Chob
Tweet
IO World Media Announces Consensus on Terms of a Share Exchange Agreement to Acquire, “Up Your Ratings”
More here: http://ih.advfn.com/p.php?pid=nmona&...19&symbol=IWDM
IO World Media (“IOWorld” or “the Company”) (OTCQB: IWDM) announces that it has agreed to terms of a Share Exchange Agreement to acquire “Up Your Ratings” (UYR) in a stock-for-stock transaction. Execution of the finalized Share Exchange Agreement and closing of the transaction is scheduled to be on or before September 30, 2011. UYR, which is owned by Randy Michaels and Marc Chase, is a private company with unique intellectual property that has been developed by Mr. Michaels and his team. UYR’s pure play recommendation system (ScenarIO) is designed to deliver a one-to-one, vs. a one-to-many, consumer preference based custom audio product that is specific to the users tastes, locations, moods or activities thus creating a unique audio experience to fit their “ScenarIO”. Also included in the UYR IP are design plans for a proprietary state of the art audio storage, retrieval, and distribution system that eliminates the need for a Content Distribution Network.
In addition, both Mr. Michaels and Mr. Chase will be Strategic Advisors to the Company. Their participation as advisors to the leadership team with their unique, distinctive, market leading perspective and their vast industry knowledge, experience and contacts is potentially the most significant asset of the transaction.
“Since the Company’s inception, everyone who has worked on this project has had the single goal of making the Company a leader in the Internet Media World,” commented Tom Bean, CEO of IO World. “The acquisition of Up Your Ratings and its intellectual property, combined with the leadership and expertise of Randy and Marc as special advisors to the company, is a move that will without a doubt create differentiation and provide a competitive advantage for IWDM. This is a big step in the right direction in the Company’s efforts to be a leader in the digital revolution.”
“IOWorld and RadioIO have long been innovators and pioneers in the Internet Radio Space including most recently with the launch of RadioIO Live® and The Bubba the Love Sponge® show,” stated Randy Michaels. “Marc and I look forward to continuing that tradition of innovation and with UYR’s IP and IOWorld’s platform we will implement a plan for internet radio that combines the best practices of traditional media with the most successful interactive characteristics of leading internet businesses. Traditional media is one to many. The distribution system itself creates a barrier to entry and creates market power. Mobil/Interactive digital is two way and can be one to many, one to some, or one to one.”
In addition, both Mr. Michaels and Mr. Chase will be Strategic Advisors to the Company. Their participation as advisors to the leadership team with their unique, distinctive, market leading perspective and their vast industry knowledge, experience and contacts is potentially the most significant asset of the transaction.
“Since the Company’s inception, everyone who has worked on this project has had the single goal of making the Company a leader in the Internet Media World,” commented Tom Bean, CEO of IO World. “The acquisition of Up Your Ratings and its intellectual property, combined with the leadership and expertise of Randy and Marc as special advisors to the company, is a move that will without a doubt create differentiation and provide a competitive advantage for IWDM. This is a big step in the right direction in the Company’s efforts to be a leader in the digital revolution.”
“IOWorld and RadioIO have long been innovators and pioneers in the Internet Radio Space including most recently with the launch of RadioIO Live® and The Bubba the Love Sponge® show,” stated Randy Michaels. “Marc and I look forward to continuing that tradition of innovation and with UYR’s IP and IOWorld’s platform we will implement a plan for internet radio that combines the best practices of traditional media with the most successful interactive characteristics of leading internet businesses. Traditional media is one to many. The distribution system itself creates a barrier to entry and creates market power. Mobil/Interactive digital is two way and can be one to many, one to some, or one to one.”
Comment