Randy Michaels and Marc Chase to Work Jointly with Management and
Become Strategic Advisors to the Company
IO World Media ("IOWorld" or "the Company") (OTCQB: IWDM) announces that
it has agreed to terms of a Share Exchange Agreement to acquire "Up Your
Ratings" (UYR) in a stock-for-stock transaction. Execution of the
finalized Share Exchange Agreement and closing of the transaction is
scheduled to be on or before September 30, 2011. UYR, which is owned by
Randy Michaels and Marc Chase, is a private company with unique
intellectual property that has been developed by Mr. Michaels and his
team. UYR's pure play recommendation system (ScenarIO) is designed to
deliver a one-to-one, vs. a one-to-many, consumer preference based
custom audio product that is specific to the users tastes, locations,
moods or activities thus creating a unique audio experience to fit their
"ScenarIO". Also included in the UYR IP are design plans for a
proprietary state of the art audio storage, retrieval, and distribution
system that eliminates the need for a Content Distribution Network.
In addition, both Mr. Michaels and Mr. Chase will be Strategic Advisors
to the Company. Their participation as advisors to the leadership team
with their unique, distinctive, market leading perspective and their
vast industry knowledge, experience and contacts is potentially the most
significant asset of the transaction.
"Since the Company's inception, everyone who has worked on this project
has had the single goal of making the Company a leader in the Internet
Media World," commented Tom Bean, CEO of IO World. "The acquisition of
Up Your Ratings and its intellectual property, combined with the
leadership and expertise of Randy and Marc as special advisors to the
company, is a move that will without a doubt create differentiation and
provide a competitive advantage for IWDM. This is a big step in the
right direction in the Company's efforts to be a leader in the digital
revolution."
"IOWorld and RadioIO have long been innovators and pioneers in the
Internet Radio Space including most recently with the launch of RadioIO
Live® and The Bubba the Love Sponge® show," stated Randy Michaels. "Marc
and I look forward to continuing that tradition of innovation and with
UYR's IP and IOWorld's platform we will implement a plan for internet
radio that combines the best practices of traditional media with the
most successful interactive characteristics of leading internet
businesses. Traditional media is one to many. The distribution system
itself creates a barrier to entry and creates market power.