American Interactive, Bid.Com Enter Joint Venture to Seize
Leadership Position in Next Generation 'Digital Shopping' Experience
NEW YORK, Jan. 19 /PRNewswire/ -- American Interactive Media, Inc. (OTC Bulletin Board: AIME - news) and Bid.Com, Inc. (TSE: BII - news) disclosed today a joint venture plan to create the next generation of shopping channel based on BID-COM's state-of-the-art online auction technology.
American Interactive Media is primarily a digital-oriented content and network developer aimed initially at the Internet, but with the ability to migrate its programming to cable, broadcast television and all other digital platforms.
Bid.Com, based in Toronto, offers an entertaining and cost effective method of selling a wide array of goods and services over electronic distribution channels. It has already established strategic alliances with AOL, Inc. and Rogers Media, Inc.
While neither the details nor the timing of the venture were disclosed, the intent of both parties was clear. For AIME, the venture will give it a sound footing in E-commerce with one of North America's more successful and technologically advanced online auction houses, adding a new dimension to its business.
For Bid-Com, the venture also has an important feature of business diversification, but in addition gives it creative and marketing capabilities that will enhance its product offerings.
Commenting on the vision, Mark Graff, president and chief executive officer of AIME said, for example, ''We envision celebrities hosting live auctions utilizing the two way or interactive capabilities of the next generation set top boxes. We will be creating the shopping channel of the future, where interactivity, viewer participation and 'fun' are added to the shopping experience.''
''In the near term we see mass market appeal in the declining price or Dutch auction game shows for television that will create excitement for this form of commerce and build the BID.COM brand name in over 90 million TV households just in the United States.''
Paul Godin, chairman and chief executive of BID.COM added that ''by licensing our technology beyond the Web, we are taking a major step in realizing our vision of multi-media exploitation of our technology.''
Neither executive would offer any financial dimensions in terms of scope of the venture other than to say that its impact would be ''significant'' on both companies.
American Interactive is dedicated to the creation of a wide range of programming and services incorporating video and audio information through an enhanced interactive environment designed specifically for the Internet, digital cable and other distribution platforms.
Its ''ComedyNet'' network (http://www.Comedynet.com), which features twenty- four hours of continuous live and video-on demand performances daily by performers from leading comedy clubs across the nation, had already been acclaimed a success by both its industry and the consumer markets.
With its entertainment industry partners, AIME is currently developing ''Crimebeat'' in association with Grosso-Jacobson Productions and
''Romanceland'' in association with Alan and Susan Wagner's Boardwalk Entertainment. In total, the development schedule calls for eleven
branded digital networks, all associated with proven producers and built with cross promotional and E-commerce opportunities in various media.
Mr. Graff explained that ''developing programming and networks initially on the Internet and then migrating them to other digital platforms, is significantly more cost efficient enabling us to develop much more programming with a predetermined pool of assets and offers a highly attractive rate of return.''
This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the Safe Harbor provisions of the U.S. federal securities laws. Forward-looking statements involve risks and uncertainties including successful development and implementation of technology, acceptance of the company's products and services, competitive factors, news products and technological changes, and other such risks as the company may identify and discuss from time to time. Accordingly, there is no certainty that the company's plans will be achieved.
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Anybody know how big / successful "bid.com" is? Is it like EBAY or UBID ?
John |
