VoxPop Worldwide Announces the Closing of Its Acquisition of R&R Music Limited
March 10 2011 - 12:37PM
Marketwired
VoxPop Worldwide Inc. (PINKSHEETS: VOXI) announced today that it
closed its transaction with R&R Music Limited (R&R) for
undisclosed terms. R&R consists of R&R World
(http://www.randrworld.com), a digital music platform that services
the emerging and independent segment of the music industry, R&R
Music, a state of the art music label, and R&R Creative, a
software development, graphic design and online marketing company.
In test mode, with its artist tools and various fan exposure
platforms, R&R World has attracted tens of thousands of users
from over 150 countries across the globe. The imminent full launch
will set it firmly on its way to be the destination site of choice,
for artists, fans and the professionals that work in the music
industry.
International research firm Ovum forecasts that global revenues
from digital music services will grow at a compound annual rate of
more than 60 percent from 2011 to 2015 as consumers recognize the
benefits of being able to access millions of streamed songs for the
price of a CD every month rather than owning individual
downloads.
"R&R World is the keystone in the overall plan and we are
happy to have closed this deal so that we can begin the awesome
programs we are building to get the music into the hands of the
fans," said Phil Quartararo, Co-Chairman of VOXI.
Eric Nicoli, Chairman of R&R and former Chairman and CEO of
EMI Group, will join VoxPop Worldwide, Inc. as Co-Chairman and
David Ritchie, the CEO and Founder of R&R, will take the role
of Chief Innovation and Strategy Officer. Both Nicoli and Ritchie
became Board Directors of VoxPop Worldwide, Inc. in connection with
the closing of the transaction.
David Ritchie, new CISO of VoxPop, said "This is an important
milestone for R&R and VoxPop and, in turn, for the legions of
artists and fans across the world. We have attracted some of the
best people from the worlds of music, media and technology and have
created a meshed platform that addresses most of the issues that
artists and professionals now face. We have made it easier for
everyone who loves music or operates within the music industry to
discover, learn, network and earn and we will continue to innovate
and improve. Eric and I are very excited at the prospects that lie
ahead for VoxPop in combination with R&R."
VoxPop will build and develop internet media properties
including internet radio, television and social media platforms
surrounding independent artists' space. The management includes
veterans of the music, advertising, finance and internet worlds
including Phil Quartararo, founding team member of Virgin Records
America and past President of Warner Brothers Records as Chairman;
Jim O'Mahony, former Global CEO (ex USA) of Saatchi & Saatchi
as Chief Marketing Officer, Josh Eikov from the investment banking,
internet and mobile worlds as CEO, Eric Nicoli former Chairman and
CEO of EMI Group as Co-Chairnan, and David Ritchie, Founder and CEO
of R&R Music Limited, as Chief Innovation and Strategy Officer.
More information on the new management team is available on
www.voxpopworldwide.com.
As always investors are cautioned to be careful of their
investments and to always seek the advice of a financial
professional.
About VoxPop Worldwide, Inc.
VoxPop Worldwide, Inc. is an Internet and mobile media holding
company that has and is seeking to acquire additional full and/or
controlling interests in subsidiary companies and associated
Internet and mobile properties concentrated on internet
broadcasting and on producing and developing content. The spirit of
entrepreneurship provides the engine that drives economic growth
and innovation, both in good times and bad. VoxPop aims to provide
support and service to these innovators through its broad and
comprehensive network of Internet media and platforms.
Forward Looking Statements
Statements made in this press release that are not historical
facts constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, Section 21 of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
necessarily estimates reflecting the best judgment of senior
management and express the Company's opinions about trends and
factors which may impact future operating results. Such statements
rely on a number of assumptions concerning future events, many of
which are outside of the Company's control, and involve risks and
uncertainties that could cause actual results to differ materially
from opinions and expectations. Any such forward-looking statements
should be considered in context with the various disclosures made
by the Company about its businesses. The Company undertakes no duty
to update any forward-looking statement to conform the statement to
actual results or changes in the Company's expectations. For
further information regarding risks, uncertainties, and other
factors associated with VoxPop's business and copies of VoxPop's
press releases and additional information about VoxPop, please
refer to www.voxpopworldwide.com.
VoxPop Contact: Josh Eikov CEO
investor@voxpopworldwide.com
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