Company Press Release
Players Network Announces Letter of Intent to Acquire Audio/Video Specialist The Big Picture Company
LAS VEGAS--(BUSINESS WIRE)--April 22, 1998--Players Network (OTC BB:PNTV - news), the first digital, 24-hour gaming and entertainment network which specializes in producing television programming to serve the rapidly growing gaming industry, announced today that it has signed a letter of intent to acquire The Big Picture Company, which specializes in large scale video display technology.
Closing of the transaction, which remains subject to certain contingencies, is expected to occur within the next several weeks.
Mark Bradley, the President of Players Network, commented, ''By acquiring The Big Picture Company, we are expanding Players Network product line from in-room broadcasting to a wide range of audio/video services including video displays throughout the casino floor. This is a totally unique service package we are providing the hotel/casino and convention industries.''
The Big Picture Company services the convention and trade-show industry, providing rentals and permanent installations of video wall technology. A list of clients includes, The White House, Coca-Cola (NYSE:KO - news), General Motors (NYSE:GM - news), Nike (NYSE:NKE - news), AT&T (NYSE:T - news), General Electric (NYSE:GE - news), McDonalds (NYSE:MCD - news), Hitachi (NYSE:HIT - news), Planet Hollywood (NYSE:PHL - news), Turner Home Entertainment, and Disney Channel.
In addition to integrating technologies, Players Network will provide full marketing support to expand The Big Picture Company's client base throughout the country. In Las Vegas alone, there were over 1,000 conventions last year.
Players Network provides in-room gaming programming for hotel casinos. Its programming is produced in their studios in Las Vegas, Nevada and distributed to client hotel casinos on a closed circuit basis with state of the art technology which was developed by SeaChange International (NASDAQ:SEAC - news).
The programming is designed to entertain and educate guests while acting as a marketing tool for the casino and advertisers. It educates guests on the various types of gaming available, how the casino games are played as well as sports and racing information, gaming news, entertainment, and promotions about the hotel casino and gaming facilities.
Future expansion plans include interactive television designed to further the in-room educational programming, cable syndication, pay-per-view, gaming instructional videos, and informational kiosks placed on the casino floor. The Big Picture Company will supply the monitors for Players Network's line of free standing information kiosks as well as permanent large-screen format displays.
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