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I-Media Buys WV Fiber

I-Media has closed the purchase of all assets and operations of WV Fiber LLC

August 15, 2006

1 Min Read

ATLANTA -- Integrated Media Holdings, Inc. (I-Media) (OTCBB: IMHI) announced today that it has closed the purchase of all assets and operations of WV Fiber LLC, a global fiber network transport service provider to telecommunications carriers, Internet service providers and cable companies. The acquisition brings approximately $4 million in annual contract revenues currently, along with an extensive pipeline of new network contracts. The acquisition also adds approximately $1.75 million in net assets to the IMHI balance sheet. The closing occurred on August 8, 2006 and the company began operating as WV Fiber, Inc., a wholly owned subsidiary of Integrated Media Holdings, on August 9 2006. All of WV Fiber's network operations were acquired without interruption and contracts necessary for these operations will be assumed by the new company.

"We are very pleased to acquire WV Fiber, which represents both a significant and immediate positive impact on IMHI financials and an important strategic step in positioning I-Media's Endavo as a multi-platform content delivery network," said Paul D Hamm, I-Media Chairman.

Previously, I-Media's subsidiary Endavo outsourced its network connectivity, which represented a large percentage of its operating costs for delivering digital content over the Internet or to other networks.

"In addition to being one of the most connected networks in the world for transport and peering, WV Fiber is structured to carry Endavo's broadband video services and IPTV traffic over its IP backbone to the Internet and directly to broadband communities, IPTV service providers and Broadband TV platforms around the world to establish a new media broadcast network," Hamm commented further. "The network's market reach now connects us with just about anyone seeking content over broadband."

WV Fiber LLC

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