Star Entertainment Issues Shareholder Update
Moves Quickly to Implement New Monetization Plan and Leverage Increased Asset Valuation
MIAMI and NEW YORK, July 17, 2012 /PRNewswire/ -- Star Entertainment, Inc. (PINKSHEETS: SETY), a leader in digital distribution, is please to provide an operational update on the progress accomplished in the implementation of its recently announced enhanced business plan and new strategic direction that included corporate wide rebranding and the launch of significant new operations and consumer media technology acquisitions that would not require the issuance of Common Stock or debt.
The Company is now strategically positioned in the Digital Music industry which, according to respected research firm Ovum, is expected to exceed $20 billion in annual revenue by 2015, with 30% of that belonging to the independent label and artist segment of the market.
Since March of 2012, the Company has moved quickly with the implementation of its new media and digital content, delivery and monetization initiative through a strategic acquisition, innovative development projects and tactical implementation strategies and has substantially grown and strengthened its revenues and asset value through a model of continuous growth:
1. Private change of control of the Company completed resulting in complete change of Officers and Directors
2. Developed an enhanced Business Plan and new Strategic Direction targeted at the new media and digital content industry through delivery and monetization of multi-dimensional Online Customer Communities through the integrated use of online; interactive, real-time Internet television broadcasting; Internet radio networks; participatory mobile applications; proprietary search capabilities and intuitive advertising platforms
3. Complete corporate rebranding and launch of new Star Entertainment Group website. www.StarEntrtainGroup.com
4. In anticipation of new growth opportunities and as a loyalty benefit to all shareholders, the Company had declared and authorized its Transfer Agent to pay all shareholders on record, a stock dividend of 3 new shares will be issued for every 100 owned.
5. Upgraded by OTC Markets to the highest trading status of "Current Information", by meeting the OTC Markets Group Guidelines for Providing Current Information guidelines. The Company will now be designated as OTC Pink Current Information. Additionally, the Company has brought current all the required State filings and fees.
6. Acquired of Tranzistor Systems, Inc., a company engaged in mobile music entertainment products and services including internet radio, fan applications, and eCommerce products, with assests valued in excess of $10 million dollars; through an equity-building issuance of Preferred Stock that created no debt for the Company and did not require the issuance of Common Stock.
7. Integrated Tranzistor System, Inc. operation and management, effectively implementing the following strategic rollouts in its aggressive business plan:
7.1. Released its BETA Tranzistor Radio application to the Android Market and will soon have its iPhone app in the Apple Store pending Apple's final review of the technology. Tranzistor Radio's BETA application can be downloaded for free at www.TranzistorRadio.com. Internet radio is seeing explosive growth. According to just-released survey data from Edison Research and Arbitron, 103 million Americans are now accessing online radio in some form, in any month.
7.2. Tranzistor Radio division was featured in the influential Indie Music.com web-zine, adding support to its recently released BETA Tranzistor Radio application. As posted on May 31st, "The newest player in the market is the aptly named Tranzistor Radio, a smart phone app designed for music lovers seeking the best new bands and indie labels. With a multitude of music styles to choose from and multiple original channels within each genre, listeners hoping to discover fresh sounds will have, literally, thousands of options."
7.3. Tranzistor Systems, Inc. acquires NINJ GmBH, a pioneer in developing ground breaking mobile technology since 2005. Their VirtualRadio product has established a market leading position in the fast growing segment of Internet based Radio Software and Services for mobile phones (www.VRadio.org )
7.4. Tranzistor Systems announced its slate of first to broadcast channels and stations today and is looking to deploy this music network on top of their new Tranzistor Radio and already established Virtual Radio product in Europe and Asia. Virtual Radio already has a download base of 5,000,000 applications and recently released its iPhone application. According to eMarketer Daily and Bridge Ratings growth is predicted to reach 200 million monthly listeners by 2020, up from the current levels of around 150 million monthly listeners and Tranzistor Radio is dedicated to creating product to share in that market evolution and the forward progress of mobile listening.
7.5. Tranzistor Systems announced the details of its eCommerce division, MediaPal, a software platform that enables content owners of any size to profitably sell content via their Internet site. This platform allows Tranzistor to add to its growing list of offerings, which already include distribution of digital assets in the online space. Tranzistor has established the Music 3.0 Ecosystem which directly links a musician or band to their distribution platform while monetizing and building fan loyalty along the way. Further details can be found at www.MediaPal.com .
Tranzistor Systems anticipates the completion of its capital raises and the subsequent launch of its music on the Tranzistor Radio network and its sister application Virtual Radio during the summer. Tranzistor Systems announced its slate of first to broadcast channels and stations today and is looking to deploy this music network on top of their new Tranzistor Radio and already established Virtual Radio product in Europe and Asia. Virtual Radio already has a download base of 5,000,000 applications and recently released its iPhone application. The Company will continue to provide periodic updates on the progress of its initiatives and potential acquisitions.
About Star Entertainment Group
Star Entertainment Group, Inc. is an independent investment, management, and holding company focusing on new media and digital content, delivery and monetization of multi-dimensional Online Customer Communities through the integrated use of online; interactive, real-time Internet television broadcasting; Internet radio networks; participatory mobile applications; proprietary search capabilities and intuitive advertising platforms. The Company will operate as a central hub, utilizing our strengths in M&A, capital and resource management and will proactively minimize risk by teaming with experienced technologies operators, leveraging their experience and knowledge.
About Tranzistor Systems Inc.
Tranzistor Systems, a wholly owned subsidiary of Star Entertainment Group, is a consumer technologies company developed to address the independent music, social media and entertainment markets and is a home for artists, bands, fans and indie labels to cross-pollinate and create multiple revenue streams. With our internet radio and discovery platforms Tranzistor will be the first interactive company and brand to widen the demographic for fans, indie labels and independent artists. Tranzistor will focus on developing and monetizing their content.
Forward Looking Statements - Safe-Harbor Statement
Statements made in this press release that are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are necessarily estimates reflecting the best judgment of senior management and express the Company's opinions about trends and factors which may impact future operating results. Such statements rely on a number of assumptions concerning future events, many of which are outside of the Company's control, and involve risks and uncertainties that could cause actual results to differ materially from opinions and expectations. Any such forward-looking statements should be considered in context with the various disclosures made by the Company about its businesses. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. For further information regarding risks, uncertainties, and other factors associated with Star's business and copies of Star's press releases and additional information about Tranzistor Systems, please refer to http://www.StarEntertainGroup.com
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