SAN DIEGO - (Business Wire) Tres Estrellas Enterprises, Inc. (OTCBB: TLLA) today announced that it has entered into a definitive merger agreement with IN Media Corp of Los Altos, California. IN Media is a leading developer of Internet Protocol Television (IPTV) appliances and interfaces with implementations of the technology in key provinces of China and planned rollouts in India and the United States. This move marks a key shift in Tres Estrellas' strategy to the world of IPTV. “We are excited to join in partnership with IN Media,” stated Tres Estrellas President Jose Chavez. “This allows Tres Estrellas and its investors to be part of the dynamic world of Internet Television.” Dr. Nick Karnik, Chief Executive Officer of IN Media, has been a Director of Tres Estrellas since April of 2009 and will become Chief Executive Officer and Chairman of the new combined company. Karnik will drive the direction of the company as it executes its plan of providing an integrated broadcast and Internet set top box to consumers through key partnerships.
Dr. Karnik is a technology entrepreneur with strong technical and marketing background in media and technology businesses. His vision for IPTV induced him to design new hardware and software platforms for cost effective delivery of content. Dr. Karnik has over 20 years of experience in information technology and media companies and holds a Masters degree in Business and received his Ph.D. from Mumbai University, India.
IN Media Corp, in our management's opinion, is a key player in the convergence of Internet and broadcast television. Our management believes that as Internet based content becomes more prevalent with mainstream consumers, the demand for an integrated solution that can play on the household television is escalating rapidly. IN Media, in our management's opinion, is on the forefront of providing that solution. Major infrastructure providers such as Cisco (NASDAQ: CSCO) are rolling out IPTV bandwidth technology, while major carriers such as AT&T (NYSE: T) and Verizon (NYSE: VZ) already are packaging bundled content solutions as a service. Our management believes that IN Media’s set top solution takes advantage of these initiatives.
The closing of the definitive merger agreement with IN Media Corp is subject to completing of all the terms and conditions as disclosed in our filing on November 2, 2009, with the Securities and Exchange Commission on Form 8-K.
About IN Media Corp
IN Media Corp is an integrator of Internet Protocol Television (IPTV) services and content for major platform and service providers (e.g. cable, satellite, and Internet providers). IN Media provides a combination of products and services: set-top box hardware and software services, manufacturing of the set-top boxes, library of content, and content aggregation for platform providers to implement an all-in-one solution for IPTV services. More information can be found at: http://www.inmediacorp.com.
Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.
IN Media Corp
Media and Investor Relations Contact:
Soames Haworth, 858-764-4346
inmediair@linacc.com
