Entertainment Direct.TV Inc. announced that it has ponied up a 30 percent
equity stake in Merit Studios Inc. and its 'wormhole' file-compression
The software compresses and encrypts audio-visual files such as movies, and
it is aimed at markets ranging from entertainment to medical fields.
EDTV -- which is positioning itself as a new-media direct-marketing company
-- is in the process of a reverse merger with bankrupt Broadband Wireless
International Corp. that will eventually give it majority interest in the
It has offered Merit stockholders shares in its own company as part of the
equity investment, which closed June 24.