Digital Utilities Ventures Finalizes Merger to Acquire Hundred Percent of TORQ Communications
Digital Utilities Ventures, Inc., (DUTV) , an innovator in Internet Protocol video transport systems, recently announced that it has finalized the merger to acquire 100 percent of TORQ Communications, thereby establishing “Vizzage” as the first open source network.
The company said that it will shortly release details of the merger and how it will strengthen the new broadcast network called Vizzage which will allow users to develop their own content and upload it to the IPTV Broadcasting network.
The new broadcast network will unleash the full power of individuals as the ultimate content creators, broadcasters and Smart TV producers. In other words, just about anyone will be able to produce programming with an unlimited range of subjects covering live broadcasts of concerts, Web series, independent films, multiline news shows that will show all broadcasting for all walks of life.
"This platform will allow for live streams of video games, championships and Xgames style sports, live theater, learning shows, comedy, painting, music, cooking and more. It will also end the TV industry’s virtual monopoly of content and energizing an untapped treasure trove of global talent," said Garry McHenry, the chief executive officer of DUTV. He went on to add that the new broadcast channel will be the "World Studio" for the Internet. He also said that anyone will now be able to upload and showcase their talents on the Vizzage Network and be seen globally on TV.
McHenry added that the merger will enable them to establish their brand worldwide and this partnership will change the way broadcasting has been done traditionally for the last 80 years. ”We expect to showcase our brand logo and business plan and projections in the coming weeks via our corporate website and other investor and consumer mediums. The merger took much longer than anyone had expected but fortunately we have successfully completed this deal and look forward to moving full speed ahead this year with our IPTV vision and technologies," concluded McHenry.
The details of the TORQ merger including new corporate strategies, potential partnerships with U.S. based carriers, revenue projections and the assignment of a new TORQ management team is to be announced in the coming weeks.
Digital Utilities Ventures is an intellectual property company and advanced technology incubator incorporated in the State of Delaware in June 2006. The company was formed to utilize its innovative, Internet to TV and Cell Phone Communications System for the domestic and international Quad-Play/Convergence services market. The company went public on March 26, 2009.
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Edited by Rich Steeves