OTCBB Penny Stock News
Jul 24, 2008 9:00:00 AM
LONDON, UNITED KINGDOM -- (MARKET WIRE) -- 07/24/08 -- PlayBOX (US) Inc. ("PlayBOX") (OTCBB: PYBX), a global media entertainment distribution company, today announced its plans to acquire New Visions Mobile ("NVM"), a mobile music company that creates social networks for artists and music brands across mobile networks.
The two companies have been in negotiations since March 2008, and have now agreed to sign a Letter of Intent to merge.
"NVM's demonstrated success and expertise at building an exciting international client base including music labels such as Universal and EMI, and is a perfect fit for PlayBOX," said PlayBOX CEO Laurie Adams. "We are actively growing our mobile distribution channel and a merger with NVM would bring us to the forefront of this latest method of distributing media entertainment."