Vision Works Media Group, Inc. Completes Share Buyback & Retires Shares Per Previous Announcement
Monday January 30, 8:48 am ET
ORLANDO, Fla.--(BUSINESS WIRE)--Jan. 30, 2006--Vision Works Media Group, Inc. (Pink Sheets:VWKM - News) today announced that the company has retired to the treasury 120,000,000 common shares that were acquired per the company's previously announced buyback plan. The company will continue to purchase additional shares to bring the company's worth in line with the market capitalization.
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Mr. Astrom said, "I have strong confidence in VWKM and believe, given our current assets, film library & new contract to deliver New Screen Television via SES Americom's AMC-10 satellite. Our long-term goal of 50 million subscribing households is now possible."
New Screen Television is an independent film television channel that broadcasts digitally nationwide utilizing the "HD Prime" platform on the SES Americom AMC-10 satellite, and terrestrially in Florida over-the-air utilizing WRCF-TV Channel 29 Orlando. The channel exhibits films and videos from independent producers, directors, and artists from the U.S. and from around the world. New Screen TV is on the air and available 24 hours a day, 365 days a year.
New Screen TV joins the channels found on SES Americom's AMC-10 satellite, which (in unison with AMC-11) comprises "HD Prime - America's Cable Neighborhood." Other broadcasters utilizing the "HD Prime - America's Cable Neighborhood" platform include Discovery Communications, Scripps Networks, Viacom, E! Networks, A&E Television Networks, Hallmark Channel, Lifetime Entertainment, NBC, QVC and the Weather Channel.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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Contact:
Vision Works Media Group, Inc., Orlando
Naseem Shah, 407-346-6717
Fax: 407-843-5997
vswm.com
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Source: Vision Works Media Group, Inc. |
