Next 1 Interactive Acquires Minority Interest in RealBiz Media (NXOI)

Next 1 Interactive Inc. (OTC: NXOI), a multi-faceted media company engaged in Travel and Real Estate, this week announced that it is acquiring a minority interest in RealBiz Media. RealBiz is the company�s real estate partner.�

NXOI and RealBiz agreed that it is in their best interest to turn operating loans into minority interests in RealBiz. The agreement further strengthens the two companies� relationship.�

RealBiz and Next 1 Interactive have been working together for over a year now to develop and roll out the Home Tour Network, Real Estate Video on Demand (VoD) Network. The real estate marketing technology platform brings together the power of the Internet and television and offers a single automated marketing solution for real estate professionals. The network has already been launched in San Diego, Los Angeles, Washington DC, Hartford and Providence. The network includes 1,100 residential home listings per city.

Home Tour Network has been designed to provide significant revenue from multiple sources including advertising, listing, imaging solutions and referral fees.�

Commenting on the agreement with Next 1 Interactive, Steve Marques, CEO of RealBiz Media, said this week that the company is encouraged by the foresight of NXOI who understands that to be successful in the near future a media company will need to deliver video assets with consumer centric content onto multiple media platforms.�

Marques said that RealBiz Media will take full advantage of the coming media convergence and is already positioned for success with its ability to efficiently produce and publish video assets to the web and television.�

Bill Kerby, CEO of Next 1 Interactive, said that after 18 months of working together, NXOI is pleased to strengthen its joint venture with RealBiz by way of ownership.�

Next 1 Interactive shares have been gaining momentum since! the com pany announced that it secured a minority interest in RealBiz. In today�s trading, the stock is up 20%, taking its gains in the last three trading sessions to nearly 58%.�