WNRG LIST stock news WorldNet Resource Group Acquires Majority Interest in EnterTech Media
Group
EL SEGUNDO, Calif.--(BUSINESS WIRE)--March 14, 2001--WorldNet Resource Group (OTCBB:WNRG - news) today announced that it has acquired 65
percent of EnterTech Media Group Inc., a fully reporting company on the NASD OTCBB that expects to be quoted and traded shortly under the symbol EMGI.
EnterTech is a high-technology feature film production and worldwide distribution company based in Los Angeles. EnterTech was founded by producer John Daly,
whose successes include his previous company's achieving 21 Oscars and unprecedented back-to-back ``Best Picture'' Awards for ``Platoon'' and ``The Last
Emperor.''
EnterTech has a vast library of films, along with an aggressive approach to acquiring more films for the new venture, which will be called IGo Media Inc.
IGo Media will be a unique entertainment aggregator for many different media platforms. WorldNet Resource Group's fully owned entities, Sprocket Music and
Sprocket Radio, will be folded into the new venture, which will be located at www.IGo.tv. IGo.tv will also operate IGoMedia.tv, IGoFilms.tv and IGoMusic.tv.
WorldNet Resource Group's UltraVu will handle the streaming for the site.
``This acquisition is an example of the continuation of our business plan,'' said Stephen Brown, president and CEO of WorldNet Resource Group. ``We're aligning
ourselves with companies with the potential to show immediate revenues and who share the same vision.''
``We're thrilled at the opportunity to become a part of the WNRG group of companies,'' said John Daly, chairman of EnterTech. ``The combination of our
entertainment expertise with their technology and vision, along with all the key personnel involved, assures us a perfect venue for our new entertainment venture.''
WorldNet Resource Group will disburse a portion of the acquired EnterTech shares to existing WNRG shareholders in order to create a shareholder base along
with rewarding the WNRG shareholders for their loyalty. This disbursement will go to all shareholders of record as of March 23, 2001.
About WorldNet Resource Group
WorldNet Resource Group (OTCBB:WNRG - news) is dedicated to developing and expanding business properties into the new age. Taking the traditional
business model and enhancing its development with the aid of new media technologies, WNRG creates a multifaceted presence both online and in traditional arenas.
Forward-looking statements and comments in this news release are made pursuant to safe harbor provisions of the Securities Exchange Act of 1934. Such
statements relating to, among other things, the prospects for the companies to complete the transaction and enhance operating results, are necessary subject to risks
and uncertainties, some of which are significant in scope and nature. These risks may be further discussed in periodic reports and registration statements to be filed
by the company from time to time with the Securities and Exchange Commission in the future.
Contact:
WorldNet Resource Group Inc.
David Bronte, 310/399-4059 Ext. 103
ir@wnrg.com
or
EnterTech Media Group Inc.
Mark Tolner, 310/414-1128
mtolner@entertechmedia.com |
