Modavox Signs Letter of Intent to Acquire World Talk Radio, Inc.Acquisition Will Create the World's Largest Internet Talk Radio Audio coverage of news events digitized into Internet files at the National Press Building in Washington, DC. ITR files are distributed to FTP sites for users with computers that have sound capabilities. Network PHOENIX -- Modavox, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : MDVX), Internet broadcasting Internet Broadcasting (formerly Internet Broadcasting Systems), or IBS, is a provider of television station web sites. IBS hosts over 70 local stations' sites, and co-produced NBCOlympics. pioneer, producing and syndicating online audio and video, today announced it has signed a Letter of Intent to acquire San Diego-based World Talk Radio, Inc. World Talk Radio, Inc., the one-time rival of Modavox's VoiceAmerica Networks, will bring more than 50 new Internet See Web 2.0 and Internet2. Radio Shows with hosts and topics that, where applicable, will be syndicated into the VoiceAmerica Networks of Modavox. The World Talk name and successful channels will be preserved and enhanced with BoomBox Radio patented technology and an enhanced website at WorldTalkRadio.com. In addition, Modavox will experience an infusion of talented management, sales infrastructure and a presence in the all important Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, market for both the Internet Radio Listening to audio broadcasts via the Internet. There are more than 4,000 broadcasts available on the Internet that can be streamed and played by a software media player in the computer or in a stand-alone Internet radio with the software built in. and Interactive Divisions of Modavox. Modavox's VoiceAmerica Director of Networks, Jeff Spenard, stated, "Welcoming over 50 new Internet Radio clients to VoiceAmerica and an experienced group of co-workers to Modavox is something we are truly excited about." Mr. Spenard continued, "World Talk Radio has been built out with the same general business model as utilized in our VoiceAmerica Networks, and we believe the adoption of our patented BoomBox Radio technology as well as the benefits of Modavox advertising and technical infrastructure, management and our Interactive Division will provide for tremendous opportunity and forward operation of World Talk Radio." "This is a comprehensive strategy to maximize shareholder value in Modavox. We have and will continue to grow both divisions of Modavox organically. However, synergistic and accretive acquisitions Accretive Acquisition An acquisition that will increase the acquiring company's EPS. Notes: As they are expected to increase the acquiring company's future earnings, these acquisitions tend to be favorable for the company's market price. such as this proposed with World Talk Radio are ways we can accelerate our plan and achieve significant gains in revenue and future opportunities to create it," stated David Ide, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Modavox. "At Modavox we are well aware of the challenges and difficult market conditions that VoiceAmerica and World Talk Radio endured in years past as competing entities in adjacent markets. However, by joining forces we can focus on capturing and maximizing all the opportunities within both organizations and those we've just created through this perfectly timed event." About World Talk Radio World Talk Radio Inc. (www.worldtalkradio.com) has over 50 regularly presented unique weekly Internet Talk Radio shows. The Company's mission is to build and maintain the leadership position in Internet talk radio and related, progressive media while providing quality programming worldwide through an ever-expanding distribution network. About Modavox Modavox, Inc. (www.modavox.com), a pioneer in Internet broadcasting, producing and syndicating online audio and video, offers innovative, effective and comprehensive online tools for reaching targeted niche communities worldwide. Through patented Modavox technology, Modavox delivers content straight to desktops and Internet-enabled devices. Modavox provides managed access for live and on-demand Internet Radio Broadcasting, E-learning and Rich Media Advertising. Forward-Looking Statements This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Modavox's actual results to differ materially from those currently anticipated, including the risk factors identified in Modavox's filings with the Securities and Exchange Commission. |
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