Peacock Financial Joins Forces With Desert
Winds Entertainment to Form Digital Network
''DESTV.NET''
Business Wire - December 15, 1999 10:53
SAN JACINTO, Calif.--(BUSINESS WIRE)--Dec. 15, 1999--Peacock
Financial Corp. (OTCBB:PFCK) today announced that it has entered into an
agreement with Desert Winds Entertainment (OTCBB:DESW) to form a
Digital Entertainment division called DESERT DIGITAL NETWORK
(DESTV.NET).
The agreement calls for Peacock to finance the initial startup costs, through its
venture fund, in the form of convertible debt and to provide technical and
marketing assistance through Peacock's subsidiary, DotCom Ventures LLC.
Steve Peacock, president of Peacock Financial, stated: "This investment into
Desert Winds Entertainment represents our first step into the area of digital
broadcasting. Combining forces with a company that has current revenues,
existing content ready for broadcast over the Internet, and is already publicly
traded, Peacock's move into digital entertainment meets our investment criteria
and will create tremendous future opportunity."
"Digital television is clearly the wave of the future," stated Tasha Richardson,
vice president of entertainment for Desert Winds Entertainment. "By teaming
with Peacock Financial Corp., we have access to the funding necessary to
begin airing our existing content over the Internet and have the added value of
the technical and marketing assistance of DotCom Ventures LLC."
About Peacock Financial
Peacock Financial is a fully reporting investment holding company registered
with the Securities and Exchange Commission as a Business Development
Corporation under the Investment Company Act of 1940. Current holdings
include investments in real estate and in investment banking specializing in
professional sports and the Internet.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein that are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward-looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products and
other risks detailed from time to time in the company's filings with the
Securities and Exchange Commission.
CONTACT: Peacock Financial
Steven R. Peacock, 909/652-3885
Web site: www.peacockfinancial.com
or
Stock Enterprises
Jim Stock, 702/614-0003 (investor contact) |
