Intertainment Media To Acquire DealFrenzy.com

NEW YORK, NEW YORK and LOS ANGELES, CALIFORNIA and SAN MATEO, CALIFORNIA and TORONTO, ONTARIO--(Marketwire - 06/06/11) - Intertainment Media Inc.(OTCQX: ITMTF)(Frankfurt:I4T - News) announces that it has signed an initial agreement to purchase DealFrenzy.com, creating a straightway generation Groupon-like revenue platform. Intertainment will acquire all the turn-key assets of DealFrenzy.com including the backbone research, deal pipeline, including preferred deals with major brands and an experienced sales and support team. The acquisition combines cash and Intertainment Media common stock with $500,000 in cash and $200,000 in Intertainment common stock at $1 CDN per common share and is subject to regulatory and board approval. The acquisition is expected to close by late June 2011.

"The simple promise of helping local merchants find new clients who are ready to jump at a bargain could broaden the reach of e-commerce and open up a trillion-dollar marketplace," according to Brian Jackson, senior writer at itbusiness.ca. In 2011, the US Group Buying market alone is expected to grow to $2.66 Billion wrote Social Media Today.

In addition to consumer deals, DealFrenzy will be offering small and medium sized businesses access to commercial products and services furthermore defining the group buying market.

"We are very excited to be integrating with Intertainment Media," said Alon Amouyal, President of DealFrenzy.com "Intertainment has the expertise, resources and unparalleled differentiators, like Ortsbo, KNCTR and Ad Taffy that will allow DealFrenzy to quickly increase its presence to the market, create unequalled cultural offers and significantly enhance revenue opportunities."

DealFrenzy's then generation Groupon-like model will employ the social media tools of VoIP (Voice over Internet Protocol) communications and real time multiple language research developed by Intertainment. Integrating its client communications systems with Intertainment's Ortsbo, real time experiential translation platform, allows offers to be communicated in over 50 languages, bringing a multi-lingual resonance to the group- buying market. DealFrenzy believes that this will provide a disruption event within the market and furthermore define DealFrenzy's unparalleled value proposition.

Intertainment's KNCTR platform will provide registered DealFrenzy members with FREE voice communications and other social media tools providing members with ability to become furthermore engaged in the group-buying process.

DealFrenzy enhanced group-buying platform at the same time with Intertainment's Ad Taffy platform will provide registered members location based services and offerings through permission based multi-lingual communications and open up the ability to interact with emerging consumer markets and demographics within North America and globally.

"The acquisition of DealFrenzy is part of Intertainment's merger and acquisition strategy for strategic investment and acquisition of immediate and nearly-term revenue programs that fit into Intertainment's existing suite of services and innovation," said David Lucatch, CEO Intertainment Media "With the integration of Intertainment's programs into DealFrenzy, we have effectively taken the group-buying, revenue rich platform, and enhanced it to make it not just socially engaging, nevertheless also to make it available to all cultural markets with no impediment of language communications."

Connecting people with brands, Intertainment Media Inc. is a Rich Media Applications leader, focused on delivering leading edge innovation and marketing solutions enabling customers to power enhanced branding, loyalty initiatives and consumer engagement.

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