Interactive Brand Development, Inc., announced that Interactive Television Networks
, Inc., formerly XTV, Inc., has merged with Radium Ventures, a public company. Interactive Television Networks (ITVN) is an emerging provider of Internet Protocol Television (IPTV) hardware, programming software and interactive networks. As disclosed by Radium with the US Securities and Exchange Commission, pursuant to the merger agreement, IBD is receiving 5,529,222 restricted common shares of Radium.
IPTV is the highly-anticipated provision of interactive television to home television over standard Internet home broadband connections. ITVN addresses this market with a complete product solution that will provide a range of affordable content on demand including news, music, broadcast entertainment and web media, as well as on-screen viewing and management of personal media including photos and videos. Consumers simply connect ITVN's small, sleek set top box to their existing home broadband/DSL router, cable modem router or wireless LAN and plug in the set top connector to their television set and subscribe to the services that best meet their needs.
ITVN leverages home broadband, an existing infrastructure, to bypass the massive costs of cable and satellite delivery. ITVN is live and providing video services to its paid subscriber network. A January 11, 2005 article by PC Magazine concluded that ITVN's broadband-enabled TV set top box is a "technology breakthrough" with image quality that is "indistinguishable from broadcast."
Beginning in the fourth quarter of 2004, IBD has provided capital in three significant investments, including its wholly owned subsidiary iBill, and Penthouse Media Group and Interactive Television Networks.
"We are excited that ITVN has completed the public merger, which will raise its profile in the investment community as a public media company and we believe being a public company will assist it in growing its subscriber network," said Steve Markley, CEO of IBD.