WESTMINSTER, Colo., Aug. 19, 2009 (GLOBE NEWSWIRE) -- NexHorizon Communications, Inc. (Pink Sheets:NXHZ) today announced that it has executed a letter of intent to acquire all of the assets of Digital Media International, Inc. (DMI), a new media entertainment company with three operating divisions: Dynamic Media Network, the producer and distributor of high definition original TV content on 14 digital TV channels targeted for worldwide Internet, IPTV and iPhone platforms; Dynamic Media Music, the producer and distributor of original music content through its iRecords music label and its ownership of Zuma Pacific Entertainment Inc, and its worldwide distribution output arrangement with ADA/Warner Music Group; and Dynamic Media Pictures, the motion picture production, finance and distribution division. The all stock deal is expected to close in fourth quarter 2009.
Calvin D. Smiley, Sr., NexHorizon Communications CEO, said, "Content is King, someone wise once said about communications, and it is truer than ever. As a high-speed purveyor of entertainment, news, sports, data and telephone services, NexHorizon is delighted to add this very special producer of fine content to our customer-centered programming."
DMI Co-Founders Alan J. Bailey and Skip Fredricks, said, "We are thrilled to have the opportunity of joining Cal Smiley and his team at NexHorizon in this groundbreaking alliance. We will be able to marry our multi-media content and distribution channels with one of the most innovative and fast growing regional cable companies delivering diversified and exciting new programming."
About NexHorizon Communications, Inc.
NexHorizon Communications, Inc. (Pink Sheets:NXHZ) is focused on delivering broadband solutions to rural communities through strategic acquisitions and mergers. On January 1, 2008 NexHorizon Communications acquired the assets of Chula Vista Cable, LLC and the stock of National City Cable, Inc., which we renamed NexHorizon Broadband of Southern CA, Inc. ('NBSC'). In October 2008, NexHorizon Communications executed a definitive agreement to acquire certain assets and subscribers from Story Communications, passing more than 10,000 homes in the rural communities of Oklahoma. NexHorizon is focused on delivering a true "triple-play" of digital video, High-Speed data, Voice over Internet Protocol (VoIP), and other related broadband solutions. The Company plans to acquire additional rural cable television systems and synergistic technology to assist in executing its Strategic Business Plan.
SAFE HARBOR STATEMENT
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by NexHorizon Communications, Inc. (NexHorizon) may differ materially from these statements due to a number of factors. NexHorizon assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.