TORONTO and VANCOUVER, British Columbia, June 07, 2019 (GLOBE NEWSWIRE) -- WOW! Unlimited Media Inc. (“WOW!” or the “Company”) (TSX-V: WOW/OTCQX: WOWMF) announced today that WOW!'s subsidiary, Frederator Networks, Inc. (“Frederator”), and ADME (CY), Ltd. (“ADME”) have agreed to certain changes to their agreement pursuant to which Frederator distributes ADME's collection of channels on YouTube. Frederator has been managing and distributing ADME’s YouTube channels for over two years. As the current distribution agreement between the parties approaches its maturity, ADME and Frederator have agreed to transition certain YouTube channels back to ADME to be managed internally by ADME, with Frederator continuing to distribute and manage certain other channels. Under the terms of the new distribution agreement, the ADME channels being retained by Frederator will be subject to cancellation by ADME on 30-days advance notice for each such channel. Additionally, Frederator will have the opportunity to distribute and manage certain new ADME YouTube channels as they are developed. The ADME group of channels constitutes the largest distribution agreement for Frederator. While ADME has agreed to retain certain channels within Frederator and to potentially add newer channels, the Company has conservatively estimated the effect on its previous guidance assuming the loss of 100% of the channels owned by ADME for the second half of FY2019 and is thereby revising full-year 2019 guidance as follows:
WOW! Unlimited Media Announces Changes to Distribution Agreement With Key Channel Affiliate
Jun 08, 2019
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