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Function(x) to Acquire BumpClick

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FUNCTION(X), INC. (NASDAQ:FNCX), a leading social publishing and
interactive media platform, today announced the signing of a binding
term sheet to acquire all equity interests in BumpClick LLC ("BumpClick"
or the "Company").

BumpClick is a media company that uses technology and industry
relationships to maximize distribution and revenue from its network of
websites and social assets that total more than 60M social followers.

Last week BumpClick finalized the acquisition of all ViralNova assets,
including the flagship property www.viralnova.com.
Sean Beckner, the Founder and CEO of BumpClick, was the CEO and
controlling member of ViralNova, LLC prior to selling the company to
Zealot Networks in 2015. Also included in the sale is the proprietary
CMS and analytics and reporting software called "Nova" along with all
social assets. BumpClick is moving quickly to optimize and grow this
asset, with work already underway.

"The ViralNova transaction rounds out a very strong stable of
technology, social assets and websites that are both established and up
and coming," said Beckner.

Beckner will assume a senior management position applying his skills to
the existing FNCX properties, when BumpClick is acquired by FNCX.

"We are excited to acquire a rapidly growing digital platform,
especially one run by an experienced industry professional," said Robert
FX Sillerman, Executive Chairman and CEO of Function(x). "We believe
that the synergies between our two companies are substantial, and when
combined with Sean's expertise and experience, this acquisition will be
instantly accretive to our business. As indicated in the recently
completed public offering registration statement, strategic acquisitions
such as BumpClick are an integral part of our strategy. We are thrilled
to have come to agreement."

"The team and I are very excited to join forces with Bob and his team at
Function(x)," said Beckner. "Bob's many successes and deep understanding
of how to build and scale large enterprises is a big reason for our
excitement around this deal. The digital media landscape is filled with
opportunities to achieve significant scale by growing both organically
and through acquisition of leading digital properties and assets. We
believe we bring a strong track record for how to do this profitably and
at scale."

For complete details on the proposed transaction, please review the 8-K
filed simultaneously with this release.

About Function(x)

Function(x) operates Wetpaint.com and Rant. Wetpaint is the leading
online destination for entertainment news for millennial women, covering
the latest in television, music, and pop culture. Rant is a leading
digital publisher with original content in multiple different verticals,
most notably in sports, entertainment, and pets. Function(x), Inc. is
also the largest shareholder of DraftDay Gaming Group, which is
well-positioned to become a significant participant in the expanding
fantasy sports market, offering a high-quality daily fantasy sports
experience both directly to consumers and to businesses desiring turnkey
solutions to new revenue streams. Function(x), Inc. also owns Choose
Digital, a digital marketplace platform that allows companies to
incorporate digital content into existing rewards and loyalty programs
in support of marketing and sales initiatives. For more information,
visit www.functionxinc.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and as
defined in the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve inherent risks and
uncertainties that could cause actual results to differ materially from
those projected or anticipated. All information provided in this press
release is as of the date of this release. Except as required by law,
Function(x), Inc. undertakes no obligation to update or revise publicly
any forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements are
made or to reflect the occurrence of unanticipated events.

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