--(www.USEquityNews.com)-- 09/22/2008 - Entertainment industry alert provided by U.S. Equity News. XFMedia (Nasdaq: XFML), a leading media group in China, announced that it has invested US$ 2 million for a 15.5% stake in All Sports Network ("ASN"). ASN is scheduled to be launched by Hong Kong based Yes TV in September 2008. XFMedia has exclusive distribution rights via mobile, television, internet and radio, to ASN's content in China. ASN will offer exclusive coverage of North America's biggest sports leagues in HDTV (high definition television), including the NHL (National Hockey League), the NFL (National Football League), NCAA basketball and football, March Madness and the Final Four. ASN will also offer coverage in Asia for the top college conferences in the USA including the Big Ten, Pac 10, SEC and ACC, including basketball, baseball, tennis, swimming, golf, football, soccer, track and field and gymnastics. Additionally, there will be extensive coverage of motor sports and extreme sports such as snowboarding, surfing, and skateboarding. ASN is expected to generate revenue through subscriptions, advertisings and sponsorships.
Focus Media Holding Limited (Nasdaq: FMCN), China's leading multi-platform digital media company, recently announced its wholly owned subsidiary Allyes Online Media Holding Ltd. ("Allyes"), a company that operates its internet advertising business, has submitted on a confidential basis to the U.S. Securities and Exchange Commission (the "SEC") a draft registration statement for a proposed initial public offering (or "IPO") of American depositary shares (or "ADSs") representing ordinary shares of Allyes. The purpose of the IPO, if completed, is to provide Allyes with greater flexibility in developing its leadership in the internet advertising market in China. The IPO is expected to commence as market conditions permit, and is subject to Allyes' filing publicly with the SEC a registration statement on Form F-1 in compliance with the U.S. Securities Act of 1933, as amended (or the "Securities Act"), and the SEC's declaring such registration statement effective. The number and dollar amount of ADSs proposed to be offered and sold have not yet been determined.
1worldspaceTM (NASDAQ: WRSP) announced recently that it has reached an agreement in principle with each of the four holders (the "Holders") of the Company's amended and restated secured notes (the "Bridge Loan Notes") and second amended and restated convertible notes (the "Convertible Notes") to defer until Sept. 25, 2008, the Company's obligation to pay $19.97 million in principal amount of the Bridge Loan Notes, plus accrued but unpaid interest due on the Bridge Loan Notes, which was payable on Sept. 15, 2008. During a period of forbearance, the Company is working on developing a comprehensive operational and financial restructuring plan for addressing both its immediate and longer term financing requirements. The Company intends to present the plan to the Holders on or before Sept. 25, 2008 and to seek their cooperation in facilitating the implementation of the plan or an alternative plan.
Archer Entertainment Media Communications Inc. (OTC: AEMC.PK) (ISIN US039490107) www.archeremc.com reveals its new, proprietary, branded, global search engine www.archer.12buzz.com. The search engine is now functioning and receiving significant traffic, Michael Selsman, Archer CEO, announced. "Our search engine features Actorvist, a virtual social network similar to MySpace or Facebook, Archer News, Shopping, Travel, Property, Finance, Mobile Email, VoIP, FX Games, TV Video, Online Casino, Download MP3s and more. We expect this to generate significant revenue immediately," Selsman said. Archer recently opened Hong Kong offices to assist increasing inquiries from brokers and potential investors from Southeast Asia. Archer has a strategic partnership in Asia with 12buzz.com, which is ranked at 7,700 in World Wide Web traffic, by Alexa, http://www.alexa.com/data/details/traffic_details/12buzz.com making Buzz one of the world's most popular web sites. Buzz expects to rank in the top three sites across Asia within the next few months, competing directly with Yahoo, Google, MSN and Baidu. 12buzz.com can also be found on more than 10,000 PCs in Internet Cafes in Thailand; in over 250,000 PCs as the home page in Internet Cafes in China, and projects that number to rise to 500,000 this year. Buzz Marketing's Ad-Network competes directly with Google, Baidu and Yahoo!, and reported displaying over 600 million ads in August.
About U.S. Equity News
U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.
U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com.
