LOS ANGELES, Jan. 26, 2015 /PRNewswire/ -- Imagination TV Inc. (OTC Pink: IMTV), Imagination TV announces today it has signed a Letter of Intent to acquire RUNWAY®, a Fashion Media and Technology company that owns RUNWAY® TV and multiple Fashion Magazines.
Included in the acquisition...
The flagship magazine is RUNWAY® (www.runway.net), a printed quarterly Fashion Magazine. Each issue is a 100,000 print run with a read through of 350,000 people. The magazine is available at 17,000 locations including Barnes and Noble, Target, Walgreens, Hastings, Hudson News, Books-a-Million and many others. Readers can subscribe online for Home Delivery.
RUNWAY® TV (www.runwaytv.com) is a 24/7 Luxury Celebrity Fashion TV Channel featuring Runway shows, fashion weeks, reality shows, fashion movies and so much more. It is available on all digital platforms, including Roku and Google TV which have 17 million users. RUNWAY® TV is on pace to having half a billion viewers by the end of 2016. Negotiations are also in progress with major cable providers to bring RUNWAY® TV to households throughout the US.
RUNWAY® Digital is read by 180,000 people in all digital formats and is available by subscription. (www.runwaylive.com)
Catwalk Magazine® is a large format local Fashion Magazine, distributed though luxury hotel chains in their rooms. Currently, Catwalk is in Los Angeles, Las Vegas, and Phoenix, with plans to expand to every major city in the US. (www.catwalkmagazine.com)
RUNWAY® TEEN is a fashion magazine for teenagers around the world. (www.runwayteen.com)
The company's Facebook page has more than 349,379 likes... www.facebook.com/runway
Also included in the acquisition are eleven U.S. trademarks, covering each magazine and TV property. There are 180+ foreign trademarks, many of which are licensed to publishers throughout the world. There are also 60 website URLs.
RUNWAY® Productions is based in Hollywood, California; and Scottsdale, Arizona; and is the production house for all RUNWAY® properties. The production company houses all the equipment required to produce the magazine, as well as RUNWAY® TV.
"The acquisition of RUNWAY® brings technology to Imagination TV, which we needed to expand onto cable systems," says Imagination TV's CEO Steven Samblis. "The RUNWAY® proprietary broadcast system fills all our needs to broadcast Imagination TV 24/7, across cable TV. Their ad servers give us the ability to monetize all online and broadcast properties. RUNWAY® will join us with an incredibly talented staff of thirty people who will help us with our goal of becoming a market-leading multimedia company that is the number one choice for consumers and advertisers."
RUNWAY® is known for its amazing stable of writers which includes; Eila Mell who wrote the book "Project Runway" and Nole Marin a judge from America's Next Top Model.
About Imagination TV Inc.
Imagination TV is a diverse digital media company with a growing portfolio. Imagination TV delivers integrated digital marketing solutions, as well as the latest in content marketing, video, display and mobile advertising solutions, social intelligence and reporting across all screens. With unmatched local-to-national reach, Imagination TV is a onestopshop for agencies and brands that want to effectively and efficiently reach their target audiences on all screens.
Imagination TV Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Imagination TV Inc.