FAB Universal Board Reviewing Recent Agreements

PITTSBURGH--()--Today, FAB Universal (OTC: FABU) released the following statement: Beijing FAB Cultural Dissemination Co. Ltd., a PRC Company (name translated from the Chinese), has entered into four agreements to acquire license rights to film and television content for distribution to consumers at a total cost of 525 million RMB paid over three installments. The Company's full board of directors recently became aware of the transactions and is taking steps to determine their circumstances.

About FAB Universal Corp.

FAB Universal Corp. is in the business of digital media entertainment sales and distribution through three business units: Digital Media Services, Retail Media Sales and Wholesale Media Distribution. FAB is a publicly held Pittsburgh based company, with thousands of shareholders and a world-class team. Visit us on the web at www.fabuniversal.com, email us at contact@fabuniversal.com.

Legal Notice

“Forward-looking Statements” as defined in the Private Securities litigation Reform Act of 1995 may be included in some of the information or materials made available on this website. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our change in business strategy towards more heavy reliance upon on our new talent segment and wholesale channels, actions of regulators (either in the US or China) concerning our business operations or trading markets for our securities, the extent to which we are able to develop new services and markets for our services, our significant reliance on third parties to distribute our content, and the level of demand and market acceptance of our services.

Contacts

FAB Universal Corp.
Greg Jakub, 412-621-0902

Contacts

FAB Universal Corp.
Greg Jakub, 412-621-0902