announces the signing of a binding Letter of Intent outlining plans to seek a merger with Digitally Distributed Acquisition Corporation in order to develop a media based business offering an in-depth portfolio of content for Internet TV distribution.
Martin W. Greenwald, former CEO of Image Entertainment and the CEO of DDAC, signed the binding letter of intent with Regency Resources aimed at merging the two companies. The business combination will target the distribution of content in the rapidly expanding internet broadcast TV market. Greenwald has been a pioneer in the media distribution sector for over 30 years and believes that a move to internet television is a perfect culmination of a career spent bringing media to a viewing public in the most advanced way possible.
DDAC has developed exclusive technology over the past four years specifically designed to enhance the delivery of content through internet TV as well as through proprietary software protocols. This innovative technology is in the final stages of beta testing, which will insure delivery of content in a more efficient and dramatically less expensive manner than existing systems.
Regency intends to rapidly develop a portfolio of content management agreements and licenses for entertainment content and distribute them to the new Over-the-Top Internet TV providers such as, Apple TV, Google TV, Roku, Western Digital and others. Regency's business model is to share revenues with the content owners and provide unique monetization methods. According to industry research by iDate this market sector is expected to grow tenfold from its current $400 million in revenues to $4 Billion in 2016.