Star Entertainment's Tranzistor Systems Releases Beta App to 103 million Potential Monthly Users
FORT LAUDERDALE, Fla., May 1, 2012 /PRNewswire/ -- Star Entertainment Group, Inc. (OTC: SETY.PK) announced today that Tranzistor Systems 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.
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.
The Company previously announced the signing of a Letter of Intent to acquire Tranzistor Systems Inc., a company engaged in mobile music entertainment products and services including internet radio, fan applications, and eCommerce products.
Tranzistor's product and technology have been assessed in excess of $10 million and additionally have a number of products and services under development. The Company projects Tranzistor annual revenues to reach $87.6 million by 2014 and in excess of $231 million by 2016, as Tranzistor's service set expands internationally.
Tranzistor Systems offers a difference in internet radio through its programmed approach and will shortly begin the rollout of its network and stations. Upon full rollout, Tranzistor Radio will offer many options in programming from country, cooking, rock, alternative, and many more. Tranzistor Radio will also be Bluetooth-compliant and be automotive-ready.
The radio application will be ad-supported as well as offer a premium subscription. With 40 percent of the US population 12 or over, and a large and growing population of Americans now listening to internet radio, management estimates a strong growth pattern in both advertising/sponsorship dollars as well as subscriptions as a result of Tranzistor Only content. The BETA Tranzistor Radio application can be downloaded at http://tranzistorradio.com
"The leap in online radio usage is significant, but really a trailing number to the rise in smartphone penetration, which has enabled much of that growth," said Josh Eikov, CEO of Tranzistor Systems Inc. "The increasing use-anywhere ability of the mobile web is profoundly changing the quantity, nature and context of media consumption in America. It takes time to make a network worthy of consumer usage and we are looking forward to the future."
The Company is currently completing its due diligence regarding the previously announced LOI to acquire Tranzistor Systems, Inc. in a transaction to be valued in excess of $10,000,000. The preferred share acquisition is anticipated to close shortly and will coincide with a complete change of operational focus and an entire replacement of management, including officers and directors.
Additionally, the Company has commenced preparation of disclosure and financial information required by the OTC Disclosure Service and expects its trading status upgrade to "Current Information" in a timely fashion.
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 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.
This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include but are not limited to risks and uncertainties associated with the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.
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