Move Networks intends to retain a financial advisor to assist the Company in evaluating strategic alternatives, including a possible sale of the Company. No timetable has been set for completion of the review and there can be no assurance that any transaction will occur. During this process, Move remains committed to supporting its IPTV customers in the U.S., Europe and the Middle East.

Move’s streaming technology is based on its proprietary adaptive bit-rate technology, whereby large video files are broken up into many small files called streamlets, which are then delivered as a series of video segments using a highly efficient transmission protocol. The Company also owns Inuk Network’s leading end-to-end IPTV service. Over the last year, Move has combined the best of its streaming technology with Inuk to yield a comprehensive subscription service that couples live, multi-channel television, full PVR in the cloud capability and the mobility, functionality, and interactive features of the Internet to provide a rich multimedia experience for consumers on their television, personal computer, and mobile device.

Move also announced that Roxanne Austin will step down as President and Chief Executive Officer, following a brief transition period, and that Marcus Liassides, Executive Vice President of Sales and Business Development, will be promoted to President and will oversee the Company’s day-to-day operations.

As Move evaluates its strategic alternatives, the Company will focus its operations on maintaining the existing MSO platform and continuing to serve existing customers and potential new partners. In order to conserve cash on hand during this evaluation process, Move announced a reduction of its workforce.