Company Press Release
Wednesday October 15 10:49 AM EDT
biz.yahoo.com
FNet Teams With Netwaves to Give New Artists a Multimedia Platform
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Oct. 15, 1997-- Franklin Telecom(OTC:FTEL) Wednesday announced that its subsidiary, FNet Corp. has signed a contract with Netwaves to pioneer an innovative project utilizing the Internet to identify and promote new talent.
FNet will design and host a major Web server for Netwaves through which visitors to the Netwaves site can explore and discover the very latest artists.
The site features new artists from all genres of music and the arts, including actors, comedians, dancers, singers and writers. Visitors to the website can click on the photo of any artist about whom they are curious and hear a cut from their latest CD; view video clips or hear interviews with the artist. The visitor will then be able, via another click, to order the artist's merchandise directly from Netwaves.
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According to Frank Peters, president & CEO of FNet, ''Although Netwaves pioneered radio over the Internet from its inception, because of the technological demands of such a venture they were unable to deliver to a wide enough audience, until they added the engineering resources of FNet. Their research indicates that to service the volume of interactive traffic this site will generate, they need major bandwidth capability with fiber optic quality. An OC-3 is mandatory.
''Since FNet has all this in place, we're a natural to partner with Netwaves on this project. This will be a one-stop site which will showcase talent and display and sell their disks and related products.
In addition, we are investigating a procedure, using high-speed CD duplicators, which would allow the customer to put together their own CD by making selections from a variety of artists they like. Again, this would be as simple as pointing, clicking, and making a secure credit card purchase. A couple of days later, they'll have a completely personalized and unique CD.''
Peters continued, ''This is one example of the pattern of Added Value functions we have always envisioned for FNet. In fact we are already pursuing several other parallel ventures utilizing high density interactive Internet capacity as well as developing new media delivery systems to enhance the multimedia experience. We could even download entire feature-length motion pictures to our clients in the industry. With our central headquarters in the heart of the entertainment industry, this is a direction with many possibilities for us. Among these is Netwaves Entertainment World Mall(NEWMall) which can offer the consumer a broad array of media related services and merchandise, often customized to their specifications, via the Internet & FNet.''
The website is up and running now but will be replaced shortly by a completely revamped site which is being designed by Franklin's Malibu Internet Services division.
Elaborating further, Peters added, ''Netwaves, using an investment facility developed by Franklin last year will open an investment opportunity using a private placement subscription and qualification
which will be accessible on both Franklin's and Netwaves' Web page.''
Under the terms of the agreement with Netwaves, FNet will have 30% of the venture with Netwaves holding the remaining 70%.
The primary business of Franklin Telecom, founded in 1981, is the design and manufacturing of communications devices, high speed LAN, WAN, Telco and Satellite Systems and software. Franklin has an installed base of more than 100,000 nodes worldwide.
The primary business of FNet, Franklin's Internet division, is a national, full-service Internet Service Provider which focuses on corporate Internet Telephone and professional Internet usage.
The primary business of Netwaves is to promote new talent and deliver multimedia-rich content for the Web consumer. For the website go to netwaves.net .
For the latest up-to-minute information about Franklin's family of companies, visit the company's website at ftel.com . |
