Single Touch and PMC form video patent exploitation JVWednesday, April 23rd, 2014
Single Touch Announces Formation of VideoStar to License Intellectual Property in the Digital TV Broadcast Markets
- Joint Venture with Personal Media Communications pools IP rights covering digital television transmission, streaming media and live TV broadcasting
JERSEY CITY, N.J. — Single Touch Systems, Inc. (OTCBB: SITO), a technology based mobile media solutions provider, today announced the formation of VideoStar LLC, a joint venture with Personalized Media Communications (PMC). The VideoStar joint venture will exploit unique target licensing opportunities distinct and separate from the current licensing programs of Single Touch and PMC, using Single Touch’s video streaming, and PMC’s pioneering digital broadcast, delivery and payment patents.
“With the advent of new technologies there are a host of services used to stream broadcast and live content to Internet connected devices. Through the creation of this joint venture with PMC, we are able to exploit specific licensing opportunities with broadcasters concerned with the transmission and distribution of their content over new media distribution and Over-the-Top (OTT) platforms,” stated James Orsini, president and CEO of Single Touch Systems, Inc.
PMC’s President, Gerald Holtzman added, “We are delighted to partner with Single Touch to exploit this unique opportunity with TV broadcasters interested in safeguarding their content over new distribution channels. We believe the early priority dates of our portfolio pre-dating many of the digital TV and internet-based media distribution standards make them relevant and indispensable to these broadcasters. The successful licensing track record of PMC’s IP attests to its value.”
Single Touch and PMC retain ownership and control of all of their own intellectual property rights and will continue to independently, or in conjunction with other partners, pursue licensing and monetization of their patents to companies outside the VideoStar joint venture.