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NewsAuroras Entertainment, Inc. Has Merged With Broadstream05.18.07 Merger creates leading content aggregation and delivery services company. Combination brings customers the most comprehensive delivery of IPTV services and technology in the market today. May 15, 2007 – Auroras Entertainment, Inc. (“Auroras”) and Broadstream Communications, Inc. (“Broadstream”) successfully completed their merger to form Avail Media, Inc. (“Avail Media”). This transaction brings together two of the leaders in the IPTV and advanced media services industry. Through a combination of best-of-breed technologies, Avail Media offers a complete end-to-end platform to serve a broad array of customers and provides the broadest and deepest set of services, technologies and solutions among its competitors. Terms of the merger between Auroras and Broadstream were not disclosed. Avail Media is the emerging leader in providing managed content services and technologies delivered through a fully integrated head-end infrastructure, for the profitable deployment of IP video. The Company delivers an uncompromising suite of customer services that includes managed IPTV network services, content management platforms and affiliate rights and marketing support services. The service offering enables network operators to provide an efficient, cost-effective video service product offering beyond any possible self-built system and delivers services to its customers on a 24/7 basis through its all digital (IP) MPEG-4 virtual head-end network. In addition, Avail Media possesses a large content rights library of over 300 channels from national programmers, including premier content from programmers such as ABC-Disney, Turner, NBC-Universal, MTV Networks, Fox Networks, Discovery, and many others. Additional information can be found at www.availmedia.com. Former CEO of Broadstream Communications and COO of Intelsat, Ramu Potarazu, will lead the combined company as CEO and former CEO of Auroras Entertainment, Diane Smith, will serve as President. Diane Smith commented, "As Auroras, we knew the combination of these companies could bring the market a comprehensive solution that addresses the complex needs of broadband and cable operators. Further, the strength of the teams at each respective company has been enjoyable to watch as we have deployed to our existing customer sets in Q1 and Q2 of this year. In addition and in conjunction with the Auroras transaction, Redwood Capital Group was an instrumental advisor in bringing Avail and Auroras together in a seamless transaction." Redwood Capital acted as financial advisor to Auroras Entertainment, Inc. in connection with the transaction. |
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