VANCOUVER and TORONTO, July 11, 2018 /CNW/ - WOW! Unlimited Media Inc. (TSXV:WOW.A) (TSXV:WOW.B) (the "Company" or "WOW!") is pleased to announce that the Canadian Radio-television and Telecommunications Commission (the "CRTC" or the "Commission") has approved an application by WOW! Unlimited Networks Inc. ("WOW! Networks"), a wholly owned subsidiary of WOW! Unlimited Media Inc., to acquire ownership of national, English-language discretionary channel, Comedy Gold from Bell Media Inc. and obtain a new broadcasting license for WOW! (the "Transaction") to continue operation of the service.
WOW! Networks is excited to relaunch Comedy Gold as a newly created kids and youth channel that combines next gen innovation with an immersive multi-platform experience to bring young Canadians the content they love.
The Commission's decision noted the transaction's benefit to both the Canadian viewing public and the broadcasting system by providing a wider variety of children's and youth content, along with an increase in production within the kids genre.
The CRTC's approval was a condition of the Transaction. WOW! Networks looks forward to closing the Transaction expeditiously. For more information concerning the Transaction, please refer to the Company's press release dated September 13, 2017.
About WOW! Unlimited Media Inc.
WOW! Unlimited Media Inc. is creating a leading next-generation kids and youth animation business by focusing on digital platforms and content. The company's key assets include: the world's No. 1 digital animation network, Frederator Networks, which consists of an animation production company Frederator Studios, as well as VOD channels on digital platforms and one of Canada's largest, multifaceted animation production studios, Rainmaker Entertainment, which consists of Mainframe Studios that produces CGI animated television series, and Rainmaker Studios that produces long-form animated features. Website: www.wowunlimited.co
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential" and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements in this release include but are not limited to statements relating to the Transaction with Bell Media Inc., the relaunch of Comedy Gold and the Company's performance. Such statements reflect management of the Company's current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by WOW, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward-looking statements included in this release, the Company has made various material assumptions, including, but not limited to general business and economic conditions, the closing of the Transaction with Bell Media Inc., the Company's ability to protect its intellectual property, the Company's ability to raise additional funding, existing governmental regulations and changes in, or the failure to comply with, CRTC and other governmental regulations and changes in business strategy or development plans. In evaluating forward-looking statements, current and prospective shareholders should specifically consider various factors set out under the heading "Risk Factors" in the Company's Annual Information Form dated April 27, 2018 and in the Company's management discussion and analysis dated May 29, 2018, copies of which are available on WOW's profile on the SEDAR website at www.sedar.com, and as otherwise disclosed from time to time on WOW's SEDAR profile.
Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward-looking statements.
Future-orientated financial information and financial outlook information (collectively, "FOFI") contained in this press release, as such terms are defined by applicable securities laws, is provided for the purpose of providing information about management's current expectations and plans relating to the future. FOFI contained in this press release was made as of the date of this press release and was provided for the purpose of disclosing material undisclosed information pertaining to the Company. The Company disclaims any intention or obligations to update or revise any FOFI contained in this press release unless required by applicable law. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
SOURCE WOW! Unlimited Media Inc.
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