FOR IMMEDIATE RELEASE --
bNET Communications, Inc. enters into LOI with Emerging Media Holdings
Online Media Company Expands into TV Production and Broadcasting Operations
NEW YORK, Sept 26, 2011 – bNET Communications, Inc. (“bNet”) is please to announce that it has entered into a letter of intent with Emerging Media Holdings, Inc. (“EMH”) to sell all of its digital media library, GoMO News, Ltd., and certain other intellectual property in exchange for a controlling interest in EMH .
In connection with the proposed transaction, EMH will also appoint a current member of bNet’s board of directors to EMH’s board of directors. The proposed transaction will be subject to a definitive agreement and will be submitted with the required regulatory authorities and be subject to shareholder approvals.
EMH will continue to operate its TV production and broadcasting operations in the Republic of Moldova, which is located between Romania and Ukraine in Eastern Europe. EMH’s primary TV production and broadcasting operations are the television station TV7, and the rebroadcast of TNT Bravo and the Disney channel.
bNet provides professional video and media over IP-based networks for emerging technology companies and has compiled a vast digital library of information from various business sectors. Over the last ten years, bNET has amassed a library of more than 25,000 interviews and 5,000 hours of live conference coverage.
About Emerging Media Holdings
Through its Moldovan subsidiaries, EMH's primary activities are in radio and television broadcasting. EMH was granted a broadcasting license in 2005 which extends through 2012 and earns revenue primarily through advertisement sales.
About bNET Communications
Through its wholly owned subsidiary bnetTV.com, Inc., bnettv Inc., and GoMO News, Ltd., is a content aggregator, internet broadcasting company and accredited media organization that creates and distributes video content pertaining to new technology, primarily at corporate and consumer events, trade shows and conferences. bNet has been streaming live broadcasts of corporate annual meetings over the Internet for many large and small firms, awards shows for various industries. Recently, the company’s has focused on covering emerging technology events, specifically in the telecommunications, wireless and mobile markets. For more information, visit www.bnetTV.com.
Media contact
Ria Nielsen
122 West 26th Street, 5th Floor
New York, New York 10001
Tel: (917) 720-3541
ria@bnetTV.com
www.bnetTV.com
This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Such forward-looking statements involving bNET Communications, Inc., and any of its subsidiaries. Including bnettv.com, Inc.; BNETTV Inc.; and GoMo News cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance, and actual results or developments that may differ materially from projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
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