 NeuLion Announces Close of Acquisition of Interactive Netcasting Systems Inc.
PLAINVIEW, NY--(Marketwire - November 2, 2009) - NeuLion, Inc. (TSX: NLN) ("NeuLion" or the "Company"), an end-to-end IPTV service provider of live and on-demand sports, international and variety programming over the Internet, announced today the closing on October 31, 2009 of its acquisition of Interactive Netcasting Systems Inc. ("INSINC").
The Company previously announced its proposed acquisition of INSINC by press release on October 6, 2009.
INSINC held a meeting of its shareholders on October 29, 2009 at which resolutions in favor of the acquisition were voted on and passed unanimously. The Supreme Court of British Columbia in Vancouver issued its Final Order approving the acquisition on October 30, 2009.
The acquisition brings together unique synergies that exist between the two companies' respective sports clients. INSINC's largest clients include the Western Hockey League (WHL), Ontario Hockey League (OHL), Central Hockey League (CHL), British Columbia Hockey League (BCHL), Central Canadian Hockey League (CCHL), Alberta Junior Hockey League (AJHL), and Central Junior Hockey League (CJHL). When combined with NeuLion clients such as the National Hockey League (NHL) and the American Hockey League (AHL), the Company will have an unmatched presence in the delivery of online video experiences for the North American hockey world.
INSINC's other sports clients include the Canadian Football League (CFL); when combined with such NeuLion clients as the National Football League (NFL) and the approximately 175 US colleges, schools and conferences for which NeuLion streams sports programming, the combined Company will have an unmatched presence in the delivery of online sports video in North America.
About NeuLion
Based in Plainview, NY, Sanford, Florida and Toronto, Ontario, NeuLion (TSX: NLN) works with content partners to develop end-to-end solutions for multimedia IPTV services. The NeuLion IPTV Platform encodes, delivers, stores and manages an unlimited range of multimedia content and the Operational Support System (OSS) maintains all billing and customer support services. Content partners are responsible for content aggregation and the sales and marketing for the individual IPTV service. The Company ranks as a world leader in customer/partner relationships with sports and international television content partners including, in sports, the NHL, the NFL, NCAA Division I schools and conferences and, in respect to international television aggregators and networks, KyLinTV (Chinese), ABS-CBN (Filipino), Talfazat (Arabic), TV-Desi (South Asian) and Sky Angel (Christian). Customer/partner content can be viewed by way of Internet on PCs and on the television through the Company's IPTV set top box.
About INSINC
INSINC is a leading webcasting company, enabling enterprises and content owners to distribute and monetize online video which can help improve communications, increase efficiencies and reduce costs. Founded in 1997, INSINC's core business is to provide live and archived video content to audiences online with integrated pay-per-view and commerce transaction processing, delivered to geographically dispersed audiences.
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