My pick today is PICK!...multimillion dollar contract...news just out...has not hit Yahoo wire yet...
PICK Sat Signs Its First Contract for Broadband Satellite Delivery Of Broadcast
Programming with Cadena
Latinamericana
Business Editors/Technology Writers
MIAMI--(BUSINESS WIRE)--July,12 1999--
-Cadena Latinamericana Uses PICK Sat's Broadband Satellite
Delivery Platform For Video File Distribution Service (VFDS)
to 100 Latin American Affiliates-
PICK Sat Inc., a subsidiary of PICK Communications Corp.
(OTC BB:PICK), today announced that it signed its first contract
to provide electronic broadband satellite delivery of video
programming.
The three-year $2.1 million contract with Cadena Latinamericana
(CLT) provides for video file distribution to CLT's more than 100
affiliates throughout Latin America.
"PICK Sat is enabling us to replace a cumbersome, expensive and
labor-intensive distribution mechanism with an easy-to-use,
cost-effective and reliable high-tech satellite delivery system," said
Jorge Tomassello, chief executive officer of CLT, a unit of Pacacon.
"Six months from now we're going to look back and wonder how we ever
operated without PICK Sat."
PICK Sat provides satellite-based broadband wireless Internet
services to cable network operators and Internet Service Providers in
the U.S. and Latin America, distance-learning and intra-enterprise
video communications for corporations, government agencies and
educational institutions, and transmission of very large multimedia
files to remote locations for corporations, software companies and
video production enterprises.
Cadena Latinamericana is a leading distributor of
Spanish-language video programming to cable and broadcast television
stations in Latin America.
"We are delighted to be working with Cadena Latinamericana to
provide a solution that successfully delivers both substantial cost
savings and gains in efficiency," said Mario Pino, president of PICK
Sat. "By using the PICK Sat platform, any large or small company can
deliver massive amounts of video, audio or digital data, and can do so
immediately and cost effectively."
CLT previously used courier services to send more than 20,000
Betacam cassettes a year to its affiliates. The company will now
distribute its programming as electronic files via PICK Sat's
broadband satellite delivery platform. Affiliate stations will receive
the files via satellite dish, store them on a server, and decode them
into Betacam format as needed for local playout.
PICK Sat, along with its technology partners, including
Microsoft, Philips, FORE Systems and Harmonic Data Systems has built
an open standard, satellite broadband delivery platform that offers
companies affordable and immediate satellite IP-based service.
PICK Communications Corp., headquartered in Wayne, N.J., operates
PICK Sat Inc., headquartered in Miami, Fla., which provides
satellite-based Internet access and interactive multimedia services to
end-user service providers, and PICK Online.Com Inc., a media-content
aggregator and satellite multicast delivery service for Internet
Service Providers (ISPs) and Broadband Networks, including Cable Modem
and Asynchronous Digital Service Line (ADSL) service providers.
For additional information on PICK Communications Corporation and
its subsidiaries, please see the company's Web sites: www.picksat.com;
www.pick-online.com and www.pickradio.com.
This press release contains 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 is
subject to the safe harbors created thereby. These statements are not
guarantees of future performance. The Company's actual future results
could differ materially from the forward-looking statements discussed
herein or implied by such forward-looking statements. The risks and
uncertainties associated with these statements include the Company's
and third parties' ability to perform under the CLT contract and
receive payments from CLT, the Company's immediate need for additional
funding, the repayment of substantial short-term indebtedness,
significant and continuing losses, dependence on a limited number of
clients, dependence on and obligations to third-party carriers,
dependence on the Internet, timely development and acceptance of new
products in the constantly evolving Internet industry, the impact of
competitive products and pricing, government regulations and the other
risk factors detailed from time to time in the Company's SEC reports.
The forward-looking statements contained in this press release speak
only as of the date hereof and the Company disclaims any obligation to
provide public updates, revisions or amendments to any forward-looking
statements made herein to reflect changes in the Company's
expectations or future events.
--30--brm/se*
CONTACT: The Dilenschneider Group
Reid Gearhart, 212/922-0900
or
PICK Sat
Mario Pino, 305/717-1500
KEYWORD: NEW JERSEY FLORIDA INTERNATIONAL LATIN AMERICA
INDUSTRY KEYWORD: TELECOMMUNICATIONS COMED
INTERACTIVE/MULTIMEDIA/INTERNET ENTERTAINMENT
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Jul-12-1999 10:33 GMT
Symbols:
US;PICK
Source BW Business Wire |
