AFTC News Release
American Film Technologies, Inc. Partners With Rainbow Media Holding's
MetroChannels, to Provide Classic Feature Films and to Co-Develop Interactive
Content
American Film Technologies, Inc. Partners With Rainbow Media Holding's
MetroChannels, to Provide Classic Feature Films and to Co-Develop
Interactive Content
NEW YORK, Sep 14, 2000 /PRNewswire via COMTEX/ -- American Film Technologies,
Inc. (OTC Bulletin Board: AFTC and aftmedia.com), has signed a
feature film and content development agreement with MetroChannels.
MetroChannels, a unit of Cablevision System Corporation's (NYSE: CVC) Rainbow
Media Holdings, Inc., will work together with American Film Technologies on the
development of interactive content for use on digital set-top-boxes and other
distribution platforms.
"Metro is aggressively working on the development and distribution of
interactive and enhanced content for the digital set-top-box platform to provide
our customers with distinctive New York-centric programming," said Greg Moyer,
President of Regional Programming for Rainbow. "We are excited to be working
with American Film Technologies in creating and co-developing classic
interactive TV programming for use on all interactive distribution platforms,
beginning with digital set-top-boxes."
In announcing the agreement, Barry Sandrew, Ph.D., American Film's Founder,
said, "This agreement is a decisive move toward TV convergence and broadband
applications with a leading cable programmer. All of us at AFT are thrilled
about MetroChannels decision to utilize our high-quality patented technology for
restoring and modernizing classic entertainment content. We are excited about
creating interactive components for the digital set-top-box platform. Lem Davis,
our newly appointed CTO, and Michael Southard, our SVP and Creative Director,
will spearhead the development effort for AFT. This agreement marks the first of
several content deals that we are currently negotiating and signals the return
of AFT under its new and expanded business model."
Under the terms of the agreement, AFT will provide several films from its
current library of titles for development and distribution with MetroChannels.
This collaboration will result in MetroChannels/AFT co-branded television
interactive film products. AFT will cooperate with MetroChannels in identifying
additional content for exhibition that is appropriate for modernization using
AFT's advanced technology to restore, and/or add interactive components.
About American Film Technologies, Inc:
AFT's principal business has been the production of color versions of motion
pictures and television programs originally produced in black and white. Today,
the company intends to utilize its patented technology to restore, modernize and
preserve classic films and TV shows while building and distributing its own
irreplaceable library of proven content. This new content will provide a
platform for AFT to generate licensing fees, advertising and e-commerce revenue
from multiple sources, including cable, broadcast, DVD, VHS, DBS, direct
marketing, video clubs, the Internet and all emerging digital and broadband
distribution channels.
About Rainbow Media Holdings, Inc:
Rainbow Media Holdings, Inc., which is seventy-five percent owned by Cablevision
and twenty-five percent owned by NBC, is at the forefront of innovation in cable
programming. Rainbow manages American Movie Classics, Romance Classics, Bravo,
The Independent Film Channel, MuchMusic USA, Rainbow Sports, News 12 Networks
and MetroChannels as well as the Rainbow Advertising Sales Corporation and
Rainbow Network Communications. Rainbow holds a majority stake in Madison Square
Garden Properties, which includes the Madison Square Garden Arena complex, the
Knicks and the Rangers professional sports teams, the MSG television network,
Radio City Entertainment and a long-term lease on Radio City Music Hall. In
addition, Rainbow is a fifty-percent partner in Fox Sports Net.
About MetroChannels:
MetroChannels is the first and only suite of television networks devoted
entirely to the experience of living in the New York metropolitan area.
MetroChannels consist of METRO, Metro Learning, and Metro Traffic&Weather. Metro
includes original programming, live music and sports, classic New York TV series
and documentaries about the people, places and history of New York.
MetroLearning provides unfiltered coverage of events unfolding in the many
diverse communities throughout the region. Metro Traffic&Weather is the
Tri-state's first and only 24-hour local traffic, transit, and weather channel.
Since its 1998 launch, MetroChannels has received numerous accolades for its
programming, including the 1999 & 2000 Community Spirit Award, New York
Festivals Awards, Omni Awards and the Communicator Awards. In addition,
MetroChannels was among the top 10 networks nominated for the 1999 local New
York Emmy Awards.
Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for
forward-looking statements. Certain information included in this Press Release
(as well as information in oral statements or other written statements made or
to be made by American Film Technologies, Inc.) contain statements that are
forward-looking, such as statements relating to the future anticipated direction
of the company, plans for future expansion, various business development
activities, planned capital expenditures, future funding sources, anticipated
sales growth, and potential contracts and joint ventures. Such forward-looking
information involves important risks and uncertainties that could significantly
affect anticipated results in the future, and accordingly, such results may
differ from those expressed in any forward-looking statements made by or on
behalf of the Company. For more information about these and other risks and
uncertainties, see the SEC filings of American Film Technologies, Inc.
SOURCE American Film Technologies, Inc.
CONTACT: Joyce Brubaker, or Devon Blaine both of The Blaine Group, 310-
360-1499, fax, 310-360-1498, blaine@pacificnet.net for American Film
Technologies, Inc.; Michael Ruddick, 212-324-8551, MARUDICH@rainbow-media.com,
for MetroChannels
URL: aftmedia.com
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