PITTSBURGH, PA--(Marketwired - Jul 20, 2016) - FAB Universal (OTCBB: FABU) announced today that in order to further its
business plans in the future, the Board of Directors has agreed to complete the Spin-Off of its Liberated Syndication Inc.
(Libsyn) operations through a dividend to its current stockholders.
At the time of the Spin-Off, FAB will distribute all the outstanding shares of Common Stock held by it on a pro rata basis to
holders of FAB's common stock. Each share of FAB's common stock outstanding as of 5:00 P.M., New York City, on July 20, 2016, the
record date for the Spin-Off (the "Record Date"), will entitle the holder thereof to receive one share of Common Stock of
Liberated Syndication, Inc. The effective date of the Spin-off of Liberated Syndication Inc. is August 1, 2016 (the "Distribution
Date"). On or shortly after the Distribution Date, the whole shares of our Common Stock will be credited in book-entry accounts
for stockholders entitled to receive those shares in the Distribution.
About FAB Universal Corp.
FAB Universal Corp. is in the business of digital media entertainment sales and distribution through three business units:
Digital Media Services, Retail Media Sales and Wholesale Media Distribution. FAB is a publicly held Pittsburgh based company,
with thousands of shareholders and a world-class team. Visit us on the web at www.fabuniversal.com, email us at contact@fabuniversal.com.
Legal Notice
"Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in some of the
information or materials made available on this website. These statements relate to future events or our future financial
performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim
any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments
or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking
statements, including, but not limited to, risks associated with our change in business strategy towards more heavy reliance upon
on our new talent segment and wholesale channels, actions of regulators (either in the US or China) concerning our business
operations or trading markets for our securities, the extent to which we are able to develop new services and markets for our
services, our significant reliance on third parties to distribute our content, and the level of demand and market acceptance of
our services.