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Knightscove Announces Intent to Acquire 51% of RSKB Communications Inc.(November 10, 2011)
TORONTO, ONTARIO -- (Marketwire) -- 11/10/11 -- KNIGHTSCOVE MEDIA CORP. (TSX VENTURE:KC.A)(TSX VENTURE:KC.B) (www.knightscove.com) ("Knightscove"), a leading Canadian distributor of family entertainment, announced today the entering into an agreement to acquire fifty-one percent (51%) of Toronto-based RSKB Communications Inc. ("RSKB"), the owner of SouthAsianLife.com ("SouthAsianLife.com"), subject to approval by the TSX Venture Exchange.
SouthAsianLife.com is one of the largest ethnic sites in Canada, with original daily coverage of politics, personalities, entertainment, fashion and food. Updated hourly, it's a dynamic and engaging resource that offers readers commentaries on the hottest trends, health, beauty, fashion, shrewd dissections of breaking national and local news, blow-by-blow accounts of TV's greatest shows, the scoop on what's cooking with the latest top chefs and more. Inspired by the vision to highlight who South Asians are at their best, SouthAsianLife.com is the go-to guide for living the South Asian life, wherever you are. SouthAsianLife.com attracts up to 5 million hits daily.
"The team that Knightscove has put together is amazing. The future is digital and content has and always will be king. That is what we will be creating here, great content that is accessible across all platforms: TV, Online, Mobile and Events using social media in a very integrated way," says RSKB CEO Raaj Brar.
The purchase of RSKB and the appointment of Raaj Brar as President of the newly formed Knightscove Digital compliments Knightscove's recent announcement to acquire FDR Media Group Inc. and the launch of Bollywood Times and Mehndi TV. Together, with the digital initiatives of our other divisions, Knightscove intends to deliver content to all digital platforms.
"We are extremely pleased to announce the appointment of Mr. Brar as President of Knightscove Digital and the acquisition of his company, RSKB Communications, into the Knightscove family. Our intention in building Knightscove has always been to leverage all content across all platforms. With the involvement of someone as uniquely talented in the digital world as Mr. Brar, his knowledge of Canada's largest visible minority will position us to effectively manage our broadcast and digital initiatives," says Leif Bristow, CEO of Knightscove Media Corp. "An additional advantage to having Knightscove Digital is that it will allow us to begin transitioning our proprietary libraries, including the recently acquired Ellis Entertainment library of over 600 titles, to online applications for rental and purchase."
Mr. Brar has extensive knowledge regarding the buying habits, media habits, product preferences and cultural idiosyncrasies of the two million South Asians that call Canada home. Mr. Brar's knowledge of his community can be directly attributed to the comprehensive online surveys he frequently conducts on the website and throughout his social media network of over one million fans.
The aggregate purchase price for fifty-one percent of RSKB was set at $125,000.00. Of this amount, $50,000.00 is to be issued in cash and $75,000.00 is to be satisfied through the issuance of 750,000 units of Knightscove (the "Units") at a price per Unit equal to $0.10 (the "Purchase Price").
About Knightscove Media Corp.
Knightscove is a fully integrated entertainment company specializing in the distribution, creation and financing of live action feature films and television productions. The Canadian company offers family-friendly third party and proprietary film and television content through its Knightscove Family Films and Knightscove-Ellis International brands.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release or the information contained herein.
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