Key Developments For Private Media Group, Inc.
Private Media Group, Inc. (PRVT.O) (Consolidated Issue listed on NASDAQ Global Market)
Private Media Group Inc. Completes Acquisition Of Sureflix Digital Distribution
Private Media Group Inc. announced that it has finalized the acquisition of Sureflix Digital Distribution, the digital distribution of premium gay content and owners of maleflixxx .tv, splashshots .com. The acquisition agreement was signed on October 9, 2009 and the agreement provides for the issuance of 3,900,000 unregistered shares, or 6% of total shares outstanding following issuance, of Private common stock to the owners of Sureflix and related companies upon completion of the acquisition, and up to an additional 2,100,000 shares of Private common stock based on earnout targets.
Private Media Group Inc. Announces Expansion of European Strategic Alliance With Beate Uhse AG Subsidiary Into Benelux
Private Media Group, Inc. announced it has expanded its European distribution alliance with Beate Uhse AG, through its subsidiary Scala Agenturen BV, to collaborate in the home video market in the Benelux region. With current distribution arrangements in place for Digital Versatile Discs (DVDs) in Scandinavia and magazines in Germany, the collaboration expands with DVD distribution in the Benelux region (Belgium, the Netherlands and Luxembourg). Going forward it is expected that Private Media Group Inc. and Beate Uhse will explore additional opportunities in other territories.
Private Media Group Inc. Signs Definitive Agreement To Acquire Online Distribution Platform Sureflix
Private Media Group Inc. announced that it has signed a definitive agreement to acquire Sureflix Digital Distribution (Sureflix), the digital distribution of premium gay content and owners of male flixxx. tv, splashshots.com, as well as its extensive international affiliate platform, in exchange for common stock of Private. The definitive acquisition agreement was signed on October 9, 2009 and the transaction is expected to close in November 2009. The acquisition agreement provides for the issuance of 3,900,000 unregistered shares, or 6% of total shares outstanding following issuance, of Private Media Group Inc. common stock to the owners of Sureflix and related companies upon completion of the acquisition, and up to an additional 2,100,000 shares of Private Media Group Inc. common stock based on earnout targets.
Bluebird Films Selects Private Media Group Inc. For Exclusive Global Multi-Channel Content Distribution
Private Media Group Inc. announced its partnership with Bluebird Films for the exclusive management of Bluebird's content distribution worldwide, via all media channels, using Private's global content distribution network. Under the terms of a five year agreement, Private is in charge of bringing Bluebird's content to market across its distribution network, a set of leading platform operators which has invited the company to fill additional shelf space in its new role as an aggregator. The current distribution network includes broadcasting (Sat-TV, Cable, IPTV, DTT, etc.), mobile, Internet e-commerce, DVD and Blu-ray platforms. With respect to IPTV and mobile distribution, the network represents 38 major platforms in 24 countries and 1.2 billion mobile phone users via 104 mobile operators in 45 countries.
Private Media Group Inc. Appoints Ilan Bunimovitz As New CEO
Private Media Group Inc. announced the appointment of Ilan Bunimovitz as Chief Executive Officer (CEO). Mr. Bunimovitz will be replacing Berth Milton as CEO, who will continue to serve as President and Chairman of the Board.
