From CNN Money:LinkPlayBOX (US) Inc. (OTCBB: PYBX) is pleased to announce the signing of a letter of intent dated December 14, 2007 for the proposed acquisition of 100% of the issued capital of U.K based Delta Leisure Group Plc ("Delta") an established distributor of an extensive catalogue of major music CD's, DVD's and video's throughout the UK and Europe. Playbox is also pleased to announce the appointment of Mr Harry Maloney to its Board of Directors from December 14, 2007.
Delta, whose registered office is in Orpington, UK, holds 75% of the shares in Delta Music Limited. Delta Music Limited, has two subsidiaries: Delta Home Entertainment Ltd., and Delta Music Merchandising Ltd. Since its inception in 1993, the Delta group of companies (the "Group") has become one of the most recognized manufacturers and distributors of entertainment products in the UK with client distribution outlets including Universal, Asda, Tesco, Aldi, Sit-Up TV, TK Maxx, Toys-R-Us and Sainsbury's. In addition, Delta Music Limited was an early mover in the growing on-line digital download industry.
PlayBOX is a UK based technology company with over three years experience at offering online shop facilities to the music industry. We specifically target emerging artists and small-to-medium sized record labels who have not got the present knowledge or resource to set-up and manage their own online shop/distribution channel PlayBOX offers this to them pool services like hosting, streaming, e-commerce and digital rights management (DRM) together with the online experience and know-how to offer a cost-effective and professional platform on which to sell and promote their music products from.
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