is valued at roughly $30,000,000. To satisfy the purchase price, the Company intends to issue shares of Ubiquity restricted common stock with a price per share to be determined on or as of the date of the closing of the purchase.
The pending acquisition is conditional on board approval, regulatory approval, due diligence and the negotiation of definitive documentation.
About Ubiquity Broadcasting Corp.
Based in Irvine, CA. Ubiquity is a vertically integrated, technology-focused media company. Ubiquity is focused in five specific areas with a robust portfolio of patents and intellectual property. First, the Company has developed an intuitive user interface making access to all content from any device in a simple, consistent format. Second, Ubiquity enables the search and identification of any object and image in all video and digital media. Third, it has developed a platform for mobile transaction including the integration of payments, money transfers, coupons and gifts. Ubiquity has also developed an industry-leading, intuitive, immersive consumer experience for all web-based activity. Finally, the company allows for the personalization of all content, whether public or private, in a unique accessible way.
Through Ubiquity Labs we are leveraging an extensive portfolio of intellectual property spanning Web 3.0, immersive advertising, video compression, content distribution, eCommerce, and mobile applications to support the commercialization of new technologies. In addition, we intend to pursue strategic licensing opportunities. Through Ubiquity Studios, we provide we engage in the commercial production, distribution and exploitation of entertainment products including but not limited to television, commercials and film. For more information go to www.ubiquitycorp.com.
About ZUUS Media
"ZUUS: The Music Video Network curated by Music Experts and Artists." ZUUS Media is a next-generation multi-platform video entertainment and distribution company that operates ZUUS, a groundbreaking, multi-screen music video network with curated discovery at its core. ZUUS is an expertly programmed viewing experience that enables multi-tasking audiences to enjoy music video entertainment in ways that match their lifestyle.
ZUUS presents four genre-specific TV channels (ZUUS Country, ZUUS Latino, ZUUS Hip Hop + R&B and ZUUS Hits), currently available in over 60 million US households, plus over 150 complementary digital video channels available across Mobile, Tablet, Web, Facebook, and Connected TV platforms.
ZUUS users can browse digital channels by Genre, Decade, Mood, Original Programming, and "If You Like..." artist channels, with more to come! ZUUS is the premier "lean-back" destination in the world of music video entertainment. Visit www.zuus.com to learn more. Why Just Listen?
This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
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