PITTSBURGH, Dec. 10, 2015 (GLOBE NEWSWIRE) -- WhereverTV Broadcasting Corp. (OTC:TVTV), a leader in delivering Over the Top (OTT) subscription television services to a variety of devices including smartphones, TabletPCs, streaming media players, computers and connected TVs, today announced that Mark Cavicchia, its founder and inventor of its core patent – the Global Interactive Program Guide – will be immediately stepping down as co-Chairman and Chief Digital Officer. There have been no changes in Mr. Cavicchia’s equity ownership in the Company and he has pledged to make himself available as needed to the Company and its management team.
“It has been 10 years transforming an idea into reality,” said Mr. Cavicchia. “And now I look forward to enabling Mr. Edward Ciofani, the new CEO, and his team develop the WhereverTV subscription packages that eluded me during my tenure. I believe it is in the best interest of WhereverTV and its shareholders for the new management team to execute their strategic plans. Meanwhile, I will be transitioning to Director and Chief Digital Officer at RC21X, a digital brain health startup that is currently testing retired players involved in the NFL Concussion Settlement. However, as a majority shareholder of WhereverTV, I will remain committed and available to WhereverTV and its management going forward,” he added.
WhereverTV and the Global Interactive Program Guide evolved from an idea Mr. Cavicchia had while living in Shanghai in 2005, and seeking to watch US based in-language channels via the internet. He applied for the Global Interactive Program Guide patent in 2006, and developed the first WhereverTV prototype in 2007. The company was founded and WhereverTV was launched to the world on July 9, 2008 at the SINO Consumer Electronic Show held in Qingdao, China. It was the first time an American product was launched at SINO CES.
About WhereverTV Broadcasting Corporation (Symbol: TVTV)
Founded in 2007, WhereverTV is the next generation subscription television service providing consumers with live-streaming, genre-specific, and in-language viewing choices from around the world, delivered to anywhere in the world, and through any internet enabled device. Programming is identical to existing broadcast and distribution providers with the only differences being that the broadcast signals are accessed through the internet via an over the top (OTT) platform, and channel management is handled by company’s patented Interactive Program Guide (IPG) technology. WhereverTV provides an economically beneficial and completely versatile alternative to traditional cable and satellite services, with the added benefits of personalization and portability. Also known as Internet TV, WhereverTV delivers these same channels, shows and events to SmartTVs and digital media receivers including: GoogleTV, AppleTV, Roku, Amazon Fire TV, iPhone, iPad, iPod Touch, Droid Smartphone, and TabletPCs. The WhereverTV platform enables subscribers to access licensed and free-to-air content across these devices with the IPG across unlimited geographies, and wherever there is internet connectivity. The customer viewing experiences are based on customer location (geo-targeting) and content-rights management (subscriptions). Current in-language subscription offerings include Arabic TV, French TV, Italian TV, and Moroccan TV. Current genre specific subscriptions include NEWS channels, faith based channels and more. Apps are presently available for free in App Stores for iOS (Apple), Android and Amazon Fire TV devices. DVR functionality to record your shows and view later is presently in the works. Licensed US TV content subscriptions will be available in 2015. Please visit: www.wherever.tv, for more info.
This news release contains forward-looking statements, which may not be based on historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by applicable securities laws, the Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.
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