did you see this? is it just a hype press release?
biz.yahoo.com
Tuesday November 24, 8:52 am Eastern Time
Company Press Release
SOURCE: Source Media
Interactive Channel Introduces LocalSource(TM): Highly Localized Internet Content Integrated With Neighborhood Digital Cable TV Programming
Cable TV's First Cross-Media Platform Delivers Cable-Centric Marketing Sales Package
DALLAS, Nov. 24 /PRNewswire/ -- Early next year, digital cable television subscribers of Insight Communications cable systems in Rockford, Illinois and Columbus, Ohio will be the nation's first viewers to obtain instantaneous 24 hour-a-day access, to LocalSource™ television, a comprehensive, city and neighborhood-specific interactive information service from Source Media's (Nasdaq: SRCM - news) Interactive Channel.
LocalSource™ television provides yellow and white pages directories, sponsored local news, sports, timely weather, health tips from local and national experts, entertainment guides, community event calendars, school information, dining guides, real estate listings, legal and financial reports, e-commerce opportunities linked to participating advertisers and information sponsors and much more.
The digital cable introduction of LocalSource™ television will enable the Interactive Channel and cable operators to offer another cable industry first, the creation of a bundle of localized, television-centric marketing opportunities that creates new, revenue generating opportunities for the cable industry and numerous value added benefits for advertisers. In essence, Interactive Channel and Source Media's IT Network will work in partnership with cable operators to sell cross-branded advertising packages that feature sponsored interactive content delivered via the LocalSource™ television service. Advertiser inclusion in system- specific monthly program guides and information from system-branded LocalSource™ Internet community sites in addition to local 30 second television spots drawn from unsold system inventory will also be key elements of the LocalSource™ service.
A Proven Business Model
The introduction of LocalSource™ television via Interactive Channel and digital cable television builds upon a proven business model that is based on Source Media's ten years of experience and relationships forged with local newspapers and yellow page directories serving over 100 million households and businesses nationwide. Covering more than 250 markets, including the nation's top ninety media markets, Source Media currently has ongoing relationships with more than 500 yellow page directories, almost 300 local newspapers and 200 radio and television stations. LocalSource™ television also provides cable operators with the ability to offer community specific, interactive content that will be cross-promoted by corresponding content on the Internet, print, telephone audiotex and video.
As part of the LocalSource™ cross platform product development, Source Media plans to introduce LocalSource™ Internet in 200 markets nationally, including Rockford, Illinois and Columbus, Ohio early next year, further enhancing the growing relationship between cable operators and the Internet.
Cable Operator Competitive Benefits Abound
The Interactive Channel's LocalSource™ television further enhances cable's local competitive positioning against satellite and telecom providers, by creating a distinct localized look and feel for each individual system it resides on, presenting the ultimate opportunity for system branding and the ultimate localizer.
''With the introduction of LocalSource™ television, we believe that we are dramatically enhancing the value of digital television and providing an additional value and importance that is unrivaled.'' said Tom Oliver, Interactive Channel President. ''Our experience and research have told us that cable operators deploying digital services will greatly benefit from a branded, carefully crafted bundle of interactive services in order to gain widespread acceptance of their digital offerings, to maximize their investment, and grow their business. By launching the Interactive Channel with LocalSource™, operators have an attractive customer and advertiser acquisition tool, a new revenue stream based on the introduction of addressable advertising and an important subscriber retention vehicle.''
Getting Personal Through Choice, Convenience & Control
''It's not enough to simply provide information to cable customers without making it useful and consequently valuable. LocalSource™ Television enables users to find what they are personally looking for, when they want it, right in the convenience of their own neighborhood. For example, when someone wants to purchase a new camera, they can do their research on national brands available, then identify the hometown outlets where they can purchase it conveniently; all via their cable system and all via LocalSource™ noted Wendy Borow-Johnson of the Interactive Channel.
Source Media is a leader in the development and introduction of localized new media content, advertising and technology. Source Media's IT Network provides new media content and advertising services via newspapers and Yellow Pages directories. The Interactive Channel is an interactive cable TV programming service that delivers a suite of applications designed for today's digital cable TV programming tiers. Drawn in part by content from Source Media's IT network, The Interactive Channel packaged LocalSource™ television information service aggregates thousands of timely useful bits of local information on proprietary server-based delivery technology. The intellectual property, software, and patents behind the company's interactive cable TV technology, which includes Internet on TV are developed and marketed under the name VirtualModem™.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements that are not historical facts, including statements about confidence and strategies and plans and expectations about new and existing products, services, technologies and opportunities, industry growth, demand, and acceptance of new and existing products, and returns on investments in products and markets are forward-looking statements that involve risks and uncertainties that could significantly impact Source Media. Among the factors that could cause actual results to differ materially from the Company's expectations are its ability to secure distribution for the Interactive Channel; delays in the deployment of digital set-top boxes; failure to make available advanced analog or digital set-top boxes incorporating the Company's technology; ability to successfully integrate, retain and grow the acquired customer base into existing operations; general economic and business conditions; industry trends; competition; equipment costs and availability; terms and deployment of capital; availability of qualified personnel; changes in or the failure to comply with government regulation; and other factors discussed from time to time in the Company's Annual Report on Form 10K and other Securities and Exchange Commission filings.
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