WOW -- Guess I should load up at .011, eh?
MediaG3 Partners with One of the Largest Cable Networks in China
December 02, 2008 | By BusinessWire
MediaG3, Inc. (OTCBB:MDGC), a leading developer for broadband wireless product and interactive rich-media content delivery applications, today announced that it will partner with Yung Nan Provincial Cable Network Company in China pilot project to provide broadband wireless backhaul services. The participation of Yung Nan Cable Network Company is a milestone step towards commercialization of MediaG3's wireless broadband applications in China's multi-billion dollar rural coverage market space.
Yung Nan Provincial Cable Network Company owns 113 local cable TV networks and has $1.1B RMB in registered capital, $2.7B in assets with net worth of $1.88B. Yung Nan Province is 8th largest region in China with over 44 million people. Commercialization to cover just 10% of the Yung Nan population will potentially generate over $80M in revenue.
Yung Nan Provincial Cable Network will expedite our transition from trial phase to commercialization, said Gordon Guo, MediaG3's General Manager for China Market. Yung Nan Province is a typical rural area that needs broadband wireless solutions. Guo added.
Partnership with local established cable networks is our strategy to efficiently transform our China business development into financial success, pointed out by Joseph Anzalone, Sr. VP of Operations of MediaG3.
About MediaG3, Inc.
MediaG3, Inc. develops and markets broadband wireless technology products and online applications that empower interactive content delivery to today's fixed and mobile consumers. MediaG3 has signed a $10 million broadband wireless product supply contract. With signed contracts and additional business in discussions, the company is expected to reach over $20M in revenue in 24 months. MediaG3 is developing its integrated business and product lines to offer the best solutions for broadband wireless infrastructures, online and mobile rich-media content delivery. MediaG3 is based in Santa Clara, California and has two wholly owned subsidiaries in China with offices in Shanghai and Shenzhen. www.mediag3.com.
Forward-looking Statements:
Forward-looking statements such as "believe," "expect," "May," "plan," "intend," etc., contained herein are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on the Company's beliefs and assumptions it made using information currently available to it and which reflect current views concerning those future events. Actual results could differ materially. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the volatility of trading markets, the Company's limited operating history, the inability to obtain additional capital, the Company's unproven business model, the risks of doing business in China, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
By BusinessWire
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