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LONDON - capAI plc (LSE:CPAI) announced Thursday the incorporation of capMedia Inc, a wholly-owned US subsidiary in Delaware, as part of its strategic expansion into the United States media market.
The new entity will support capAI’s media division activities in the US, including the proposed deployment of Author42, a generative AI publishing platform, pending regulatory approvals and finalization of agreements.
The company plans to apply for an operational license in California, which would allow capMedia Inc to conduct business in the state. According to the press release, California was selected to access Silicon Valley’s innovation ecosystem, where capAI’s strategic partner R42 Group LLC is based.
Delaware was chosen for incorporation due to its established corporate governance framework, the company stated.
The subsidiary will serve as capAI’s principal US vehicle for media initiatives under its capMedia division. The company indicated it may seek additional operational licenses in other US states as needed.
Looking ahead, capAI outlined several anticipated developments, including updates on regulatory clearance for the license and option agreement related to Author42, execution of a definitive agreement pending clearance, and the commencement of capMedia Inc’s commercial operations in California.
This expansion reflects capAI’s strategy to combine "UK-listed capital discipline with US innovation" through its alliance with R42 Group, according to the press release statement.
Richard Edwards, Executive Chairman of capAI, was listed as responsible for the release of the announcement.
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