Washington - PopNetworks, a start-up that builds advertiser-supported TV networks placed at retail stores, malls and entertainment events, said on Tuesday that it has been acquired by California-based American Diversified Holdings Corp. (ADHC).

Financial terms of the deal were not disclosed.

Washington-based PopNetwork's debut network is Urban Life Television, which shows music and "urban reality" programming at Downtown Locker Room stores in D.C., Baltimore, Atlanta, Richmond and Norfolk.

The company plans to eventually expand the network to 500 locations in North America.

"This acquisition gives ADHC an extraordinary opportunity to access the urban retail audience, which will allow the company to add additional product to the PopNetworks franchise," said Ernest Remo, the chairman and CEO of ADHC.

In connection with the deal, American Diversified Holdings said that Thomas View, the current president of PopNetworks, also will become its president.

Related Links:
http://biz.yahoo.com/bw/071113/20071113005572.html?.v=1   

http://popnetworks.net