Capo Verde Capital Inc — a development-stage company — enters the streaming game with the announcement of the acquisition of Vyre Network — the black-owned streaming platform that delivers live shows, original content, films and music available on Apple TV, Roku, Amazon Fire Stick, Samsung TVs, iPhones, Androids and more — on Monday (Nov. 29), according to press release.
In the acquisition, Capo Verde Capital will acquire the entire VYRE Network entity, which includes, all Vyre content and channels, VYRE Live, VYRE Studios & Productions, VYRE’s Intellectual Property, all streaming licenses, any proprietary technology currently in use, and all existing contracts. Capo will issue 286,208,000 restricted common shares of the company in exchange for the outstanding shares of VYRE Network, press release reports.Capo and Vyre have agreed that details of this transaction will be finalized in a Definitive Agreement by December 10, 2021. And with the Definitive Agreement, Capo will apply for a name and symbol change to reflect the VYRE name.
Launched in 2019 by founders Lamar Seay and David Hill, Vyre Network’s content is categorized by 18 niche brands that range from movies, music and live/on-demand sports. Domestic brands such as Unnecessary Humor, Vyre Living, Vyre Fam, and soon-to-be-launched Just Faith TV and Vyre Business News Global. Music brands consist of True Magazine TV (Hip-Hop,) RnB Magazine TV, MGraceland TV (Pop/EDM,) and Relax TV. International-focused channels such as It’s Español (Spanish,) Vasool TV (Hindi) and soon-to-be-launched Vyre Africa, Vyre Asia, and Vyre Brazil will also be heavy with popular content for those particular regions. Vyre is available in more countries then streaming giants Netflix and Hulu.
Last September, Vyre inked a landmark deal with Women’s National Football Conference (WNFC) that marked the streaming service to carry the full package of women’s football games, exclusively. The historic deal with WNFC runs until 2026 and is valued at 1.5 million dollars. “This is a huge step in the right direction for not only women, but the sport of football, television, and equality as a whole,” says Seay on the new deal. “Soon, the pipeline from youth football to college, to a professional tackle career will be a clear path for women as it is for men.”
He continues: “I feel very blessed to be at this stage with this company that we started just a few years ago. Yet I also feel like it was written.”
For Seay and Hill, Vyre’s sole mission is to manage a global portfolio of award-winning content while bridging the gap between quality content creators and the worldwide distribution of their craft.
An acquisition price was not disclosed.