Oxford Media Announces a Binding Letter of Intent to Acquire PDHK Services for Content Delivery Software21 October 2005
Oxford Media, Inc. (OTC BB: OXMI), a designer and marketer of proprietary Video-On-Demand and pay-for-view entertainment systems offering first-run movie content and network connectivity to the hotel industry, announced today that it has entered into a binding Letter of Intent to acquire PDHK Services, Inc. (PDHK), a privately held company specializing in content delivery software over wireless and IP networks.
PDHK intellectual property and software enables true entertainment choices for consumers by empowering service providers with the technology required to deliver innovative, high-value, interactive services. PDHK technology constitutes the first and most comprehensive solutions specifically designed to enable the delivery of high quality video services over wireless communication links and IP networks, with unprecedented security controls. Until now, wireless broadband connections were unsuitable for high-quality media distribution. This coupled with media storage requirements have made interactive services like video-on-demand, cost-prohibitive if not impossible to implement. PDHK technical breakthroughs address critical issues to allow reductions in capital and operating costs for content distribution and bandwidth utilization.
PDHK's software and technology is the result of a multi-million dollar investment and over four years of research and development. The technology will enable Oxford to add additional services to its upcoming WiMAX deployment such as Video on Demand and other interactive services to drive additional revenue.
"PDHK's technology adds a key intellectual component which will go a long way to fulfilling our strategic goals of adding services to our next phase two WiMAX deployment," states Tom Hemingway, President and CEO, OXMI.
About Oxford Media, Inc.
Oxford Media is a leading developer of Private Broadband Networks (PBN) and proprietary software and hardware, which allows for the delivery of low-cost broadband Internet access as well as video and audio content on demand on a Pay-Per-View basis. The initial line of business is the delivery of Video-On-Demand and pay-for-view entertainment content to small and mid-sized hotels and motels -- a segment of the hotel industry previously underserved and unable to offer such services to their guests. This targeted market of hotel properties with between 50 to 300 rooms, comprises over 2.4 million hotel rooms in the U.S. and represents approximately 56% of the total hotel market. www.oxfordmediainc.com
Special Note Regarding Forward-Looking Statements: Statements in this news release about anticipated or expected future revenue or growth or expressions of future goals or objectives, including statements regarding whether current plans to grow and strengthen the Company's existing business, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements in this release are based upon information available to the Company on the date of this release. Any forward-looking statements involve risks and uncertainties, including the risk that the Company will be unable to grow or strengthen its business due to a lack of capital or an inability to identify acquisition candidates and that the Company may not realize anticipated cost savings or revenue growth opportunities associated with any acquisitions, planned or otherwise. Additionally, forward-looking statements concerning the performance of the Company's business are based on current market conditions and risks, which may change as the result of certain regulatory, competitive or economic events, as well as those risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, which could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
Contact:
Investor Relations:
The Del Mar Consulting Group, Inc.
(858) 794-9500
bprag@delmarconsulting.com
Redwood Consultants, LLC
(415) 884-0348
investorinfo@redwoodconsultants.com
Media Relations
5W Public Relations, LLC
Adam Handelsman, SVP & GM
212.999.5585 x 202
ahandelsman@5wpr.com
Source: Marketwire
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