ACTV Names John Penney Executive Vice President of Enhanced Media Services Subsidiary
Former Scient and Viacom Executive Rounds Out Expanded Senior Management and Marketing Team
NEW YORK--(BUSINESS WIRE)--Dec. 11, 2000-- ACTV, Inc. (Nasdaq: IATV - news), a pioneer of interactive digital television (iTV) and enhanced media programming and services, today announced the appointment of John Penney as executive vice president of its Enhanced Media Services subsidiary.
He will also serve as president of Media Online Services, a unit of Enhanced Media Services. Penney will be based in New York and will report to Bruce Crowley, president of ACTV's Enhanced Media Services.
Penney was most recently a managing director at Scient with responsibilities for engagement management and strategy in Scient's Media & Entertainment business unit. In his new role, Penney will work to further exploit the enhanced media space by emphasizing opportunities made possible by ``The Wolzien Process,'' one of ACTV's core technologies. This will include areas such as Internet radio broadcasting, wireless data, streaming video and audio, and other enhanced media services delivered via PDAs, cellular phones, DVD, CD-ROM, VCRs and other technologies.
ACTV also announced today the appointment of Peter Cullen, a veteran of America Online and Disney/ABC, as executive vice president of Enhanced Media Services, overseeing new business development.
``John's relationships in the entertainment and media industries, creative thinking, depth of knowledge of the wireless world, and experience in growing businesses, will have important strategic significance for ACTV,'' said Bruce Crowley. ``The addition of John and Peter, along with Scott Doyle who joined us last month to oversee the management of our extensive IP portfolio, rounds out our senior management team and puts us in a strong position to maximize the value of our intellectual property and build greater value for our shareholders as we enter a new year.''
Penney's professional background encompasses more than ten years of media and entertainment finance and business development experience. At Scient, Penney consulted with leading media and entertainment firms on emerging technologies and developing innovative business-to-business and business-to-consumer eBusiness strategies.
``ACTV has spent many years establishing an incredibly strong portfolio of intellectual property, while simultaneously developing a technical expertise of enhanced media that is equally impressive,'' said Penney. ``We have an opportunity to play a leading role in transforming the way people access information, communicate, shop, entertain and educate themselves in an increasingly networked world. I believe that ACTV's combination of IP and know-how positions us very strongly and I'm eager to help the company successfully implement and expand its strategy for growth.''
Prior to joining Scient, Penney was a vice president in the corporate planning and development group of Viacom, where he was responsible for the formulation and implementation of domestic and international corporate business strategies, as well as working with Viacom divisions to plan and implement business unit level strategy. Before Viacom, Penney was an equity research analyst covering all aspects of the media and entertainment industry for Sanford C. Bernstein & Co., Inc., a preeminent provider of sell-side investment Research in New York City.
Mr. Penney holds a Master's Degree in Public Administration with a concentration in Science and Technology Policy from Columbia University in New York City. He also holds a Bachelor's Degree from Wesleyan University in Middletown, Connecticut.
About ACTV, Inc.
ACTV, Inc.'s (Nasdaq: IATV - news) patented enhanced media technologies are incorporated into the company's Enhanced Media Services, Inc. subsidiary. The enhanced media technologies are marketed under the brand names HyperTV® (http://www.hypertv.com) and Bottle Rocket® (http://www.bottlerocket.com), among other products and services. ACTV also created interactive, one-to-one digital television with its proprietary One To One TV(SM) software and programming capabilities. SpotOn(SM), the advertising application of One To One TV, is a service of ACTV subsidiary Digital ADCO, Inc (http://www.spoton.tv).
ACTV has developed an extensive patent portfolio that broadly covers the core methodologies for enhancing television, radio and other audio visual programming with an array of synchronous and non-synchronous Internet-based functions, and for the creation and delivery of interactive, one-to-one digital television.
Based in New York City, ACTV has key strategic relationships with many of the dominant players in the Internet, television and digital technology fields, including Liberty Digital, Inc. (Nasdaq: LDIG - news), Motorola (NYSE: MOT - news) Broadband Communications Sector, OpenTV (Nasdaq and AEX: OPTV), and Liberty Livewire Corporation (Nasdaq: LWIRA - news). For more information, visit actv.com.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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Contact:
For ACTV, Inc:
Bratskeir & Company, New York
Mike Rosen,(ACTV Media Relations), 212/679-2233, ext. 213
mrosen@bratskeir.com
or
Brainerd Communicators, New York
Kim Holt,(Financial Media), 212/986-6667
holt@braincomm.com
or
ACTV, Inc., New York
Ted O'Donnell, 212/217-1600
ir@actv.com"
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