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Ocean Tomo Auctions to Sell Leading Internet Television Network in April Live Auction

Posted on: Friday, 16 February 2007, 12:00 CST

Ocean Tomo Auctions, LLC today announced the sale of www.WorldNetCast.com, one of the world's premier Internet television networks, with a geocentric TV strategy driven by 775 location-based TV channels. The portfolio of domain names, existing content, and advertising and distribution agreements will be offered in a single lot (Lot 55) by the Unifund Corporation at The Ocean Tomo Spring 2007 Live Intellectual Property Auction on April 19th at the Union League Club of Chicago.

Uniquely Profitable Business Model

WorldNetCast, featured recently in Forbes, has developed a commercially-viable, online video business model, where each of its 775 geographically-based TV channels is community-built and developed with local editorial and marketing partners. The network provides professionally produced programming, community-relevant user created video content with distribution/syndication to other affinity sites and a verifiably receptive broadcast venue for advertisers ranging from local merchants to national and international brands.

"In light of the major shift in the Internet video space toward professionally-produced content joined with the power and immediate relevance of user-generated local video, we immediately recognized the opportunity to bring this one-of-a-kind location-based Internet television network to our unique auction platform," said Dean Becker, Vice Chairman of Ocean Tomo LLC. "We expect that the public auction format will help realize the very significant viewer and advertiser value of the WorldNetCast network."

Fastest Growing Segment of Web

At the recent World Economic Forum, Microsoft Chairman Bill Gates stated: "The Internet is set to revolutionize television within five years, due to an explosion of online video content and the merging of PC's and TV sets. In the years ahead, more and more viewers will hanker after the flexibility offered by online video and abandon conventional broadcast television, with its fixed program slots and advertisements that interrupt shows."

Key Marketing and Advertising Component

eMarketer, a media research consultancy, reports that Internet video advertising is growing at ten times the rate of all other forms of web advertising and WorldNetCast is uniquely positioned to be a major participant, as it attracts an increasing number of national and international brands and multinational advertisers including GlaxoSmithKline, American Express, Ford, Procter & Gamble, Cingular, US Postal Service, Netflix, Holiday Inn, Starwood/Sheraton Hotels, the Food Network, Subway restaurants and an array of financial and healthcare groups, as well as economic development and regional tourism promotion agencies.

This offering is anticipated to draw international attention and attract companies which focus on Internet and new media, mobile TV/telecom platforms, geographic content delivery, and those delivering cross platform advertising solutions.

"WorldNetCast is pleased to join Ocean Tomo Auctions in providing a global venue for our rapidly growing location-based television network," said seasoned inventor Nathan Sassover, who is well-known for his invention of the vehicle keyless remote security system. "As a global affiliate network WorldNetCast has a viable business model focused on ultra-relevant video within a local TV context, which we believe will unify Internet television and mobile TV and redefine the broadcast television industry."

For more information on Lot 55, The Ocean Tomo Spring 2007 Live Intellectual Property Auction or to register to attend the event, please call 312.377.4851 or visit www.oceantomoauctions.com.

About Ocean Tomo Auctions:

Ocean Tomo Auctions, the auctions arm of Ocean Tomo, LLC (www.OceanTomo.com) -- the country's leading Intellectual Capital Merchant Banc® firm -- has received global recognition as the leader in the live auctioning of intellectual property assets for some of the world's largest and most established companies. Hundreds of key decision makers in the intellectual property and financial communities attend and participate in the auctions and related workshops, including C-level executives, Fortune 500® IP professionals, investors, small to mid-size companies, inventors and media professionals. Ocean Tomo Auctions has been featured on CNBC, Bloomberg TV, The Wall Street Journal, Forbes, Barron's, Red Herring, BusinessWeek, Reuters and others. The live auctions are held in the spring and fall in the U.S. and in the summer in Europe.

Source: Business Wire

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