PITTSBURGH--(BUSINESS WIRE)--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 firstname.lastname@example.org.
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