mPhase Technologies, Inc. announced today that is forming a new media subsidiary, Granita Media, Inc, a Delaware corporation, that will provide targeted advertising to viewers of IPTV delivered by telephone service providers using mPhase’s TV+ middleware. Through the use of specific viewer demographics such as age, gender and defined consumer preferences, it is believed that a new form of broadcast television advertising could develop that is more powerful and focused than is currently being used by broadcasters. It is believed that targeted advertising software to be developed by Granita Media, Inc. will enhance mPhase’s TV+ middleware by offering a source of additional revenues for a telephone service provider deploying IPTV.