Monday, June 30, 2008

Busy Times Lately, New Look Ahead



I'm very intrigued with the merger recently announced by my company, JumpTV and NeuLion.

PRESS RELEASE

Internet Protocol Television (IPTV) Leaders to Create Powerhouse of Online Sports, International and Religious Programming

TORONTO – June 27, 2008 – JumpTV Inc. (TSX/AIM: JTV) (“JumpTV” or the “Company”), a leading provider of live and on-demand sports and international programming over the Internet and NeuLion, Inc. (“NeuLion”), an end-to-end IPTV service of live and on-demand sports, international and religious programming over the Internet and through set top boxes, today announced the execution of the definitive agreement in respect of their previously announced merger.

The terms of the definitive agreement are outlined in detail in the June 9, 2008 announcement. Closing of the proposed merger is scheduled to occur on or about October 1, 2008 and is subject to regulatory approvals (including approval of the Toronto Stock Exchange), JumpTV shareholder approval and NeuLion shareholder approval.

JumpTV and NeuLion have agreed the proposed private placement of units, previously disclosed on June 9, 2008, will be put to a shareholder vote in conjunction with shareholder approval of the definitive agreement. Pursuant to the private placement, AvantaLion LLC, an entity controlled by Mr. Wang, has irrevocably committed to subscribe for 10 million units from JumpTV’s treasury at a price of $1.00 per unit, and G. Scott Paterson has also committed to buy 1 million units on the same terms. The aggregate gross proceeds from the units will be CDN$11 million. Closing of the private placement is subject to regulatory approvals, including approval of the Toronto Stock Exchange. Completion of the merger is additionally conditional on shareholder approval of the unit subscription. The companies continue to anticipate the shareholder meeting will be held on or about October 1, 2008.

Additionally, the Company announced Jordan Banks will cease acting as CEO effective June 27, 2008. In conjunction with this news, Mr. Banks did not stand for re-election as a director of the Company at today’s Annual and Special General Meeting.

“We are grateful to Jordan Banks for his strategic vision and unwavering dedication to JumpTV and all of its stakeholders for the past eight months,” said G. Scott Paterson, Executive Chairman, JumpTV. “Jordan has played a critical role in JumpTV’s evolution. We wish him all the best in his future endeavors.”

On June 25, 2008, Brad Greenspan, on behalf of an entity which he controls, delivered an unsolicited offer to combine JumpTV and LiveTime Group. The Board of Directors of JumpTV convened a special meeting to review and consider Mr. Greenspan’s proposal. After due consideration, deliberation and discussion, and following receipt of legal and financial advice, the Board determined that Mr. Greenspan’s proposal was not in the best interests of the Company, and that the Company’s interests and its shareholders’ interests were best served by continuing its negotiations with NeuLion, ultimately completing the definitive agreement as described above.

About JumpTV

JumpTV (www.jumptv.com), (TSX/AIM:JTV), is a world leading broadcaster of live and on-demand sports video over the Internet. In the last twelve months, JumpTV streamed more than 15,000 live and exclusive sporting events – comprised of top college (NCAA), professional and Hispanic sports coverage – to millions of fans globally. JumpTV also delivers a broad offering of internet services to its partners including web hosting, live event video streaming, ticket management and e-commerce.

Through JumpTV’s consumer websites: JumpTV.com, Cycling.TV and SportsYa.com, as well as its collegiate and international sports partner websites, JumpTV streams tens of thousands of hours of live and on-demand events and international programming over the Internet each year.

About NeuLion

Based in Plainview, NY, NeuLion works with content partners to develop end-to-end solutions for multimedia IPTV services. The NeuLion iPTV Platform encodes, delivers, stores and manages an unlimited range of multimedia content, and the Operational Support System (OSS) maintains all billing and customer support services. NeuLion content partners are responsible for content aggregation and the sales and marketing for the individual IPTV service.

Thursday, June 05, 2008

Let's Go Pens!



Wow, what a tough way to end a remarkable season. Reminds me of the Tennessee Titans falling a yard short in their Super Bowl loss to the St. Louis Rams. This team was a joy to watch each and every game. From the evolution of Evgeni Malkin, to the return of Gary Roberts, it was a helluva ride.

This team is poised to make many a run at the Stanley Cup so there is absolutely nothing to be disappointed about. As a fan, I can only hope that management is able to keep as many of the core group in place. It was a real thrill to see the talented Marian Hossa mesh with Sidney Crosby. Watching Marc-Andre Fleury raise his game to a new level and the courage of Ryan Malone, a true warrior and Pittsburgh hometown favorite.

For this, I salute you Penguins on a job very well done and am counting the days until it all begins again. I can hear it now, Let's Go Pens! Let's Go Pens! Let's Go Pens!