Wizzard Media (NYSE Amex: WZE), the leading podcast network, today released the first of several informational business overviews regarding FAB. Over the next several weeks, Wizzard plans to issue additional overviews based on various FAB business segments including: wholesale media distribution, retail and franchise based distribution of media products as well as digital kiosk based distribution of media products. FAB Wholesale Media Distribution Business Founded in 2003, FAB is headquartered in Beijing and distributes over 150,000 media based products including copyrighted DVD’s, Blu-ray Discs, music CD’s, video games and downloadable digital content through three distribution channels – wholesale and retail, vending kiosks and internet stores. FAB wholesale distribution business distributes media products to over 80 customers including Sohu (NASDAQ: SOHU), Dangdang (NYSE: Dangdang) and Century Outstanding Information Technology Company, a subsidiary of Amazon.com (NASDAQ: AMZN). FAB’s wholesale business caters to three types of customers: large retail stores, FAB franchise stores and small wholesale/resellers. Customers place orders by telephone, through the internet or in-person and fulfillment is handled by FAB’s vehicle fleet or through direct warehouse access. With over 100 suppliers and 80 wholesale customers, including the Government, the wholesale business segment is growing rapidly with FAB strongly positioned to be the leader in copyright protected material as the media entertainment industry continues to expand in China. Revenues for the wholesale business segment were $23.5m ’09, $31.9m ’10, $44.7m ’11 and $27m for the first six months of fiscal 2012. Recently, the Chinese government announced initiatives for the protection of copyrighted content as both official policy and a strategic priority, and has publicly recognized FAB as an early anti-piracy champion. The development of the digital media industry in China is now a national strategic initiative based on China’s official Eleventh Five-Year Plan passed by China’s National People’s Congress. Following sustained lobbying efforts by western media companies, China has begun to relax its longstanding limits on foreign media. For example, up to 20 blockbuster western movies can now be shown in Chinese theaters per year. The demand for viewing foreign DVD content on personal entertainment devices has burgeoned and with the government’s official crack-down on pirated content becoming official, FAB and the network of retailers it supplies have experienced substantial increases in demand.
For more information on FAB, please click here.The acquisition of FAB by Wizzard, which is expected to close by August, 2012 is subject to approvals by each company’s shareholders, the satisfaction of customary closing conditions and regulatory approvals both in the U.S. and China. About Wizzard Media: Wizzard Media provides podcast publishers with distribution and monetization services. Our clients include Microsoft, National Geographic, Harvard Business Review, NPR and more than 10,000 others who use Wizzard Media products to measure their podcast audience, deliver popular audio and video entertainment and monetize their content through advertising and App sales and subscriptions. In 2011, the Wizzard Media Network received well over 1.64 billion podcast requests from approximately 50 million people worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Windows Phones, Zunes, Androids and many other devices and destinations. We are part of a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at www.wizzardsoftware.com/media, 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 and changes in our business strategies.