Madison Technologies, Inc. Acquires Permits for Stations in San Juan, Boise and Bakersfield, CA.

NEW YORK, NY / ACCESSWIRE / December 14, 2021 / Madison Technologies, Inc., (OTCQB:MDEX) today announced the purchase of Construction Permits (CP's) in San Juan, PR, Boise, ID and Bakersfield, CA. The acquisitions allow for Madison to buildout television broadcast stations located in those cities. Upon completion, Madison will have finalized the requirements and be granted licenses to operate, adding to their existing portfolio as they continue their buildout of their broadcast platform as planned.

Madison's goal is to continue with it's acquisition strategy of building out a nationwide broadcast platform and finalize their nearly completed OTT streaming platform which is now in testing face. Upon completion, their stations will be geographically synced on their OTT platform allowing the consumer to view the station content for free both Over-the-Air (OTA) and Over-the-Top (OTT) in their respective DMA.

"We continue push forward with our plan of not only building out the broadcast platform but also exploring opportunities on the tech side and even on the content side to capitalize on the changing marketplace", said Philip Falcone, Founder, and CEO of Madison Technologies, Inc. "We think there is an opportunity to zero in on the younger generation that are not necessarily TV watchers today. To capture their attention though the content has to not only be unique but the delivery has to also change and we are doing our work feverishly on both". Falcone, who is not deterred by what he says was a planted, "hit job" with the recent press, continues to move aggressively forward. "People will write what they write and do what they do for their own selfish reasons but the best thing I can do is to continue to create shareholder value by thinking outside the box and building out our platform, which is what I will do", said Falcone.

Strong Tailwinds for OTA TV and Online Streaming

Consumers have embraced cutting the cord trend and moving to broadband (Netflix, Apple, Disney) and OTA (to continue to watch the basics). OTA households alone have doubled over the last 10 years to 20MM, becoming a material part of the addressable TV universe.

As cord-cutting continues to accelerate in conjunction with other factors (e.g., censorship) affecting distribution, the need for an alternative distribution platform will accelerate, ultimately driving higher rates and higher valuation all without even factoring in the true value of the spectrum.

The OTA market represents a compelling market opportunity. With an estimated 107MM TV households in the U.S., 57.9MM households use Cable, 28.7MM use alternative or satellite dish delivery systems while 20.4MM use OTA antennas - representing 44.8MM people. As any TV set purchase comes equipped by federal law to be OTA accessible, the adoption opportunities are massive if the right offer is presented to the market that is already growing weary of the recurring costs associated with content subscriptions.

An even bigger opportunity lies in the forthcoming advent of NextGen TV. In late 2017, the Federal Communications Commission (FCC) voted to allow broadcasters to use the Next Gen TV using the new ATSC 3.0 broadcast standard on a voluntary basis. This new OTA broadcast technology offers high definition, mobile video, 4K resolution video, interactive features like polling and voting as well as e-Commerce capabilities for TV-based shopping. Sovryn's plans include leveraging these innovations and others to bring a truly modern interactive experience to consumers for free.

About Madison Technologies

Press Contact

Investor Relations
Madison Technologies, Inc.
770-235-6053
info@go.tv

SOURCE: Madison Technologies, Inc.