Madison Technologies, Inc. Acquires Permits for Stations in San Juan, Boise and Bakersfield, CA.

Rhea-AI Summary

Madison Technologies, Inc. (OTCQB:MDEX) has announced its acquisition of Construction Permits in San Juan, PR, Boise, ID, and Bakersfield, CA, enabling the establishment of new TV broadcast stations in these locations. This move aligns with the company's strategy to expand its nationwide broadcast platform and finalize its OTT streaming services, now in testing. CEO Philip Falcone highlighted the potential for capturing the attention of younger audiences through unique content and innovative delivery methods. The OTA market continues to thrive, with 20 million households using OTA antennas in the U.S.

Positive

• Acquisition of permits for new broadcast stations in three key locations enhances market presence.
• Strategic expansion of OTT streaming platform supports future growth potential.
• Opportunity to engage younger viewers through innovative content delivery.

Negative

• Potential challenges in integration of new broadcast stations.
• Dependence on evolving market trends may pose risks to business strategy.

NEW YORK, NY / ACCESSWIRE / December 14, 2021 / Madison Technologies, Inc., (OTCQB:MDEX) today announced the purchase of Construction Permits (CP's) in San Juan, PR, Boise, ID and Bakersfield, CA. The acquisitions allow for Madison to buildout television broadcast stations located in those cities. Upon completion, Madison will have finalized the requirements and be granted licenses to operate, adding to their existing portfolio as they continue their buildout of their broadcast platform as planned.

Madison's goal is to continue with it's acquisition strategy of building out a nationwide broadcast platform and finalize their nearly completed OTT streaming platform which is now in testing face. Upon completion, their stations will be geographically synced on their OTT platform allowing the consumer to view the station content for free both Over-the-Air (OTA) and Over-the-Top (OTT) in their respective DMA.

"We continue push forward with our plan of not only building out the broadcast platform but also exploring opportunities on the tech side and even on the content side to capitalize on the changing marketplace", said Philip Falcone, Founder, and CEO of Madison Technologies, Inc. "We think there is an opportunity to zero in on the younger generation that are not necessarily TV watchers today. To capture their attention though the content has to not only be unique but the delivery has to also change and we are doing our work feverishly on both". Falcone, who is not deterred by what he says was a planted, "hit job" with the recent press, continues to move aggressively forward. "People will write what they write and do what they do for their own selfish reasons but the best thing I can do is to continue to create shareholder value by thinking outside the box and building out our platform, which is what I will do", said Falcone.

Strong Tailwinds for OTA TV and Online Streaming

Consumers have embraced cutting the cord trend and moving to broadband (Netflix, Apple, Disney) and OTA (to continue to watch the basics). OTA households alone have doubled over the last 10 years to 20MM, becoming a material part of the addressable TV universe.

As cord-cutting continues to accelerate in conjunction with other factors (e.g., censorship) affecting distribution, the need for an alternative distribution platform will accelerate, ultimately driving higher rates and higher valuation all without even factoring in the true value of the spectrum.

The OTA market represents a compelling market opportunity. With an estimated 107MM TV households in the U.S., 57.9MM households use Cable, 28.7MM use alternative or satellite dish delivery systems while 20.4MM use OTA antennas - representing 44.8MM people. As any TV set purchase comes equipped by federal law to be OTA accessible, the adoption opportunities are massive if the right offer is presented to the market that is already growing weary of the recurring costs associated with content subscriptions.

An even bigger opportunity lies in the forthcoming advent of NextGen TV. In late 2017, the Federal Communications Commission (FCC) voted to allow broadcasters to use the Next Gen TV using the new ATSC 3.0 broadcast standard on a voluntary basis. This new OTA broadcast technology offers high definition, mobile video, 4K resolution video, interactive features like polling and voting as well as e-Commerce capabilities for TV-based shopping. Sovryn's plans include leveraging these innovations and others to bring a truly modern interactive experience to consumers for free.

About Madison Technologies

Press Contact

Investor Relations
Madison Technologies, Inc.
770-235-6053
info@go.tv

SOURCE: Madison Technologies, Inc.

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FAQ

What are the details of Madison Technologies' recent acquisitions?

Madison Technologies acquired Construction Permits for new TV broadcast stations in San Juan, PR, Boise, ID, and Bakersfield, CA.

How does the acquisition impact Madison Technologies' growth strategy?

The acquisition supports Madison's plan to expand its nationwide broadcast platform and finalize its OTT streaming services.

What is the significance of the OTA market for Madison Technologies?

The OTA market represents a growing opportunity, with 20 million households using OTA antennas in the U.S., reflecting consumer preferences for cost-effective viewing.

What future projects does Madison Technologies plan?

Madison Technologies aims to leverage NextGen TV technology and create unique content to engage younger audiences.