(COMTEX) B: Sitestar Partners with Cable Provider to Offer Broadband
B: Sitestar Partners with Cable Provider to Offer Broadband
MARTINSVILLE, Va., Nov 10, 2000 (BUSINESS WIRE) -- Sitestar.net Inc., the ISP
division and wholly-owned subsidiary of Sitestar Corp. (OTCBB: SYTE), has
announced today it has partnered with Chatmoss Cablevision, a Virginia-based
regional cable operator, to offer broadband Internet services.
Chatmoss Cablevision has built a thriving cable TV business, focusing on niche
markets beyond the reach of the majors.
"Sitestar is well-respected in our neck of the woods," said Charles F. Lewis,
Secretary Treasurer and Manager of Chatmoss Cablevision. "Chatmoss Cablevision
has been a Sitestar customer for networking services for years. It is only
natural for us to choose them to be our exclusive cable Internet service
provider. I am happy to be working with the folks in Martinsville, whom I have
known and been friends with for more than twenty years."
Chatmoss Cablevision has a state-of-the-art cable network, engineered to support
full duplex (or 2-way) digital services such as Sitestar's broadband Internet
service. That means there is no need for a dialup modem connection at the
customer's end -- only a cable modem is required. This service is currently
available only to Chatmoss Cablevision subscribers; however, Sitestar is
actively seeking other partnerships in more areas. Chatmoss Cablevision has
3,400 cable subscribers.
"We are delighted to be working with Chatmoss Cablevision in this endeavor,"
said Joseph M. Albanese, Executive Vice President and Director of Sitestar's ISP
division. "This expansion allows us to deliver broadband Internet services to an
entirely new market, in an entirely new way. We expect substantial revenue from
this relationship since the revenue per subscriber is expected to be nearly
triple that of our ordinary dial up subscriber. Our cable Internet subscribers
will enjoy speeds ten times faster than the fastest dialup modems. Very few ISPs
are able to offer DSL or cable, much less both. Strategically, we could not be
better positioned," Albanese added.
About Sitestar Corp.
Sitestar Corp. is a diversified Internet holding company that participates,
through its wholly owned Web-based subsidiaries, in emerging segments of the
Internet, such as Internet access and e-commerce. To sustain its growth, the
company acquires and invests in emerging Internet-related enterprises to create
a broad and diverse set of core Internet businesses that deliver a variety of
online solutions.
Sitestar's wholly owned subsidiaries include NEOCOM Microspecialists,
Sitestar.net, Soccersite.com, Greattools.com and Holland-American.com and has a
minority equity investment in Qliq-On Corp. Sitestar corporate headquarters are
located at 16133 Ventura Blvd., Suite 635, Encino, Calif. 91436, telephone
818/981-4519 and facsimile 818/981-2658. Additional information is available on
the company's Web site at sitestar.com.
Statements regarding financial matters in this news release other than
historical facts are "forward-looking statements," within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and as that term is defined in the Private Securities Litigation Reform
Act of 1995. The company intends that such statements about the company's future
expectations, including future revenues and earnings, the anticipated stock
dividends and all other forward-looking statements, be subject to the safe
harbors created thereby. Since these statements (future operational results and
sales) involve risks and uncertainties and are subject to change at any time,
the company's actual results may differ materially from expected results.
CONTACT: Sitestar.net Inc., Martinsville, Va.
Joseph M. Albanese, 540/666-9533
joe@sitestar.net
or
Sitestar Corp., Encino, Calif.
Clinton J. Sallee, 818/981-4519
csallee@sitestar.com |
