FAB Universal (NYSE MKT: FU), a worldwide distributor of digital entertainment, announced today it has added a new wholesale customer, China United Network Limited China (China Unicom) having signed cooperation agreements with Beijing Baifu Hongtai Technology Co., Ltd. (Beijing Baifu Hongtai) and Beijing Berlin Information Service co. Ltd. (Berlin Information Service).
As the authorized distributors of China Unicom, Beijing Baifu Hongtai and Berlin Information Service operate some of China-Unicom’s Business Stores throughout China. China Unicom, which trades on the NYSE, the Hong Kong Exchange and Shanghai Securities Exchange, is currently engaged in business in 31 provinces in China as well as countries outside of China, and generated revenue of RMB 248.93 billion (US$ 40 billion) in 2012. Initially, Beijing Baifu Hongtai and Berlin Information Service will sell FAB Universal’s copyright protected audio-video products in 37 China-Unicom Business Stores in Beijing.
“These cooperation agreements open a new wholesale channel for FAB Universal’s audio-video products and give China Unicom audio-video products to sell to consumers for the first time. Together these cooperation agreements represent a significant achievement for the company,” said Chris Spencer, President and CEO of FAB Universal. “Given China Unicom’s market leadership in the domestic Chinese market, we believe these agreements will drive further growth for our wholesale business.”
About FAB Universal Corp.FAB Universal Corp. is a global leader in digital media entertainment sales and distribution. FAB delivers media to its customers worldwide through Intelligent Kiosks, Retail Stores and Franchises, and online through Apple iTunes and Google Android. We distribute billions of movie, music, podcast, TV show and other digital files to consumers in 240 countries through three business units: Digital Media Services, Retail Media Sales and Wholesale Media Distribution. Sales of digital media are generated through the kiosks networks, subscription sales for mobile devices, smartphone Apps and Netflix-like subscription models. In 2011, we distributed billions of downloads of copyrighted music, video games, ringtones, ebooks, movies and podcasts to over 50 million people worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Windows Phones, Androids and many other devices and destinations. We are a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at www.fabuniversal.com, email us at email@example.com. Legal Notice Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services or changes in our business strategies.
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