February 27, 2007 09:34 ET

Wi-Fi TV Seeking Equity Sale in Light of Hot Web 2.0 Market and Facebook's Reported Turn Down of $1 Billion Offer and Is Holding Talks in U.S. and U.K. in March

Wi-Fi TV Inc. Meeting With Qualified Investor Groups and Exchange Representatives in U.S. and U.K.

NEWPORT BEACH, CA -- (MARKET WIRE) -- February 27, 2007 -- Wi-Fi TV Inc. (PINKSHEETS: WTVI) announced today that it is actively seeking a one to two part equity sale, perhaps involving an IPO on the AIM/London Stock Exchange, and that it is holding talks in the U.S. and U.K. regarding this. The company has received indications of interest from investment groups in Orange County, CA, Atlanta, New York, and from nominated advisors to the London/AIM Exchange in London, according to company sources.

There can be no guarantee that a deal will be reached, but there are active meetings and discussions as a result of inquiries from both financiers and nominated advisors to stock exchanges regarding equity infusions to Wi-Fi TV Inc., the company announced today. Wi-Fi TV Inc. intends to review these possibilities and will announce a status report no later than the first week of April 2006. The company emphasized that there are no assurances of a deal commencing, but that Wi-Fi TV Inc. has received indications of interest and will actively pursue them. Wi-Fi TV Inc. also announced that it would intend to restructure or refinance its convertible debt as part of any financing agreement.

Wi-Fi TV Inc. noted that the following was reported on by the Associated Press on February 26:

"Besides Facebook, other Web 2.0 startups frequently mentioned as prime takeover targets include online video site Metacafe Inc. and Photobucket Inc., which has emerged as one of the Internet's busiest destinations by hosting personal videos and photos that are routinely linked to top social-networking sites like MySpace and Facebook.

"These sites find themselves at a critical juncture reached several years ago by the Internet's first big social-networking site,, which chose to stay independent instead of selling. That decision is now regarded as one of Silicon Valley's biggest blunders.

"Web 2.0 startups have emerged as hot commodities because they are drawing more people away from television, newspapers and other media traditionally used for advertising. Online video channels and social networks, a catchall phrase attached to sites that enable people with common interests to connect and deepen their bonds, are particularly hot.

"Deep-pocketed companies are now angling for a piece of the Web 2.0 action -- a quest that already has yielded a couple big jackpots, helping to propel the sales prices of startups to their highest levels since the dot-com boom.

"News Corp. paid $580 million in 2005 to buy MySpace, the largest social-networking site, and Google Inc. snapped up video-sharing pioneer YouTube Inc. for $1.76 billion late last year.

"'I'm surprised a lot more companies haven't already been bought,' said Reid Hoffman, a veteran Silicon Valley executive who has invested in many startups, including Facebook. 'My hunch is the deals are only going to get more expensive in 2008 and 2009.'

"'In 2006, the average price paid for a startup funded by venture capitalists rose 19 percent to $114 million. That was the highest amount since the dot-com frenzy of 2000 when the average price of venture-backed startups peaked at $337 million,' according to data from Thomson Financial and the National Venture Capital Association.

"If the dealmaking market continues to heat up, Zuckerberg will end up looking smart for rebuffing Yahoo and other suitors that included Microsoft Corp. and Viacom Inc.

"Assuming Facebook hits its financial targets, the Palo Alto-based company should be able to command a sales price well above $1 billion or pursue an even more lucrative initial public offering of stock in the tradition of Google, Yahoo Inc., eBay Inc. and Inc. -- a group of Internet icons now worth a combined $250 billion.." the Associated Press reported.

Wi-Fi TV Is a Pioneer in Online TV

Wi-Fi TV Inc. has long touted the coming convergence of TV and the Internet and was established twelve years ago, and provided the first online movie in December 1995. The Wi-Fi TV web site is the only place on the Internet where you can watch hundreds of TV stations and chat with others watching the same program in a live chat box directly under the viewing screen, and get breaking news for each country and category listed, and download a dialer and make free phone calls all on one website.

About Wi-Fi TV Inc.

Wi-Fi TV Inc. provides a new generation TV delivery platform that has a geographic sphere out-distancing any traditional cable or over-the-air TV broadcaster. Wi-Fi TV memberships are free at and include such perks as free online phone calls and free chat and free online parties.

Ownership of Wi-Fi TV Stations is available at $25,000 (full details are on the web site Several financing options are available.

The Wi-Fi TV Channel Sales Blog is at

The company was launched in 1995 and has been publicly traded since November 1997, and has been a pioneer in the delivery of video and books over the Internet.

Press Relations

Wi-Fi TV Inc. has opened a content and technology demo room for the press in Newport Beach, California. For further information contact Colby Marceau, (949) 716-9397,

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. Wi-Fi TV and Social Internet TV are trademarks of Wi-Fi TV Inc. and all rights pertaining to these names are reserved. This press release shall not be deemed a general solicitation.

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