Oxford Media Focuses on Core Competencies
Oxford Media Focuses on Core Competencies
~ Lew Jaffe Discusses the Subject in an Interview With the Wall Street Reporter ~
IRVINE, Calif., April 3 /PRNewswire-FirstCall/ -- Oxford Media, Inc. (BULLETIN BOARD: OXMI) , a secure digital communication and technology company, has reaffirmed its core strategy and focus (delivering content to captive audiences through its proprietary Video-on-Demand (VOD) and prospective In-Flight Entertainment (IFE) systems to maximize shareholder value) by announcing that the Company will not proceed with or close its acquisition of WTI Communications, Inc. ("WTI") (www.wticommunications.com). The proposed acquisition was originally announced in October 2005.
Lew Jaffe discussed this exact topic with Victoria Rappaport of Wall Street Reporter Magazine, Inc. The replay of this interview may be heard at http://www.wallstreetreporter.com/ by following the links under the OTCBB category on the right section of the home page. The link will expire on Friday, April 7, 2006.
By mutual agreement, both Oxford Media and WTI have determined that a strategic alliance between the companies would better serve the interests of their respective clients and enable each Company to focus more effectively on their core strategies. Oxford Media will continue to focus on the continued development of its distribution channels and the placement of its proprietary VOD systems in the hospitality market. After the completion of its acquisition of IMS, anticipated to occur next month, the Company will only explore strategic acquisitions that are accretive both in management and financial metrics, as well as strategically aligned with the strategy of content delivery to captive audiences.
Lew Jaffe, President and CEO, stated, "We have seen the opportunities of a strategic alliance with WTI in our joint client wins. However, to truly maximize our shareholders' value, we believe that Oxford Media needs to remain focused on its core competency of delivering content to captive audiences". He further stated that "WTI is a well run organization with a solid business model and good customers, however as a CLEC their value to Oxford Media is best exploited as a partner, not a wholly owned subsidiary".
About Oxford Media, Inc.
Oxford Media is a leading developer of digital VOD and PPV entertainment systems that are scalable and turnkey offering hotel guests a variety of video content on-demand including the latest first-run Hollywood Movies, while giving a ROI to property owners. Oxford Media's market is comprised of small and mid-sized hotels and motels -- a segment of the hotel industry previously underserved and unable to offer such services to their guests. This targeted market of hotel properties between 50 to 300 rooms, comprises over 2.4 million hotel rooms in the U.S. and represents approximately 56% of the total hotel market.
Oxford's wholly owned subsidiary Creative Business Concepts, Inc. is a wireless and business systems provider specializing in WiFi/WiMAX, IT Security and IT Integration, and Telecom. As part of these service offerings, CBC designs and installs specialty communication systems for data, voice, video, and telecom. www.oxfordmediainc.com
About WTI Communications, Inc.
WTI is an Enhanced Service Provider in the emerging technology and telecommunications space providing and selling bundled technology solutions to commercial customers in the domestic U.S. market. Effectively, WTI provides integrated telecommunication solutions, with associated technology and business consulting. The Company has broad telecommunications experience and contacts, with further interest in the expanding Voice over Internet Protocol (VoIP) technology, IP VPN markets, and network security applications. The key element to these solutions and soon to be cornerstone of the telecom landscape is the emerging Voice over Internet Protocol (VoIP). The Company's business segments encompass telephony based IT Consulting Services, Network Security Applications, IP and Legacy PBX systems, Local, Long Distance and Data to SMB and National Account commercial customers. WTI is also a Competitive Local Exchange Carrier ("CLEC"). The Company is located in Orange County, California.
Special Note Regarding Forward-Looking Statements: Statements in this news release about anticipated or expected future revenue or growth or expressions of future goals or objectives, including statements regarding whether current plans to grow and strengthen the Company's existing business, are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements in this release are based upon information available to the Company on the date of this release. Any forward-looking statements involve risks and uncertainties, including the risk that the Company will be unable to grow or strengthen its business due to a lack of capital or an inability to identify acquisition candidates and that the Company may not realize anticipated cost savings or revenue growth opportunities associated with any acquisitions, planned or otherwise. Additionally, forward-looking statements concerning the performance of the Company's business are based on current market conditions and risks, which may change as the result of certain regulatory, competitive or economic events, as well as those risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, which could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.
Contact:
Investor Relations:
Oxford Media, Inc.
(949) 341-0050
lisamarie@oxfordmediainc.com
or
The Del Mar Consulting Group, Inc.
(858) 794-9500
bprag@delmarconsulting.com
or
Redwood Consultants
(415) 884-0348
investorinfo@redwoodconsultants.com
Source: Oxford Media, Inc.
CONTACT: Investor Relations of Oxford Media, Inc., +1-949-341-0050,
lisamarie@oxfordmediainc.com; or Investor Relations, The Del Mar Consulting
Group, Inc., +1-858-794-9500, bprag@delmarconsulting.com, for Oxford Media,
Inc.; or Investor Relations, Redwood Consultants, +1-415-884-0348,
investorinfo@redwoodconsultants.com, for Oxford Media, Inc.
Web site: http://www.wticommunications.com/
Web site: http://www.wallstreetreporter.com/
Web site: http://www.oxfordmediainc.com/
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