Rare Medium Inc. and ZDTV to Explore Broadband Internet Applications
DALLAS, Jan. 19 /PRNewswire/ -- Rare Medium Inc., the Web consulting services arm of Rare Medium Group Inc. (Nasdaq: RRRR), announced today it has signed an agreement with ZDTV to explore next-generation business, content and technology models for consumer broadband services. ZDTV is a 24-hour cable television channel and integrated Web site focused on computing, technology and the Internet.
ZDTV hired Rare Medium to participate in a research initiative to examine content, commerce, community, and productivity applications that will take advantage of high bandwidth consumer Internet access. The effort will begin by focusing on broadband PC and enhanced television implementations. The agreement will give Rare Medium and ZDTV access to valuable resources necessary to develop strategically sound intellectual property for broadband.
"ZDTV is committed to staying at the forefront of media convergence and this agreement will further our research and development goals," said John Gilles, senior producer for Broadband at ZDTV. "Rare Medium's expertise in designing and engineering superlative human interfaces for software and Web sites make it a great company for ZDTV to engage for an exploration of convergent media."
ZDTV uses technology such as chat rooms, e-mail and video mails sent from small digital Web cameras known as netcams to allow viewers to interact directly with its programming. It also pioneered "convergence advertising" models that combine real-time information from advertisers' Web sites with a live television broadcast. Available to consumers through more than 400 cable systems and through the satellite companies DirecTV and Echo Star, ZDTV is currently in 15 million U.S. homes.
About Rare Medium Group Inc.
Rare Medium Group Inc., through its wholly-owned subsidiary, Rare Medium Inc., www.raremedium.com, provides Internet solutions and E-commerce strategies that improve business processes, and develops branding strategies, marketing communications and interactive content to large and medium-sized companies in the financial, automotive, consumer service, retail, technology, entertainment and consumer goods industries. Clients include Microsoft, The New York Times, Merrill Lynch, Epson, Hotel Reservations Network and other leading companies. Rare Medium Group Inc. seeks to incubate paradigm-shifting ideas and build the next wave of blockbuster Internet companies by investing capital and leveraging its Internet development and solutions expertise. Rare Medium Group Inc. owns six incubator companies and has made 16 venture investments. The company is headquartered in New York City and with its subsidiaries employs more than 700 Internet professionals in 12 offices throughout the United States, Canada and abroad. More information about Rare Medium Group Inc. and companies currently in development is available at www.raremediumgroup.com.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Rare Medium Group Inc. and its subsidiaries' business and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Rare Medium Group Inc.'s limited operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms and those risks discussed in the company's filings with the SEC.
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SOURCE: Rare Medium Inc.
CONTACT: Patty Sullivan of Tractor Beam Inc., 214-747-5400, for Rare Medium Inc |
