WRIT Media Group, Inc. last week announced that it has entered into exclusive negotiations with private equity firm Pandora Venture Capital Corp. to acquire its digital currency technologies. This would be the first investment by WRIT Media Group into digital currency technologies.
Under the agreement, WRIT Media Group would acquire a controlling interest in the technologies. The company plans to use the digital technologies to organize trade in digital currency instruments. The potential acquisition will also include a digital currency which combines the advantages of its unique marketing model which creates the actual value, and the most popular system of mining cryptocurrency Bitcoin.
The equity for the transaction would be provided by WRIT Media Group, Inc., with additional funding provided by Pandora Venture Capital and its related European private equity partners. The offer is subject to WRIT Media Group's due diligence of the relevant technologies, and all parties will enter into the final negotiations on successful completion of this process.
WRIT Media Group, Inc. was incorporated in the State of Delaware on March 9, 2007 under the name of Writers’ Group Film Corp. to produce films, television programs and entertainment programs for various media formats. The company owns Front Row Networks, a content creation company providing production, distribution and financing of live concerts, music documentaries, and family programs for theatrical and ancillary distribution; and the “retro” video gaming companies, Retro Infinity Inc. and Amiga Games Inc. which are leading videogame publishers of classic games, including the Amiga brand, for a wide range of smartphones and mobile devices.
