Network Associate Summary:
Now that Nasdaq is officially applied for, and the Global Player will be commercially released in December, we may be seeing some newsworthy developments regarding associates.
Read these two (excerpts) press releases:
January 25, 1999
"Over 1300 radio stations and 37 independent television stations as well as hundreds of other already established web-based and bricks and mortar businesses have committed to the Network…Since announcing the Global Media Licensing Program on Dec. 14, 1998 we have received nearly 10 times that number (150) in formal applications, with dozens more arriving daily."
November 23 filing:
"As of October 25, 1999, we had 54 Network Associate agreements in place initially covering approximately 99 radio and TV stations and other Internet sites."
Notice a remarkable contrast between the January 25, 1999, news release when Global was just getting started, and the November 23 filing. I guess the key in the January 25 press release is that "committed" is later qualified by "formal applications". The key word in the SEC filing is "initially".
The contrast between what is legally acceptable wording for a BB board company promoting its product and it's share value, and a company legally seeking Nasdaq approval apparently represents two extremes. Companies filled "applications" in order to get more information about Global Media and the program, but nothing was binding. "Initially" probably suggests that certain contingencies have to be met before more associates "truly" commit. These might include the commercial release of the Global Player, a Nasdaq listing, e-commerce considerations, performance clauses, etc.
From the press releases in between (excerpts below), I am suggesting that, as at least 250 sites are under construction, some of these contingencies will soon be met. Only 5 of the alleged 22 radio groups have been discussed in news releases. These 5 groups represent as much as 234 radio stations. Onradio and Radiobroadcast.net, listed as "coming soon" at www.globalmediacorp.com, could end up being substantial associates/partners, and these deals haven't been discussed yet. The Standard deal isn't final yet, and therefore likely not one of the 54 Network Associate agreements already in place. Since January 25, Global has been to the NAB, I-World, and Comdex, and made great strides in completing their product. Thus, one can conclude that a great many broadcasting companies are aware of Global Media. Perhaps only a small percentage will ever become a part of the Global Media Network, and some of these associates may ultimately give us only a small percentage of their business, but I would anticipate that some significant news will be breaking soon with the completion of Global Player, or perhaps a Nasdaq listing.
Other press releases regarding associates:
August 4
"…has signed an agreement to join the Global Media Broadcast Network. Pacific Empire Communications Corporation, a new and growing radio group which presently operates five stations in three markets."
" Global Media has signed an exclusive agreement with Triangle Broadcasting Company Inc….which produces programming for KBRO, Seattle, and KNTB, Tacoma, is adding the ABC Contemporary Network and four outstanding ABC radio talk shows to the schedule of Triangle radio stations in the Puget Sound area. ABC is owned by The Walt Disney Co.
August 5
Global Media announced today that it has signed an exclusive agreement with Starcast Systems…is the owner of three radio stations: WQZK-FM; WKLP-AM (Cumberland Maryland market); and WBHN-AM (Bryson City, North Carolina).
August 25:
"…signed an exclusive e-commerce agreement with Marathon…owns or has under contract almost 100 radio stations throughout the upper mid-west and western parts of the U.S. This partnership involves Marathon radio station websites in selected markets, and will extend to all Marathon sites in the near future."
August 31:
"…the Network was unveiled today with 25 radio stations and associate sites online. The Network is expanding quickly with an additional 225 stations and associate sites currently in development."
September 8:
"…Global Media announced today that the company has added another 22 Radio groups to its growing Internet E-Commerce Network."
Sept. 13:
"MCB Investments has joined the Global Media Entertainment Network"
October 13:
"The term sheet calls for Global Media to provide both its streaming and e-commerce solutions to all radio stations owned by Standard Radio currently and during the next three years."
…"A subsidiary of Standard Broadcasting Corporation Limited, Standard Radio owns and operates twelve radio stations in major markets across Canada."
"In partnership with Telemedia, Standard Radio also operates a radio sales division that represents 108 English and French language stations in Canada." |
