Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
SOURCE Single Touch Systems, Inc.
Joint Venture with Personal Media Communications pools IP rights covering digital television transmission, streaming media and live TV broadcasting
JERSEY CITY, N.J., April 23, 2014 /PRNewswire/ -- Single Touch Systems, Inc. (OTCBB: SITO), a technology based mobile media solutions provider, today announced the formation of VideoStar LLC, a joint venture with Personalized Media Communications (PMC). The VideoStar joint venture will exploit unique target licensing opportunities distinct and separate from the current licensing programs of Single Touch and PMC, using Single Touch's video streaming, and PMC's pioneering digital broadcast, delivery and payment patents.
"With the advent of new technologies there are a host of services used to stream broadcast and live content to Internet connected devices. Through the creation of this joint venture with PMC, we are able to exploit specific licensing opportunities with broadcasters concerned with the transmission and distribution of their content over new media distribution and Over-the-Top (OTT) platforms," stated James Orsini, president and CEO of Single Touch Systems, Inc.
PMC's President, Gerald Holtzman added, "We are delighted to partner with Single Touch to exploit this unique opportunity with TV broadcasters interested in safeguarding their content over new distribution channels. We believe the early priority dates of our portfolio pre-dating many of the digital TV and internet-based media distribution standards make them relevant and indispensable to these broadcasters. The successful licensing track record of PMC's IP attests to its value."
Single Touch and PMC retain ownership and control of all of their own intellectual property rights and will continue to independently, or in conjunction with other partners, pursue licensing and monetization of their patents to companies outside the VideoStar joint venture.
Personalized Media Communications, LLC is an inventor-owned and managed company that has developed a portfolio of fundamental patents. Established in 1981 by its founder and lead inventor, John C. Harvey, PMC's intellectual property rights cover a variety of communications systems, devices and networks. PMC inventions address the delivery and presentation of enhanced media content--media that is interactive and often personalized to maximize the interest and engagement of each recipient. The inventions are applicable to any media delivery platform, including traditional, cable or satellite TV and the Internet, and any device, such as cellular phones, set top boxes and game consoles.
PMC inventions enable publishers, advertisers, social networks, businesses, and consumers to enjoy the full benefit of new media content in a variety of ways. Licensees to date include Cisco Systems, Sony, Motorola Mobility, DirecTV, Zynga, and Panasonic. For more information visit www.personalizedmedia.com
About Single Touch Systems, Inc.
Single Touch Systems, Inc. is a technology based mobile solutions provider serving businesses, advertisers and brands. Through patented technologies and a modular, adaptable platform, Single Touch's multi-channel messaging gateway enables marketers to reach consumers on all types of connected devices, with information that engages interest, drives transactions and strengthens relationships and loyalty. For more information about Single Touch Systems, Inc. visit: www.singletouch.net.
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, our reliance on brand owners and wireless carriers, the possible need for additional capital as well other risks identified in our filings with the SEC. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
©2012 PR Newswire. All Rights Reserved.