DigiDev secures strategic financing from Ironridge Media
LOS ANGELES --(Business Wire)--
The Digital Development Group Corp. (OTCBB: DIDG) ("DigiDev" or the "Company"), a hybrid content licensing and technology company offering a wide array of content for Internet enabled television and set top box devices, announced today the completion of an investment transaction with Ironridge Media. For full details pertaining to the transaction, please refer to the Company's Form 8-K with the SEC (News - Alert), which can be found at www.sec.gov.
"We are looking forward to working together with the Ironridge Team. The financing allows us to capitalize the Company from the development stage through our initial launch of our numerous channels," stated Martin W. Greenwald, CEO. "Our history with the Ironridge team gives us confidence that we have secured not only a partner of whom will expedite the opportunity we have created since we began the licensing of content and the completion of our unique technological platform," continued Greenwald.
"The $5 billion digital distribution market is one of the fastest growing segments of the entertainment industry," commented Ironridge Managing Director John C. Kirkland. "Having known Marty and much of his team for morethan 15 years, they are highly experienced in home entertainment media, and well positioned to take advantage of the over-the-top opportunity. We are pleased to have the opportunity to help facilitate DigiDev's acquisition of valuable content."
Martin W. Greenwald, DigiDev's CEO went on to say, "We now will focus on the execution of our business model, which is to license compelling and commercial content for Internet enabled devices such as TV's, tablets, set top boxes and mobile phones. Our goal is to differentiate DigiDev from the existing program suppliers."
About Digital Development Group Corp.
The Company's founders, CEO Martin W. Greenwald and President Joe Q. Bretz have extensive experience in the entertainment industry. As CEO, Mr. Greenwald, oversaw Image Entertainment Inc. growth to over $120 million in revenues. Given Greenwald's focus in content licensing and Bretz's technological know-how, the Company is well positioned to be a leader in the Internet television revolution. For more information please visit our website www.digidev.com.
DigiDev is targeting the rapidly expanding and revolutionary "OTT" technology arena to facilitate the video delivery of movies, games & apps to millions of desktops, mobile and smart/Internet enabled TV devices around the World. "OTT" or Over The Top devices piggyback on existing network services in consumers' homes or offices; pull content from the Internet and deliver it to their TV or Internet enabled device.
Additional details of the Company's business can be found in the Company's public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. Please refer to our full disclaimer, which includes our safe harbor statement, by clicking on or copying this link below into your browser: http://digidev.com/hq/disclaimer/
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