SOURCE: VoxPop Worldwide, Inc.

VoxPop Worldwide, Inc.

January 24, 2011 08:37 ET

VOXI Signs Letter of Intent to Acquire Digital Assets

Leading Digital Media Company Acquires Assets

LOS ANGELES, CA--(Marketwire - January 24, 2011) - VoxPop Worldwide, Inc. ("VOXI" or "VoxPop") (PINKSHEETS: VOXI) today announced that it has reached an agreement with the owners of R&R Music Limited (R&R) of Great Britain to purchase all of the share capital together with the assets (IP), websites, and the research and development business of that company for an undisclosed amount. R&R's foundation website R&R World (www.randrworld.com) provides for independent musicians and the managers who work with them a series of leading edge web tools that act as a digital artist and repertoire (A&R) platform for the discovery and exposure of their music to fans and other users of music content across the globe. R&R World, which in beta test mode has attracted over 20,000 users including over 5,000 artists and seen participation in 176 countries, is both a compelling entertainment and learning platform and a global, online marketplace in which those who create music are brought together with those who use or consume it, to do business. It will be central to VoxPop's mission to create the social network of choice for the vast community of performing artists and their fans, songwriters, music professionals and hobbyists, around the world.

"It's an exciting and fast growing time in the music industry," said Josh Eikov, CEO of VOXI. "According to EMarketer, the global music business is expected to do $67.6 billion in sales this year, with more than $14 billion of that expected to be from digital music sales. Our acquisition of R&R Music gives us a keystone platform to launch our independent artist and music community. By combining a digital discovery and exposure platform with the distribution of internet radio and other broadcast opportunities, VoxPop Worldwide is setting the stage for creating a music revolution."

R&R Music and R&R World were founded by software entrepreneur David Ritchie and Eric Nicoli, the former Chairman and CEO of EMI Group plc and CEO of United Biscuits plc. On completion of the transaction, Mr. Ritchie will join VoxPop as CTO and a Member of the Board of Directors, and Mr. Nicoli will also join the Board of Directors and become Co-Chairman with Phil Quartararo, a VoxPop founder director.

"David and I are looking forward to working with old friends and the team at VoxPop Worldwide," said Eric Nicoli, Chairman of R&R Music. "The distribution platform that is being built on top of the content gathering machine that we have built at R&R will produce an extraordinary result for artists, fans and advertisers."

The transaction is subject to each company's board approval and is expected to close within thirty days.

VoxPop will build and develop internet media properties including internet radio, television and social media platforms surrounding independent artists' space. The new management team that replaced Moses Cross and John Adams includes veterans of the music, advertising and internet worlds including Phil Quartararo, founding team member of Virgin Records America and past President of Warner Brothers Records as Chairman; Jim O'Mahony, former Global CEO (ex USA) of Saatchi & Saatchi as Chief Marketing Officer, and Josh Eikov from the internet and mobile worlds as CEO. More information on the new management team is available on www.voxpopworldwide.com.

As always investors are cautioned to be careful of their investments and to always seek the advice of a financial professional.

About VoxPop Worldwide, Inc.

VoxPop Worldwide, Inc. is an Internet and mobile media holding company that has and is seeking to acquire additional full and/or controlling interests in subsidiary companies and associated Internet and mobile properties concentrated on internet broadcasting and on producing and developing content. The spirit of entrepreneurship provides the engine that drives economic growth and innovation, both in good times and bad. VoxPop aims to provide support and service to these innovators through its broad and comprehensive network of Internet media and platforms.

Forward Looking Statements

Statements made in this press release that are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are necessarily estimates reflecting the best judgment of senior management and express the Company's opinions about trends and factors which may impact future operating results. Such statements rely on a number of assumptions concerning future events, many of which are outside of the Company's control, and involve risks and uncertainties that could cause actual results to differ materially from opinions and expectations. Any such forward-looking statements should be considered in context with the various disclosures made by the Company about its businesses. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. For further information regarding risks, uncertainties, and other factors associated with VoxPop's business and copies of VoxPop's press releases and additional information about VoxPop, please refer to www.voxpopworldwide.com.

Contact Information