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BigStar Entertainment Inc. and Athlete.com Inc. Monday unveiled plans to merge into Athlete TV, an interactive digital television platform that will focus on the development and production of local and national youth sports programming.

BigStar Monday signed a letter of intent to acquire 100 percent of Athlete.com's outstanding shares. Athlete.com is a privately-held youth sports information and instruction network.

Upon completion of the merger, BigStar shareholders will own 40 percent of Athlete TV, while Athlete.com will own 60 percent of the merged company. The merger is subject to a number of conditions including execution of a definitive purchase agreement and the contribution of at least $2 million in new equity financing before the closing.

The combined company will produce its programming for digital cable television, digital broadcast television, the Internet and emerging high-speed wireless communication and entertainment devices.

"This transaction takes advantage of the current convergence between digitally delivered entertainment media and the tremendous consumer interest in sports-related activities at all levels in the U.S.," said BigStar Chief Executive Officer David Friedensohn. "The new capital invested into this company, as well as the technologies and content previously developed by both companies, can launch a vigorous new digital media business. We believe in the strength and resilience of the U.S. economy, we believe in the American people's continued capacity to grow and support new businesses, and we believe in the ability of BigStar and Athlete to deliver quality technology and programming."

Upon closing of the transaction, Athlete.com will replace the present directors and officers of BigStar Entertainment with its own designees.