GoConnect (ASX: GCN), a leading global communications company has completed its merger with music content destination Undercover.com.au and 360 degree artist management, development and production company, PLW Entertainment.
The merger was approved by shareholders at the extraordinary general meeting (EGM) on Wednesday June 16, 2010.Undercover founder Paul Cashmere and PLW Entertainment founder Paul Wiltshire were also voted onto the board of GoConnect during the EGM bringing a wealth of relationships, knowledge and experience in the media and music industries to the company.
The combined businesses will expand to create a new platform bringing its various media, technology and music operations together to take advantage of the emerging global IPTV (Internet Protocol TV) market with the launch of a unique and exciting international music channel, uctv.fm. This channel is scheduled to go live in early July this year to be distributed by a major electronics group on their IPTV platform. It is expected that Australia will only be the first country to receive uctv.fm with the rest of the world to follow within the next 12 months.
GoConnect is now able to consolidate technology, intellectual properties including artists' right, and substantial copyright, sales, marketing, promotions and existing entertainment industry relationships within the three operations and maximize its collective strengths to expand its audience and revenues through uctv.fm.
uctv.fm will feature original content produced by Undercover, PLW and GoConnect for licensing exploitation into global markets.
The consolidation will expand the existing online audience and benefit the advertising industry with the development of new and existing entertainment products.
The company already has an aggressive strategy for rapid expansion with plans for the United States, China and Europe as well as other markets.
