DigitalPost Interactive Inc. (fka DGLPQ)

[mike306oh]

Great DGLPQ News

1.Today's News - Cash in the bank (see #1)

2. Initial DGLP News

Cash from the sale to be used to pay out debt. Company will concentrate on its main line of business.

My take on it: We should see an early Ch 11 exit, and what happens thereafter to the p/s of DGLP not hard to guess.

Mike
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#1 Today's news

Local.com(R) Closes Acquisition of Rovion(R), Inc.Last update: 5/9/2011 7:00:08 AMIRVINE, Calif., May 09, 2011 (BUSINESS WIRE) -- Local.com Corporation (LOCM), a leading online local media company, today announced that it has completed the acquisition of the assets of Rovion, Inc. ("Rovion"), a wholly-owned subsidiary of DigitalPost Interactive, Inc. Local.com entered into a definitive agreement to acquire Rovion on April 4, 2011. Under the terms of the agreement, Local.com acquired the assets of Rovion for approximately $2.3 million in cash.

About Local.com(R) Local.com Corporation (LOCM), a leading online local media company, enables brick-and-mortar businesses to connect with online customers using a variety of digital marketing products. The company reaches more than 20 million consumers each month on the flagship Local.com website, 1,400 regional media sites and more than 100,000 geo-category websites. The company distributes daily deals via Spreebird.com, rich media ads via Rovion.com, and real-time product inventory information from more than 50,000 retailers nationwide via Krillion.com. To advertise, or for more information, visit: . About Rovion(R) Rovion is a rich media advertising company which sells, creates, delivers and tracks rich media advertising including animated and video-based ads for local and national advertisers, including CBS Radio, Cisco and LendingTree.

Forward Looking Statements All statements other than statements of historical fact included in this document regarding our anticipated financial position, business strategy and plans and objectives of our management for future operations, are forward-looking statements. When used in this report, words such as 'anticipate,' 'believe,' 'estimate,' 'plans,' 'expect,' 'intend,' 'projects,' 'feel' and similar expressions and phrases, as they relate to Local.com or our management, identify forward-looking statements. Any forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to our management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, Yahoo!-Bing paying less RPC and revenues to us for our search results, our ability to adapt our business following the Yahoo!-Bing integration or to improve our RPCs and revenues following that integration, our ability to monetize the Local.com domain, including at a profit, our ability to retain monetization partners for the Local.com domain and other web properties under our management that allows us to operate profitably, our ability to incorporate our local-search technologies, our ability to market the Local.com domain as a destination for consumers seeking local-search results, our ability to grow our business by enhancing our local-search services, including through businesses we acquire, the future performance of our OCTANE360 business, the integration and future performance of our social buying business, the integration and future performance of our Krillion business, the integration and future performance of the Rovion business, our ability to successfully expand our Spreebird business into new markets, the possibility that the information and estimates used to predict anticipated revenues and expenses associated with the businesses we acquire are not accurate, difficulties executing integration strategies or achieving planned synergies, the possibility that integration costs and go-forward costs associated with the businesses we acquire will be higher than anticipated, our ability to successfully expand our sales channels for new and existing products and services, our ability to increase the number of businesses that purchase our subscription advertising and other business products, our ability to expand our advertiser and distribution networks, our ability to integrate and effectively utilize our acquisitions' technologies, our ability to develop our products and sales, marketing, finance and administrative functions and successfully integrate our expanded infrastructure, as well as our dependence on major advertisers, competitive factors and pricing pressures, changes in legal and regulatory requirements, and general economic conditions. Any forward-looking statements reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this paragraph. Unless otherwise stated, all site traffic and usage statistics are from third-party service providers engaged by the company. Our Annual Report on Form 10-K/A, subsequent Quarterly Reports on Form 10-Q and recent Current Reports on Form 8-K and Form 8-K/A, and other Securities and Exchange Commission filings discuss the foregoing risks as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason. SOURCE: Local.com Corporation Media Relations Contact: Local.com Cameron Triebwasser 949-789-5223 [e-mail]

#2 Earlier News

IRVINE, Calif., Feb. 16, 2011 (GLOBE NEWSWIRE) -- DigitalPost Interactive, Inc. (OTCBB:DGLP), a digital media-sharing and online advertising company, announced that it has executed an Asset Purchase Agreement for the sale of the assets of its wholly-owned subsidiary, Rovion Inc., to Local.com Corporation (Nasdaq:LOCM), a leading online local media company.

Under the terms of the Agreement, which is subject to approval by the holders of a majority of DigitalPost's common stock and consents from certain DigitalPost debtholders, Local.com will pay $1.5 million in cash, $400,000 of which is to be held in escrow and released to DigitalPost if certain Rovion performance criteria are met in the first six months after closing.

The Agreement also provides an earn-out provision, under which up to $7 million in cash and/or Local.com common stock is to be paid to DigitalPost if certain performance criteria are met in the three-year period following the closing. All funds received by DigitalPost from the sale shall be used to pay its debts and liabilities; any remaining amounts are to be distributed pro rata to DigitalPost stockholders.

As required by the Agreement, DigitalPost intends to hold a special stockholder meeting to approve the transaction. The related preliminary proxy statement is scheduled to be filed with the Securities and Exchange Commission within 10 days and the definitive proxy statement will be mailed to all DigitalPost stockholders upon the conclusion of the SEC's review process.

Should DigitalPost stockholders approve the sale and the relevant consents are obtained from the debt holders, and all other remaining closing conditions are met, the asset sale is expected to close in mid-May of this year. Thereafter, DigitalPost expects to deregister its common stock and become a non-reporting entity and begin to wind down operations.

DigitalPost Chief Executive Michael Sawtell remarked, "While Rovion's business has shown great promise as we expected, the media sharing segment of DigitalPost's business has continued to decline, primarily because of challenging business conditions and a still slow recovering economy. Because of these conditions, the resulting drain on capital, and the lack of financing options," Sawtell continued, "we have been approaching a gap between our need for capital and funds to maintain the media sharing business as a viable ongoing entity."

"The sale of the Rovion assets would provide much needed capital to satisfy our debtholders," stated Sawtell. "And the earn-out provision gives DigitalPost stockholders a continuing stake in Rovion's longer-term potential."

About Rovion, Inc., a subsidiary of DigitalPost Interactive, Inc.

Rovion is the leading provider of talent-based rich media content development, delivery and reporting, meeting the needs of online publishers and advertisers globally. Rovion specializes in complex video-based ads both in and outside of existing ad placement locations and is best known for its invention of the InPerson(TM) video spokesperson ad unit. Rovion is headquartered in Boston, Massachusetts. For more information about Rovion, please visit www.rovion.com. For more info about DigitalPost Interactive, please visit www.dglp.com.

The DigitalPost Interactive Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7260