Viggle Inc. (Symbol: VGGL), the popular television loyalty
service has entered into an agreement to acquire GetGlue, the leading
social TV application, for cash and stock, Robert F.X. Sillerman,
Executive Chairman and CEO of Viggle announced today. The resulting
combined company will be the dominant force in the exploding social TV
Under the terms of the deal, Viggle will pay $25 million in cash and
48.3 million shares of stock for GetGlue. Viggle Inc. will operate the
Viggle and GetGlue brands, and GetGlue founder and CEO Alex Iskold will
join Viggle Inc. in a senior executive position on its management team
and as a member of its Board of Directors. Viggle will also absorb all
34 GetGlue employees.
"With this deal, we are combining very experienced and creative product,
engineering and management teams that will continue to build great user
experiences and provide industry leading platforms for consumers,
networks and advertisers," Sillerman said. "We will also be vastly
increasing the Viggle user base and quadrupling our network
partnerships. Viggle and GetGlue users can look forward to using the
apps they have come to love as we add new and appealing features made
possible by the combined resources of this clear industry leader."
Alex Iskold, Founder/CEO of GetGlue said "We are very excited to join
forces with Viggle! GetGlue has built a Social TV product that people
love, and Viggle has become their favorite loyalty program for TV.
Together we are positioned to deliver the next generation second screen
experiences that delight and benefit users, networks and major brands."
New York City-based GetGlue, founded in 2007, has been the leading
social network for entertainment, enabling users to check-in and
socialize while watching TV, discover what to watch via a personalized
guide, and find great videos, images, and links from their favorite
shows. It boasts more than 3.2 million registered users as well as a
database with more than 500 million entertainment ratings and check-ins.
GetGlueHD provides customers with a TV guide for the mobile era, listing
both TV and online content in calendar form.
Viggle, launched in January 2012, rewards its more than 1.2 million
registered users with points for their loyalty to and engagement with
content around their favorite TV shows. Points can be redeemed for
real-world rewards from places like Best Buy, Amazon, Fandango, Hulu
Plus and iTunes, among others. Viggle's audio verification technology
recognizes and allows users to check into live, DVR'd and online TV
content from more than 170 of the most popular broadcast and cable
Since launching, the company has added real time engagement experiences
Viggle LIVE and MyGuy to the platform. Viggle LIVE is a program of
voting, trivia and polls that's in synch with what the viewer is
watching in real time. MyGuy is a next generation fantasy sports game
that knows which teams are playing when the Viggle user checks into a
game on TV. Both platforms allow Viggle users to earn Viggle points
which they can redeem for real rewards. Available for free, Viggle can
now be downloaded from Verizon Apps, Google Play and the Apple App
Store. Viggle runs on iOS and Android-powered mobile devices with
version 2.2 or above. Allen & Company represented GetGlue in the
transaction, while Viggle handled the deal internally.
For complete details on the merger see Viggle's Form 8-K filed this date.
Today's deal is another in a series of recent acquisitions by companies
run by Sillerman. In the past five months, the entertainment mogul's SFX
Entertainment purchased two of the most prominent and successful
Electronic Dance Music (EDM) companies - Disco Donnie Presents and Life
in Color, (formerly Dayglow). Sillerman said SFX plans as many as 30-50
additional deals to come to fruition in the coming months, creating a
vast network of EDM producers and promoters.
This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and as
defined in the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve inherent risks and
uncertainties that could cause actual results to differ materially from
those projected or anticipated. All information provided in this press
release is as of November 19, 2012. Except as required by law,
Viggle Inc. undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements are
made or to reflect the occurrence of unanticipated events.
DKC Public Relations
Ed Tagliaferri, 212-981-5182
John C. Small, 646-738-3220