Stmnt re Share Price Movement

 

TIDMBRST 
 
RNS Number : 5831W 
Burst Media Corporation 
30 July 2009 
 

30 July 2009 
 
 
Burst Media Corporation ("Burst" or the "Company") 
 
 
Statement re recent share price movement 
 
 
The board of directors of Burst (the "Board") has noted the recent movement in 
the Burst share price and the statement, dated 30 July 2009, by Cyberplex Inc. 
("Cyberplex") regarding a proposal that it had made to the Board to acquire all 
of the outstanding shares of Burst common stock for a consideration of 12p per 
share in cash (the "Indicative Approach"). 
 
 
The Board acknowledges that it received the unsolicited Indicative Approach from 
Cyberplex. The Board fully evaluated the Indicative Approach and concluded that 
it was opportunistic and unreflective of the worth of the Burst businesses. 
 
 
As previously highlighted, the Board remains focused on generating shareholder 
value by continuing the successful development of the Company and by leveraging 
Burst's relative operational and financial strength to add critical mass to its 
businesses. The Board notes in this regard that the Cyberplex statement contains 
the following passage: "We have a strong admiration for what Burst has been able 
to accomplish in terms of building a great brand in the CPM network space, as 
well as the development of strong publishing relationships against which growth 
can be accomplished". 
 
 
The Board would also highlight that Burst is one of the top 20 ad supported 
properties in the U.S. as measured by reach (ComScore) with a strong, 
well-recognized and trusted image. The Company has long-standing relationships 
with hundreds of the Internet's best independent web publishers, a list of 
desirable blue chip advertising customers, and customers of its adConductor unit 
that are among the world's largest media companies. In addition, Burst has some 
of the industry's most experienced and knowledgeable employees. 
 
 
Burst continues to have a strong balance sheet with good cash reserves and no 
debt and, as reported in the Company's trading update of 16 July 2009, recent 
trading has been positive. 
 
 
The Board's evaluation was communicated to Cyberplex and, as acknowledged in the 
Cyberplex statement, the Board rejected the Indicative Approach. The Board 
confirms that there are no ongoing discussions with Cyberplex regarding the 
Indicative Approach. 
 
 
It should be noted that, as a US corporation, the City Code on Takeovers and 
Mergers does not apply to the Company. Further announcements will be made as 
appropriate. 
 
 
Enquiries: 
 
 
+------------------------------------+------------------------------------+ 
| Burst Media Corporation            |                                    | 
+------------------------------------+------------------------------------+ 
| Jarvis Coffin, Chief Executive     | Tel: [phone]               | 
| Steve Hill, Chief Financial        |                                    | 
| Officer                            |                                    | 
+------------------------------------+------------------------------------+ 
|                                    |                                    | 
+------------------------------------+------------------------------------+ 
| Altium                             |                                    | 
+------------------------------------+------------------------------------+ 
| Tim Richardson / Paul Chamberlain  | Tel: [phone]          | 
+------------------------------------+------------------------------------+ 
 
 
+------------------------------------+------------------------------------+ 
| Hudson Sandler                     |                                    | 
+------------------------------------+------------------------------------+ 
| James White                        | Tel: [phone]          | 
+------------------------------------+------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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