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5th Avenue Channel Corp. Launches its New Television Channel in Over 14 Million Homes With Simultaneous Streaming on the Internet
NORTH MIAMI, Fla., Mar 6, 2000 (BUSINESS WIRE) -- 5th Avenue Channel Corp. (Nasdaq: FAVE) today launched its new television network, NetVideoNetworks(TM) ("NVN"), in over 14 million national cable, broadcast and satellite homes. NVN's first program, Net Financial News, produced out of 5th Avenue's own studios in Miami began airing today at 10:00 A.M EST, featuring two hours of live programming, offering Wall Street coverage, global economic news, financial headlines, and in-depth reports.
6 The programming is being carried Monday through Friday to approximately 3 million homes on the Comcast CN8 system and to over 11 million additional homes across the country in an agreement with America's Voice, made up of cable, full signal broadcast, small dish Direct Broadcast Satellite (DBS) and C-band satellite homes. A list of the stations carrying the channel can be found on the Company's new homepage at NetVideoNetworks.com. The full website, which is currently in final beta testing, is expected to launch on March 13. However starting today, the live television broadcast is available in live streaming form on the website. The television channel and website have been designed together to take advantage of the information revolution being created by the international deployment of broadband delivery capability and the convergence of television and the Internet.
6 In charge of the Company's television division is industry veteran Ron Wishna, Executive Vice President of television for the 5th Avenue's Net Video Networks. He describes the Net Financial News (NFN) programming as "user-friendly, delivering useful financial news, analysis and insights in an accessible manner to the wide variety of people who are becoming pro-active in improving their financial well-being." Net Financial News with its staff of journalists, producers, editors, directors, on-screen talent and technicians use the full news gathering power of the Internet in conjunction with news feeds from Reuters, AP Newswire, ABC One and others.
"We will give people the news, but will also attempt to teach and guide them in order that they may make intelligent and informed investment decisions," said the four-time Emmy award winner. "Our convergent website will feature the full text of NFN reports, with further details, relevant links and more sources, as well as data and commentary from Zacks Investment Research offices in Chicago where we operate a fully digital studio for the generation and delivery of live analyst reports. Our television content will be available worldwide on the website in streamable, searchable form on-demand, using 5th Ave's NetVideoNetworks' custom proprietary netvideo player."
6 "This market niche is the leading edge in the exponentially expanding worldwide demand for broadband content and interactive television and is the path to true convergence," said Stuart Volkow, Vice President of Internet Business Development for Net Video Networks. "We are creating an ever expanding asset base for the company by producing new video content every day. We also have the opportunity for multiple revenue streams, from television advertising, international licensing of Company controlled content to other television channels and websites, cross-media advertising and sponsorship opportunities, and ongoing banner ad and streaming ad revenues."
6 "Whether in front of the TV or at the computer," continued Mr. Volkow, "our audience will be able to access important and useful video on demand, with links to relevant research, news, products and services, all delivered by NetVideoNetworks.com. NetVideoNetworks.com plans to offer additional net video channels utilizing the URL's reserved by NetVideoNetworks for niche net video channel rollouts such as NetVideoHealth.com, NetVideoCareers.com, NetVideoTravel.com, NetVideoShopping.com, and others.
6 The Company's programming carriage agreement for 11 million plus homes, reached with America's Voice, expands NVN's program distribution to twelve hours per day commencing on April 16. 5th Avenue Channel and America's Voice plan on working together to explore co-marketing opportunities, sharing program elements, and enabling NVN and America's Voice to effectively exploit their reach on Echostar's Dish Network(TM) Direct TV's Primestar(TM) system, C-band, and broadcast and cable carriage. In addition, the agreement will allow NVN the use of the America's Voice Washington, D.C. television studios and their extensive netcam system for newsgathering, which will supplement NVN's Hauppage Camera-based technology netcam system.
6 5th Avenue Channel Corp. (Nasdaq: FAVE) is creating and aggregating television and video content available through television and in streaming on-demand form on the Internet. The Company also operates wireless cablesystems in Wisconsin and Costa Rica and 5th Avenue Channel Retail, Inc. a business-to-business sales division that sells products to mass market retailers across the country.
This press release contains forward-looking statements. 5th Avenue Channel's actual results may differ materially from the results discussed, implied or forecasted in the forward-looking statements. Further information on the factors that could affect the actual results of 5th Avenue Channel Corp. are included in its Report on Form 10-K for the year ended December 31, 1998, which is on file with the Securities and Exchange Commission. 5th Avenue Channel Corp. assumes no obligation to revise or update any forward-looking statements contained in this press release.
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Copyright (C) 2000 Business Wire. All rights reserved.
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