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Oxford Media Announces the Acquisition of WTI Communications, Inc.19 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 mutual parties have agreed to the
acquisition of WTI Communications, Inc. ("WTI")
http://www.wticommunications.com through OXMI's wholly owned subsidiary,
Creative Business Concepts, Inc. (CBC). The closing of the WTI acquisition
is subject to regulatory approval.
WTI is an Enhanced Service Provider in the emerging technology and
telecommunications space providing and selling bundled technology solutions
to commercial customers in the domestic U.S. market. Effectively, WTI
provides integrated telecommunication solutions, with associated technology
and business consulting. The Company has broad telecommunications
experience and contacts, with further interest in the expanding Voice over
Internet Protocol (VoIP) technology, IP VPN markets, and network security
applications. The key element to these solutions and soon to be cornerstone
of the telecom landscape is the emerging Voice over Internet Protocol
(VoIP). The Company's business segments encompass telephony-based IT
Consulting Services, Network Security Applications, IP and Legacy PBX
systems, Local, Long Distance and Data to SMB and National Account
commercial customers. WTI is also a Competitive Local Exchange Carrier
("CLEC"). The Company is located in Orange County, California.
"The WTI acquisition adds to our value proposition and achieves another
milestone in OXMI's business strategy in becoming a diversified digital
media content and communication technology company. Their management and
business model are accretive to OXMI," states Tom Hemingway, President and
CEO, OXMI.
"WTI looks forward to joining the talented OXMI team. The merged entities
can now offer end users a dynamic solution for voice, data, network
security, disaster recovery, and VoIP deployment. To date, corporations
must engage numerous companies for VoIP deployment which includes routers,
IP phone systems, installation, Network Security, and consulting services.
WTI now with CBC will be able to offer complete communication technology
solutions from one source," states Jim Stepanian, President and CEO, WTI
Communications, Inc.
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
or
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: Oxford Media Inc.
Source: Marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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