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FAB Universal Corp. (FU) Signs Deal With Antaeus To Expand Retail Operations

|Includes: FAB Universal Corp. (FU)

FAB Universal announced that the company had signed a deal with Antaeus Cinema and Shouhang Supermarkets that would see FAB-branded retail mini stores in their locations. The FAB locations will allow customers of Antaeus and Shouhang the opportunity to download movies and music to smartphones as well as purchase CDs, DVDs, and other physical media/merchandise.

Based in Pittsburgh, PA, FAB is focused on providing media through kiosks, retail stores/franchises, as well as online via iTunes and Google Android. In 2011 the company distributed product in 240 countries to 50 million people via iOS, Android, and Windows Phone devices. FAB distributes digital product via kiosks networks, subscription sales for mobile devices, smartphone apps, and Netflix-like subscription models.

Antaeus Cinema and Shouhang Supermarkets will provide space to FAB at no charge, with FAB and the retail locations sharing profit generated by FAB kiosks and mini-stores. The initial 3-5 FAB locations will open in the first half of 2013 in Beijing, Chengdu, and Guangzhou.

Chris Spencer, CEO of FAB Universal Corp., said, "FAB is always looking for unique opportunities to accelerate growth and speed the adoption of our digital copyrighted content platform. These partnerships are substantial opportunities for FAB to grow its earnings and expand its brand. FAB plans to design a world-class digital entertainment mini-store model and continue to expand its highly profitable Intelligent Media Kiosk network."

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