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| [January 25, 2006] |
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Digicorp Enters into Term Sheet to Acquire Music Web Site; Digicorp Enters into Term Sheet for Acquisition of PerreoRadio.com
SANTA MONICA, Calif. --(Business Wire)-- Jan. 25, 2006 -- Digicorp, Inc. (OTCBB:DGCO) announced today that it has entered into a non-binding Term Sheet (the "Term Sheet") to acquire the Latino music web site PerreoRadio.com and its assets. Digicorp's home video distribution subsidiary, Rebel Crew Films, Inc. ("Rebel Crew") will be integrated with the site immediately, expanding the online presence of both entities. Rebel Crew will also provide additional content and fulfillment services for PerreoRadio.com's e-commerce store. Closing of the transaction is subject to a number of conditions, including completion of due diligence and approval by Digicorp's Board of Directors.
"PerreoRadio.com will be an exciting venue for our Latino content and distribution software, bridging our offline sales with our new online delivery applications," commented Digicorp CEO Jay Rifkin.
About PerreoRadio.com
PerreoRadio.com is a web site with a focus on the growing popularity of Reggaeton music and its DJ's. PerreoRadio.com produces live original radio content with the genre's top DJ's and artists. The site also delivers genre specific streaming radio, music videos, chat rooms, and ring tones.
About Digicorp Inc.
Digicorp, Inc. is a digital media company focused on developing and acquiring content, software, and early stage companies that have already found their initial audience amongst the fastest growing consumer demographic groups in the media space. Digicorp's strategy is to build value by combining this adopted niche content with enhanced delivery options to create a wider global audience. The company currently operates two wholly owned subsidiaries: Rebel Crew Film, Inc. and iCodemedia. Rebel Crew Films maintains and distributes over 200 Spanish language films and serves the nation's largest wholesale, retails, and e-commerce accounts. Developed to target Latino consumers who increasingly demand new content and classic Spanish language movies, Rebel Crew Films offers producers and content-providers a flexible option to the larger Hollywood studios. iCodemedia aims to provide a suite of podcasting and media applications and services that enable creators of content to publish and deliver to existing and next generation media devices such as the Apple iPod, Sony PSP, and mobile phones. For more information, please refer to http://www.dgcoinc.com or call 310-728-1457.
Forward-Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Digicorp "expects," "should," "believes," "anticipates" or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in the Digicorp filings with the Securities and Exchange Commission, including Digicorp's annual report on Form 10-K and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and Digicorp does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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