Intertainment Media Division itiBiti Enters Strategic Relationshipwith US National Multi-Platform Media Firm Cross MediaWorks
Intertainment Media Division itiBiti Enters Strategic Relationship with US National Multi-Platform Media Firm Cross MediaWorks
NEW YORK, NEW YORK and TORONTO, ONTARIO, Nov. 9, 2010 (Marketwire)-- Intertainment Media Inc. (TSX VENTURE:INT)("Intertainment"), aleading provider of white label social media and engagementtechnologies, is pleased to announce that its wholly owned division,Itibiti Systems Inc. ("itiBiti"), has entered into a strategicrelationship with US National multi-platform media firm Cross MediaWorks("CMW"). CMW will provide sales support and services for itiBitithrough its extensive roster of networks, clients, agencies andprogramming platforms. itiBiti and CMW will work together to developitiBiti programs and other Intertainment Media applications for CMW andits clients.
The relationship will allow Cross Mediaworks and itsdivisions to bring the itiBiti platform to a wide range of businessverticals including local television station groups allowing them toincrease their local share of voice as well as aggregate social mediatools, while providing them opportunities to capture incremental localmarket digital revenues.
As part of the strategic relationshipand achievement of business milestones, the Company has issued itiBiticommon share purchase options to CMW at $2.70 per common share givingitiBiti an effective pre-exercised value of $27 Million USD.
FREEto download & use, the itiBiti application gives consumers instantaccess to an exclusive mix of services, content, promotions andcommunications right from their computer desktop as soon as its turnedon. Users can talk for FREE with friends and family across North Americacourtesy of the built-in phone, join thousands of fans on Facebook andTwitter, and stay current with exclusive branded content and take partin promotions and offers.
"The prospects of having this new andkey social media technology as part of our offering for our clients wassomething that was very appealing to us on a functional level" said MarcKrigsman, CEO Cross Mediaworks Inc., "and on a strategic level, theopportunity for us, as a company, to have a stake in an emergingtechnology company made sense as we continue to grow."
Inaddition the itiBiti private label app also includes the full suite ofMicrosoft Live Services featuring Bing Search, Instant Messenger andmore. Microsoft Corp. has hailed the app as "the next generation ofintegrated social media applications - easy, scalable and fun."
"Weare very excited to be working with an organization like CrossMediaWorks," said David Lucatch, CEO of Intertainment Media Inc. "Theirworld class team and commitment to their clients make them an idealpartner as we continue to expand the reach of our itiBiti platform andintroduce our other new technologies to the market."
About Cross MediaWorks - www.cross-mediaworks.com
CrossMediaWorks is a leading multi-platform media firm that manages an arrayof media on a targeted and measured basis. Key segments of CrossMediaWorks' business include representation of linear and unwirednetworks, long-form and short-form broadcast, satellite and cableinventory as well as video-on-demand and on- line properties. Inaddition, CMW provides a full array of creative services and"go-to-market" strategies for companies in a variety of industries. Withthe addition of HITS, now HMW, Cross MediaWorks becomes the nation'slargest Hispanic media representation firm under the brand HispanicMediaWorks.
About itiBiti - www.itibiti.com
itiBiti is arevolutionary, instant revenue driven, Rich Internet Application (RIA)providing global brands with the unprecedented ability to power theirmarketing efforts within a unique, private-label social media platform.itiBiti offers users a rich suite of services in combination with brandclient initiatives, and the power of Microsoft Live services.
Soon,itiBiti Mobile will provide users of major private label brandeditiBiti platforms with the ability to continue their user engagementexperience with their mobile devices. Please visit www.itibiti.com
About Intertainment Media inc. - www.intertainmentmedia.com
Connectingpeople with brands, Intertainment Media Inc. is a Rich MediaApplications leader, focused on delivering leading edge technology andmarketing solutions enabling clients to power enhanced branding, loyaltyinitiatives and consumer engagement. Selected as a Microsoft GlobalAgency Initiative partner, Intertainment has joined an elite group ofinteractive agencies worldwide that Microsoft recommends to its Partnersand Customers.
Intertainment Media owns a number of key properties including Ad Taffy, itiBiti and Magnum Fine Commercial Printing Limited.
Headquarteredin Richmond Hill, ON, with offices in New York, Los Angeles and SanMateo, CA, Intertainment Media Inc. is listed on the Toronto VentureExchange under the symbol "INT".