TORONTO, Dec. 2, 2020 /CNW/ — Engine Media Holdings, Inc. (TSX-V: GAME) (OTCQB: MLLLF) (“Engine Media” or the “Company“) announces that its wholly-owned subsidiaries Frankly Media LLC and Frankly Inc. have amended the existing secured credit facility (as amended, the “EB Loan“) with arm’s length lender EB Acquisition Company, LLC (the “Lender“), in connection with the advance of an additional US$1 million under the EB Loan, which is convertible at the option of the Lender, at a conversion price per share of US$11.25 (the “Conversion Shares“). The credit limit under the EB Loan of US$5 million is now fully drawn.
In connection with the amendment, the maturity date of the EB Loan has been extended from January 5, 2021 until January 5, 2022. Additionally, the Company has guaranteed the obligations under the EB Loan and has granted a security interest in favour of the Lender over the assets of the Company. In consideration of the extension of the maturity date, the Company has agreed to issue to the Lender an aggregate of 6,666 common shares in the capital of the Company at a deemed price per share equal to US$5.77 (the “Bonus Shares“) and an amendment fee of US$100,000 which forms part of the outstanding principal under the EB Loan. The Bonus Shares issuable will be subject to a hold period expiring four months and a day following the date of issuance, as well as restrictions on transfer under applicable United States securities laws.
The amendment to the EB Loan and the issuance of the Conversion Shares and Bonus Shares have been conditionally approved by the TSX Venture Exchange (the “TSXV“), pursuant to its policies regarding private placements and loans, bonuses, finder’s fees and commissions, respectively. In the event any interest payable under the EB Loan is to be converted in the future, such conversion will be subject to the approval of the TSXV pursuant to its policies regarding shares for debt. The Company expects the TSXV to provide final approval for the aforementioned transactions in due course.
About Engine Media Holdings, Inc.
Engine Media is focused on accelerating new, live, immersive esports and interactive gaming experiences for consumers through its partnerships with traditional and emerging media companies. The Company was formed through the combination of Torque Esports Corp., Frankly Inc., and WinView, Inc. and trades publicly under the ticker symbol (TSX-V: GAME) (OTCQB: MLLLF). Engine Media will generate revenue through a combination of direct-to-consumer and subscription fees; streaming technology and data SaaS–based offerings; programmatic advertising and sponsorships; as well as intellectual property licensing fees. To date, the combined companies have served clients comprised of more than 1,200 television, print and radio brands including CNN, ESPN, Discovery / Eurosport, Fox, Vice, Newsweek and Cumulus; dozens of gaming and technology companies including EA, Activision, Blizzard, Take 2 Interactive, Microsoft, Google, Twitch and Ubisoft; and have connectivity into hundreds of millions of homes around the world through their content, distribution and technology.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved. Forward-looking information contained in this news release include, but are not limited to, statements regarding Engine Media’s obligations under the EB Loan and the business of the Company and its anticipated sources of revenues. In making the forward-looking information contained in this news release, management of the Company has made assumptions which they believe to be reasonable in the circumstances, including assumptions relating to the Company’s ability to perform its obligations under the EB Loan as well as assumptions regarding the Company’s prospects and business strategy. Forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine Media to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including risks relating to general market conditions, competition, credit risk and other factors. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release. The forward-looking information contained in this news release are made as of the date of this release and, the Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Engine Media Holdings, Inc.
'The US is falling apart': How Russian media is portraying the US Capitol siege – The Conversation US
The storming of the U.S. Capitol on Jan. 6, which was Christmas Eve for Eastern Orthodox Christians, was a perfect holiday gift for Russian politicians and state-controlled Russian media.
While President Vladimir Putin has remained silent so far, reaction from political leaders was instantaneous, and the topic has dominated Russian news coverage ever since.
Maria Zakharova, a spokesperson for the Russian Foreign Ministry, said that while the siege is “an internal affair,” it’s important to point out that the “electoral system of the U.S. is archaic.”
Konstantin Koschev, head of the International Affairs Committee of the Federal Council, the upper chamber of Russian Parliament, proclaimed “the end of the celebration of democracy.”
Russian media have been eager to take up these points.
For years, the pro-Kremlin media has exalted stability as the core virtue of Putin’s “sovereign democracy” – a term coined by Putin.
As a scholar of post-Soviet politics, I’ve watched how state-controlled Russian media have portrayed pro-democracy protests in countries surrounding Russia, including my native Ukraine, as CIA-led efforts to destabilize Russia.
The storming of the U.S. Capitol by pro-Trump rioters has allowed Russian media outlets to change the conversation and depict the siege as the final collapse of the U.S. political system and democracy itself.
Russian coverage of the Capitol insurrection points out the perceived hypocrisy of Democratic leaders and the U.S. media.
Russian state-controlled media have repeatedly juxtaposed Democratic outrage over former President Donald Trump’s role in the siege against the party’s support for the “BLM and antifa summer riots” – their term for racial justice protests last summer in the wake of George Floyd’s death.
State-controlled media have also highlighted allegations – debunked in the U.S. – that members of antifa, a left-wing protest movement, and Black Lives Matter participated in the storming of the Capitol. “Time Will Tell” and “60 Minutes,” two pro-Kremlin news talk shows on the state-run Russia 1 TV channel, have dedicated air time to this allegation.
The upshot of such coverage juxtaposes the disorder in the United States to the order and stability in Russia – a favorite message of Russian propagandists.
‘Digital gulag for Trump’
Somewhat surprisingly, members of both the Russian political opposition and the country’s pro-Putin political elite assert that the suspension of Trump’s social media accounts amounts to censorship and undermines democracy.
Such statements from people like Vladimir Zhirinovsky, the bombastic nationalist leader of the Russian Liberal Democratic Party, come off as hypocritical in a country whose ruler’s power is based on censorship and anti-democratic measures, but are not surprising.
But Alexei Navalny, the Russian opposition leader and Putin critic who was poisoned and almost died last August and was recently jailed upon his return to Russia, also criticized Trump’s Twitter ban. He is likely worried that the Russian government will mimic companies like Twitter in its own censorship efforts.
Yet, there is also much relish for discussing Trump’s Twitter ban among Russian propagandists. That included Vladimir Soloviev, a popular television host, who has dubbed it the “digital gulag for Trump.” He has argued that the social media ban is part of an ongoing campaign to silence Trump and his supporters.
On Jan. 13, the hosts of the evening talk show “Time Will Tell” reacted with horror at the “police state” and “repressions” of pro-Trump rioters at the Capitol.
The hosts likened the tips received by the FBI from the public to citizens snitching on each other – a remark that resonates with anyone aware of former Soviet leader Josef Stalin’s reign of terror.
They also insisted that Trump supporters have become the “enemies of the people,” after Sen. Chuck Schumer urged the FBI to add Capitol rioters to the federal no-fly list.
This portrayal of Trump and his supporters as persecuted political dissidents has been used to further highlight the argument that American democracy is steeped in hypocrisy.
‘US is falling apart’
So-called U.S. disintegration has been a favorite topic for the state-controlled network Russia 1. The hosts of “Time Will Tell” have repeatedly reinforced this point by referring to the U.S. as “United, for now, States.”
During a recent broadcast, host Anatoly Kuzichev repeatedly said, “the U.S. is falling apart.”
RT, another state-controlled media outlet formerly known as Russia Today, reinforced a similar claim by quoting the former Soviet leader Mikhail Gorbachev, who said the Capitol insurrection has “called into question the future fate of the United States as a state.”
If Russian media outlets are to be believed, there are no longer any beacons of democracy left in the world. Margarita Simoniyan, chief editor of RT, summed up that view in a tweet: The United States “never were” a model of democracy.
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Iyuno Media Group Enters Agreement to Acquire SDI Media – Canada NewsWire
“The media and entertainment industry has been growing rapidly in recent years with the rise of video streaming services and we have seen media companies merge to create and deliver more content to more diverse audiences around the world,” said David Lee, Executive Chairman, Iyuno Media Group. “Now, more than ever, viewers are watching internationally produced programs localized in their language. This creates an increased demand to produce the breadth of languages needed, delivered at the scale and speed that our customers require.”
Consumer spending on content is predicted to double from 2019 to 2024; this explosive growth brings with it a parallel increase in demand for high quality localized content.
“As two of the leading media and entertainment localization service providers in the world, together we will provide an unprecedented solution to the market,” continued Mr. Lee. “Both companies are perceived as leaders of quality services, global coverage and innovation. By combining the two, our goal is to effectively support the rapidly growing need from media businesses around the world – not only by offering scale, global coverage and end-to-end capabilities across our worldwide operations – but also by utilizing state-of-the-art technologies such as AI to bring true best-in-breed support for the industry.”
“We are excited to join Iyuno and become part of the industry’s leading localization services company,” said Mark Howorth, Chief Executive Officer, SDI Media. “We believe that the increasing global content distribution needs of the industry can only be served by a complementary service provider that can scale with them in support of their needs.”
Iyuno was supported in this transaction by Altor, Shamrock Capital and SoftBank Ventures Asia, its primary financial partners. The three investors are pleased to see this sustained momentum in the expansion and diversification of the Iyuno Media Group portfolio. The completion of this transaction remains subject to review and approval from relevant authorities.
ABOUT IYUNO MEDIA GROUP
Iyuno Media Group (www.iyunomg.com) is a market leader in media localization with leading-edge technology providing dubbing, subtitling and media engineering services in over 80 languages. An innovative trailblazer with grounded core values in an ever-changing industry, Iyuno Media Group uses its sophisticated in-house technology for all of its product and service offerings. Today, the company operates 35 local facilities globally, spanning a network of fully owned sites across 30 countries in Europe, Asia and The Americas – offering end-to-end solutions for broadcasters, all major film studios, OTT and streaming platforms.
ABOUT SDI MEDIA
SDI Media (www.sdimedia.com) is one of the world’s leading media localization providers offering dubbing, subtitling and media services to content owners, broadcasters and multi-platform distributors. SDI Media offers a complete end-to-end localization solution for theatrical releases and episodic series, using one of the most comprehensive suites of customizable localization software applications in the industry. Its network of 33 owned and operated dubbing facilities in Asia, EMEA and the Americas boast over 150 recording rooms and 85 mixing rooms globally.
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding Iyuno’s strategy to provide enhanced localization and translation solutions utilizing SDI Media’s assets, the expected completion of the acquisition and the timeframe in which this will occur, and the expected benefits to Iyuno and its customers of completing the acquisition. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, that conditions to the completion of the transaction may not be satisfied or such completion may be delayed, the potential impact on the business of SDI Media due to the uncertainty about the acquisition, the retention of employees of SDI Media and the ability of Iyuno to successfully integrate SDI Media and to achieve expected benefits, business and economic conditions and growth trends in relevant markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment, and other risk factors. Any forward-looking statements in this release are based on limited information currently available to Iyuno, which is subject to change, and Iyuno will not necessarily update the information.
SOURCE Iyuno Media Group
For further information: Chris Carey, +1 818.681.9224 or Brianna Appel, +1 818.823.3289, [email protected], http://www.iyunomg.com
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