Vivendi Universal Acquires FIREFLYFANS.NET in Move to Strengthen Web Audience for Universal Studio's Firefly Movie 'Serenity'

POSTED BY: Haken
UPDATED: Monday, April 12, 2004 22:27
VIEWED: 21016
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HAKEN

Thursday, April 1, 2004 6:52 PM

FFF.NET is two years old today! As an added bonus, looked what happened to us on this very special day.

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(BUSINESS WIRE)--April 1, 2004--Vivendi Universal (NYSE: V - news):
Price is $1 per share or approximately $18 Million in Cash and Stock
FIREFLYFANS.NET to Provide Leading-Edge Technology Website for Community and Proliferation of Firefly Content
Multiple Revenue Streams to Enhance Vivendi Universal's Online Strategy
FIREFLYFANS.NET Will Continue to Function as an Independent Distributor of Firefly Related Content for All Firefly fans
Vivendi Universal (Paris Bourse: EX FP; NYSE: V) announced today that it will acquire FIREFLYFANS.NET, Inc. (Nasdaq: FFF - news) for $18 million ($1 per share) in a friendly, combined cash and stock transaction. FIREFLYFANS.NET represents a major acquisition and is expected to strongly reinforce Vivendi Universal's digital efforts in the strategic areas of online entertainment, community, branding, technology and all its content.

FIREFLYFANS.NET shareholders have the ability to elect $1 per share in cash, a number of Vivendi Universal shares (in the form of American Depositary Receipts) having a value of $1, or any combination thereof, subject to aggregate transaction consideration caps of 50% cash consideration and 50% share consideration, which may result in proration. The transaction has been structured as a reorganization that will be tax free to FIREFLYFANS.NET shareholders to the extent they receive Vivendi Universal shares. Consistent with its previous statements, Vivendi Universal will not issue new common shares in this transaction, but will use treasury shares for the share portion of the aggregate transaction consideration. The Board of Directors of FIREFLYFANS.NET has unanimously approved the transaction. Holders of more than 50% of FIREFLYFANS.NET's outstanding shares have agreed to vote in favor of the transaction.

FIREFLYFANS.NET ( www.fireflyfans.net) will maintain its role as the premier distributor of fan-based Firefly content on the Internet. The company will continue to feature content from all fanfic writers and from all fan artists. There are currently over 40,000 artists from more than 130 countries that make their fanfic and art available to Firefly fans through FIREFLYFANS.NET. Currently, more than 75% of online Firefly related content are being promoted on FIREFLYFANS.NET.

Firefly Related Content Online

FIREFLYFANS.NET is a candidate to provide state-of-the-art technical contributions for FIREFLY UNIVERSE and create an online massively multiplayer gaming subscription service. FIREFLY UNIVERSE is expected to launch this summer.

Branding

Vivendi Universal is to acquire one of the top worldwide Internet brands. FIREFLYFANS.NET's brand and web site are well-known to a global online gathering of Firefly fans and artists (Browncoats). The company is expected to contribute a huge audience to Vivendi Universal's already-impressive online entertainment fold. The brand is particularly popular among fans of Firefly, a popluar television series from "Buffy: The Vampire Slayer" creator Joss Whedon.

Technology

FIREFLYFANS.NET is a technology leader in the delivery of online Firefly content. Recently, it pioneered the digital content delivery revolution and built The Blue Sun Room, which is designed to connect various segments of the Firefly community through fanfics and art. The Blue Sun Room allows the Firefly fans to interoperate in ways previously unavailable by connecting Firefly fanfic writers, artists, and custom online software tools.

FIREFLYFANS.NET possesses proprietary-patented technology for information distribution and has comprehensive solutions in data management and tracking. FIREFLYFANS.NET's proven distribution technology can power not only textual content, but also video and audio content.

FIREFLYFANS.NET technologists have an exceptional track record of creating industry-leading technology relating to a variety of contents and interfaces that include digital distribution, databases and e-m

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