Wizzard Media Signs MOU with Leading Digital Media Distributor FAB

Wizzard Media WZE today announced the signing of a material agreement to acquire 100% of the outstanding shares of Digital International Entertainment, Founded in 2003, FAB is headquartered in Beijing and offers the largest selection in mainland China of copyrighted DVD's, Blu-ray Discs, music CD's, video games and downloadable digital content through three distribution channels – wholesale and retail, vending kiosks and internet stores. FAB had unaudited fiscal 2010 revenues of US$55.5 million, up 42.5% from fiscal 2009 revenues of US$39.1 million. Net income for fiscal 2010 was US$11.5 million, up 148.5% from net income of US$4.6 million in fiscal 2009. For more information on FAB, please click here.