Acquires Azteca America Affiliate T.V. Station KRRI-LD in Reno Nevada
RENO, NV / ACCESSWIRE / October 25, 2021 / Adaptive Ad Systems, Inc. (OTC PINK:AATV), a company that provides Dynamic Digital Ad Insertion (DDAI) via its streaming media hardware and proprietary processing software for the U.S. cable T.V. and Satellite markets, announced today that it has acquired Telemundo television Affiliate KRRI-LP in Reno, Nevada.
In connection with the acquisition, J. Michael Heil, the Company's CEO, stated: "Industry insiders have viewed Adaptive as a leader in creating cutting-edge technology for the television ad insertion industry for many years. Our management and technology teams have worked in the satellite television and cable television industry for decades. Now, the Company has expanded its suite of projects and market segments by making an initial entrance into broadcast television with the acquisition of T.V. station KRRI-LP."
An Azteca America affiliate for over ten years, the station commenced broadcasting Azteca in May 2010 and is located on channel 25 in Reno, Nevada. On local cable, the station is carried on Spectrum Channel 238 and Channel 53 on Satview Broadband Cable in Elko, Nevada.
Azteca America is an American Spanish-language free-to-air television network owned by HC2 Broadcasting, a subsidiary of INNOVATE Corp., a NYSE company (VATE). Innovative owns 230 broadcast stations in over 90 markets, including 34 of the top 35 markets. Headquartered in New York City, the network's programming is aimed at the Hispanic and Latin American communities in the United States. It has access to programming from Azteca's three television national networks in Mexico, including a library with over 200,000 hours of original programming and news content from local bureaus in 32 Mexican states. Its programming consists of a mix of telenovelas, drama series, news programming, and reality and variety series.
Mr. Heil adds, "Our team has a lot of experience in television, and we are in the process of researching and developing the types of products we can make available to our growing network by experimenting and expanding with different opportunities in the television industry. Our latest acquisition addresses a very fast-growing Hispanic market in the U.S. and is just one indicator of our creative thinking moving into the future."
THE ADAPTIVE SYSTEM
Adaptive allows advertisers across the U.S. to purchase ads inserted into a linked group of the Adaptive digital T.V. advertising system. Adaptive Ad Systems manages all ad-related activities, provides all technical support, ad-sales, traffic, and billing. Adaptive has established an innovative revenue share agreement with each cable television system.
Adaptive Ad Systems Inc. is a digital media and video communications company that together with its subsidiary manufactures, develops and deploys dynamic digital ad insertion (DDAI) and video streaming media hardware and proprietary processing software for the Cable T.V., Satellite T.V., and IPTV markets, and High Speed Fixed Wireless Internet Service (WISP) via a network of Hybrid Access Points and Micro POPs. Adaptive's primary focus is the 2nd and 3rd tier U.S. markets. Adaptive exclusively sells all available advertising space in each market across multiple national cable television networks while maintaining complete technology ownership. Adaptive has implemented a compelling profit-sharing model with its cable T.V. partners. The Company serves over 200 designated marketing areas in approximately 39 states. Adaptive also provides broadband and cable T.V. services in some niche markets. For additional information, please visit www.adaptiveadsystems.com.
Any statements contained in this press release that do not describe historical facts constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, information regarding the plans and objectives of management for current and future operations, the development, regulatory approvals, and commercialization of the Company's products, or any of the Company's proposed services, systems, partnerships, or acquisitions. Such forward-looking statements are not meant to predict or guarantee actual results and performance, and actual events or results may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, the Company's delays in the development of its products, the inability to obtain additional financing, the impact of significant new or changing government regulation on the industry, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's general failure to implement the Company's business plans or strategies. The Company assumes no obligation to update any forward-looking statements to reflect any change in events or circumstances that may arise after the date of this release.
SOURCE: Adaptive Ad Systems, Inc.