LEC Leasing Division of Golf/Sienna Widens Vision for DTV Leasing
SPRINGDALE, Ark., Aug. 9 /PRNewswire-FirstCall/ -- The LEC Leasing division of Golf Entertainment, Inc. dba Sienna Broadcasting (OTC Bulletin Board: GECC), is now exploring a wider leasing market opportunity in light of a recent FCC initiated rulemaking proceeding.
According to LEC Leasing's Michael Daniels, the division's original plans were premised in industry assessments that only about one-third of the nation's full-power broadcasters were not in compliance with a May 1, 2002 deadline to have a digital TV (DTV) signal on the air as of that date.
"We were floored," said Daniels, "when we read a copyrighted story in the July 2002 edition of Broadcast Engineering (www.broadcastengineering.com) entitled 'FCC to sanction DTV delinquents.'" According to the author of that story, Arlington Virginia lawyer Harry C. Martin, nearly two-thirds of the nations broadcasters affected by the FCC mandate failed to comply by the deadline date.
"We checked the story out and the end result is that our potential market is nearly double what we thought it was 4 months ago," Daniels said.
The FCC mandate for digital TV conversion has already seen several deadlines come and go. This time, according to the FCC rulemaking notice, the range of sanctions against broadcasters will be scaled from admonishments to rescission of the DTV license. Without a DTV license, the station owner will eventually lose all broadcasting privileges.
In other Golf/Sienna news, CEO Dr. Tim Brooker said the Company is conducting a final review of its 2nd quarter 10-Q and anticipates the filing will be made by the deadline of August 15 without an extension. "We believe this report will demonstrate positive results in the 2nd quarter, major debt retirement and forward progress in terms of accomplishing our core business plan," Brooker said.
The Company is also continuing joint due diligence with a proposed investor regarding funding its first phase of expansion. Brooker added, "We have to assure that our proposed funding plans will not in any way adversely affect either our intention to become a NASD BBX listed company nor the ability of the Company to hold FCC licenses."
About Golf Entertainment: Golf Entertainment/Sienna Broadcasting, Inc. is a commercial TV broadcaster and production service provider. We offer a broad range of creative, news, infomercial and other programming products for the rapidly growing Hispanic population in the United States.
SOURCE Golf Entertainment, Inc.
CONTACT: David Duncan of GECC-Sienna Broadcasting, +1-479-751-2300
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