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WOWIO Names Robert Estareja New CEO
Executive with M&A background to lead company’s growth via acquisition strategy
By: Wowio, Inc.
“Robert is highly skilled at developing acquisition programs to increase revenue and build assets,” said Altounian, who will remain Chairman of its Board of Directors for now but is stepping down from the executive role to pursue other entrepreneurial and charitable interests outside of the Company. “His success comes from being professional and intuitive with the goal of "adding value" to his clients. Being an effective negotiator and closer has accomplished several financial goals for his previous clientele.”
Prior to joining Wowio, Mr. Estareja spent 15 years an advisor to a diversified, international investment management group with over $13 billion in assets under management, where he spearheaded the group's technology investments, strategic relationships and corporate development activities. He provided additional advisory services to a REIT that has over $3 billion in assets; a financial services company that grew from $6MM in revenues to over $90MM through an aggressive merger and acquisition strategy that he initiated and implemented;
“I am excited about taking on this role at this particular time in company’s life,” said Mr. Estareja. “Brian and I had defined a strategy to grow the company through transformative acquisitions and alliances, adding revenues to our P&L and assets to our balance sheet. At the end of the day, we continue to pursue a path to try to increase shareholder value and after struggling to accomplish that goal through organic growth, I am confident that we now have a plan in place to succeed.”
“When I first acquired Wowio back in 2009, we had a clear plan to monetize the company’s intellectual property, including its patent for inserting ads in eBooks, as we believed we were on the cusp of a major industry changeover, moving from paper to digital publishing,”
Estareja noted that the Company intends to also pursue the exploitation of its library of creative content as well and Altounian will support those creative pursuits where appropriate.
In addition to its library of creative content, WOWIO holds a proprietary patent that allows for the insertion of advertising into eBooks, providing the digital publishing distribution channel as a viable alternative to that of other content distribution outlets. For further information and updates, follow WOWIO on social media and at http://www.studiowdigital.com.
About WOWIO, Inc.
WOWIO, Inc., (OTCBB: WWIO) is a digital media and technology development company that has built and acquired a number of digital media technologies, platforms and distribution outlets and is focusing its efforts on opportunities to create and monetize ancillary content product lines beyond eBooks and other forms of digital media. To learn more about WOWIO, please visit our corporate website at http://www.studiowdigital.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently;