LOS ANGELES, CA--(Marketwire -08/08/12)- Digital Development Group Corp. (DIDG) ("Digidev," "Digidev Group" or the "Company"), a development stage company aiming to offer an in-depth portfolio of content for Internet TV distribution, is pleased to announce the signing of a Memorandum of Understanding ("MOU") for the creation of a broadly accessible online "Channel" based on the Synapse Films® content portfolio.
Synapse Films®, Inc. was founded by Don May, Jr. in 1997. Partnering with his lifelong friend Jerry Chandler and Charles A. Fiedler, the goal of Synapse Films® was to release digitally re-mastered films in the horror, science-fiction, cult and independent genres on available Home Video formats and now via "OTT" internet television via a branded Synapse Films® Channel.
"Synapse Films® is extremely excited to partner up with The Digital Development Group," says May. "Internet television is a new technology for us, and we couldn't be happier to be involved in this new venture. The idea of creating a Synapse Films® internet/web channel has always been something we wanted to explore, and we're looking forward to this opportunity. Our fans have been asking us about this sort of thing for a few years now, and we can't wait to launch! It's another way for our fan base to view and enjoy the many types of films Synapse® has to offer, and we look at this as a great way to expand the awareness of our Synapse® brand."
As noted previously, Digidev is targeting the rapidly expanding and revolutionary OTT technology arena in order to facilitate the online delivery of movies, games & apps to millions of desktops, mobile and smart TV devices around the World. "OTT" or Over-The-Top Home Entertainment Media targets DVD players, video game consoles, mobile products and Smart TVs with built-in Internet connectivity. These devices piggyback on existing network services in consumers' homes or offices, pull content from the Internet and deliver it to their TV set or internet-enabled device. It's referred to as "over-the-top" because the service rides "on top" of the internet connection subscribers already use.
Using Digidev's innovative proprietary technology, content providers like Synapse Films will be able to reach out to previously "un-reachable" audiences with an easy to use, multi-purpose platform resulting in the ultimate engagement connecting a massive audience of new online viewers to a vast network of content owners, developers and producers.
Martin W. Greenwald, CEO of Digidev, adds, "The Synapse® film library represents a painstakingly restored wealth of classic cinema. Titles range from Asian cult cinema, horror, sci-fi, exploitation, action, drama documentaries and the best of erotic cinema. Literally something for everyone! There is no question in my mind that the channel will become a go-to destination for fans and newcomers alike. We look forward to working hand in hand with the Synapse® team to bring their art to this new and broader audience."
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit our website at: www.digidev.com.
About The Digital Development Group Corp. (DIDG)
The company was founded by CEO Martin W. Greenwald and President Joe Q. Bretz, who have extensive experience in the entertainment industry. Mr. Greenwald oversaw Image Entertainment Inc. as Chairman of the Board from $1 million in revenues to over $120 million in revenues per year, while Mr. Bretz started working on various media start-ups in Silicon Valley during the dot com boom in the late 90s; his experience has ranged from a feature film producer to a high-tech incubator. Bretz and longtime technology partner Richard Verdoni, the company's CTO, have been working on this technology in various formats for over 6 years. Given Greenwald's success in licensing content and Bretz and Verdoni's technological knowhow, the company is well-positioned to be a leader in the Internet television revolution.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, reference to new technologies, software and sales methods as well as financial projections for the size of the internet TV market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.