SOURCE: ubroadcast, inc.

February 11, 2010 07:25 ET

ubroadcast, inc. Nears Final Agreement Signing to Acquire iVu Media Corp.

SAN DIEGO, CA--(Marketwire - February 11, 2010) - ubroadcast, inc. (OTCBB: UBCI), a leader in Internet Broadcasting, announced today that it has proceeded to the final stage of a definitive agreement for the acquisition of Alexandria, Virginia-based iVu Media Corp., the developer of a state-of-the-art Video Content Management (VCM) system that works in tandem with a High Definition Playback technology. 

With ubroadcast expecting the execution of the definitive agreement shortly, corporate management estimates that the official closing of the iVu Media acquisition will occur within 10 days of the signing. Upon closing, all relevant aspects of the agreement will be disclosed, though the compensation terms of the acquisition are expected to be completed entirely with restricted ubroadcast stock and no debt.

iVu Media's industry-leading video format and uncompromised Digital Rights Management (DRM) software align on a common platform to create a new, comprehensive Content Management System (CMS), resulting in the most flexible all-in-one solution for deploying high-quality internet video to millions of viewers worldwide via the iVu Platform.

The feature-rich iVu platform provides an extraordinary media channel experience to any end-user's desktop or mobile phone. Delivering up High Definition quality, full-screen video over a range of bandwidths, iVu plays flawlessly on virtually every computer with no player to download or install.

This proprietary technology, when coupled with their turnkey internet television platform brings endless possibilities to a broad range of industries and individuals.

iVu Media's clients include Sony, Ford and Honda. Founded in the fourth quarter of 2008, iVu Media had revenues of less than $500,000 in 2009. Headquarted in the United States, iVu Media also has offices in the UK and the Middle East. More information is available at www.iVuMediacom. 

About ubroadcast, inc.

UBCI's allows users to produce and broadcast LIVE and On Demand television and radio in high quality. By blending this user-generated content and UBCI's own original programming in a single application, UBCI bridges the gap between Internet video and traditional network radio and television.

Rolling Stone magazine,,, and ABC News have all given ubroadcast media attention, and The San Diego Business Journal headline stated that the market for ubroadcast programs could be "Larger than MySpace and YouTube."

Broadcasters and viewers can sign up for a free trial account, then start broadcasting LIVE, at

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Safe Harbor Statement

This press release contains statements that may constitute forward-looking statements, including the company's ability to complete a business acquisition. These statements are based on current expectations and assumptions and involve a number of uncertainties and risks that could cause actual results to differ materially from those currently expected. For additional information about UBCI's future business and financial results, refer to UBCI's Annual Report on Form 10-K for the year ended December 31, 2008. UBCI undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of the company, whether as a result of new information, future events or otherwise.

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