MPLC, Inc. and New Motion, Inc. Complete Acquisition and Close on $6,500,000 in Private Placement
February 13, 2007
MPLC, INC. AND NEW MOTION, INC. COMPLETE ACQUISITION AND CLOSE ON $6,500,000 IN PRIVATE PLACEMENT
IRVINE, CA -- MPLC, Inc. (“MPLC”) (OTCBB: MPNC) and New Motion, Inc. (“New Motion”) jointly announce the completion of the acquisition of all of the outstanding securities of New Motion, with New Motion becoming a wholly owned subsidiary and the sole operations of MPLC, and the closing on a private placement for gross proceeds of $6,500,000, each as previously announced.
Newly appointed chief executive officer of MPLC, Burton Katz, commented, "We are extremely excited about the completion of the transaction with MPLC. It's been a long road to get to this point, but one we believe will be particularly rewarding for all of our core constituents -- shareholders, team members and customers.
Sanders Morris Harris, Inc. acted as advisor to New Motion, Inc. on both the merger negotiation and the $6,500,000 private placement. Please contact Dean Oakey at 213-253-2282 in our <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Los Angeles office for more information.
About New Motion, Inc.
New Motion, Inc. is a digital entertainment company providing a broad range of digital and mobile products and services to consumers. New Motion, Inc. combines the power of the Internet, the latest in mobile technology, and traditional marketing / advertising methodologies in their four divisions: MobileSidewalk™, one of the largest U.S. based mobile entertainment companies, RingtoneChannel, a mobile storefront provider, Bid4Prizes, a low-bid mobile auction game, and an Asian-themed mobile entertainment portal for the North American market. Headed by a seasoned team of Internet, new media, entertainment and technology professionals, New Motion, Inc. was founded in 2005 and is headquartered in Irvine, California with a branch office in Los Angeles. Wired Magazine recently declared New Motion’s mobile content capabilities a “rival to those of their mainstream-media counterparts,” Wireless Business Forecast named New Motion “a company to watch,” and RCR Wireless News noted that New Motion, Inc. is “gaining traction in the direct-to-consumer ring.” For more information, please visit www.newmotioninc.com, www.mobilesidewalk.com, www.ringtonechannel.com and www.bid4prizes.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about MPLC. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of MPLC's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: changing interpretations of generally accepted accounting principles; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which New Motion engaged; demand for the products and services that New Motion provides, general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks detailed in MPLC's filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. MPLC assumes no obligation to update the information contained in this press release.
FOR IMMEDIATE RELEASE
Dean Oakey -- Financial Inquiries
Karen Strickholm – Press Inquiries
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