• Comment
• Print Article
• Email
• Permalink

ROO Plans Asset Acquisition of Wurld Media

Written on

Feb 27, 2007 

Author

Sarah Novotny  |

Share

ROO Plans Asset Acquisition of Wurld Media

ROO Group today announced the planned asset acquisition of Wurld Media, which is aimed to enrich ROO’s video offerings with social networking, peer-to-peer distribution, digital ecommerce and comprehensive digital rights management expansion.

The letter of intent signed by ROO states that the online video outfit will offer $10 million for Wurld Media’s assets, paid both in cash and ROO common stock at $4.39 per share. Specifically, ROO will advance $1.5 million to Wurld Media immediately with a promissory note to support the advance. At the time of closing, ROO will pay $6.5 million in stocks or cash and an additional $2 million in ROO stock will go to Wurld Media with the achievement of milestones. The transaction is said to close in 120 days or sooner.

In a press statement, ROO CEO Robert Petty comments, “ROO’s existing customers such as News Corp., Verizon and The Street.com will have access to significant new market-derived functions along with additional opportunities for monetizing their investments in video. This provides ROO incredible competitive advantage in addition to new revenue opportunities. The acquisition of the technology and solutions from Wurld Media will enable our existing and future clients to engage their audiences at every digital touchpoint including online, mobile and IPTV in a market where enhanced distribution capability is leading the way on a global bases.”

Wurld Media was established in 1999 and specializes in P2P distribution of music, movies, games and TV shows. The company plans on continuing existing content deals with major studios and labels including 20th Century Fox, WB, Universal, Sony, Warner, EMI, Fox Music, and Activision after the acquisition closes.

Tags: acquisitions, ROO and streaming_video

• Comment
• Print Article
• Email
• Permalink

Article Sponsor

More News

• BlueKai Report Explains DMPs to Publishers
• Funding in Brief: $10M for Spongecell, $8M for Prolexic
• Google AdMob Axes Minimum Bids, Targeting Fees
• Infographic: HootSuite Analyses Social Media Impact of Super Bowl Ads
• Facebook to Serve Mobile Ads in Coming Weeks

• Right now, at the beginning of 2012, what are you watching the most closely for its ad and marketing opportunities?

  • Mobile. Smart devices have become standard, and advertising is only going to become more creative there.
  • Online video. It's a real competitor to TV now, and it presents really interesting ways to engage viewers.
  • Social media. The new Facebook timeline and the surge of Google+ have cracked the game wide open again.
  • Tempting as it might be, I don't want to get too involved in one aspect.
  • See, I think this might be a good time to see what would happen if we revisited MySpace, but made the ads slightly bigger... with more strobe effect.

  View Results

   Loading ...

• Polls Archive

Latest News

• BlueKai Report Explains DMPs to Publishers February 10th 2012 ADOTAS - BlueKai released a report this week on the [...] more »
• Funding in Brief: $10M for Spongecell, $8M for Prolexic February 9th 2012 ADOTAS – Rich media ad company Spongecell has raised $10 million [...] more »
• Google AdMob Axes Minimum Bids, Targeting Fees February 9th 2012 ADOTAS - As of Feb. 15, Google will change its [...] more »
• Infographic: HootSuite Analyses Social Media Impact of Super Bowl Ads February 7th 2012 ADOTAS - So, it’s the Tuesday after the Super Bowl, [...] more »
• Facebook to Serve Mobile Ads in Coming Weeks February 6th 2012 ADOTAS – According to a Financial Times report, Facebook will [...] more »
• Survey: 39 Percent of Mobile Users Responded to Super Bowl Ads Via Mobile February 6th 2012 ADOTAS - During the Super Bowl yesterday, mobile ad network [...] more »
• Sponsormob Leads the Way Into RTB for Mobile February 3rd 2012 ADOTAS – For more than half a decade, Berlin-based tech [...] more »

News Archive

Features

• BlueKai Report Explains DMPs to Publishers February 10th 2012
• Attribution Online: Introducers and Influencers and Closers… Oh My! February 9th 2012
• With gTLDs, Global Branding Starts with a Name February 9th 2012
• Rethinking the Online Advertising Ecosystem, Part One: Independent Publishers February 8th 2012
• Case Study: Social Ad Effectiveness February 8th 2012

Features Archive

Spotlight

Sponsormob Leads the Way Into RTB for MobileADOTAS – For more than half a decade, Berlin-based tech firm Sponsormob has remained relevant in an industry characterized by [...] more...

Reader Favorites

Classifieds

• PS Technical Writer - SEO Data Analyst
• Interactive Project Manager
• Media Buyer
• PHP Software Engineer (Facebook Platform/Social AP
• SEO/Marketing Internship at Green Education Startu

Recent Comments

• HootSuite Social Media Management » More Apps, Open API, and the Solution Partner Program ~ News Roundup: [...] mentioned in our HootSuite’s Super Bowl XLVI Social Media Recap, adotas and MediaPost analyzed our
• News about Google Adwords issue #412: [...] ads for AdWords to adCenter and align with industry standards, adCenter has chang
• VB: What exactly makes an ad "high quality"?
• Survey: 39 Percent of Mobile Users Responded to Super Bowl Ads Via Mobile - ADOTAS | Mobile2 | Scoop.it: [...] background-position: 50% 0px; background-color:#222222; background-repeat : no-repeat; }