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Monday February 1, 8:31 pm Eastern Time
Company Press Release
Payforview.com to Acquire Extensive 800 Film Library
TORONTO, Ontario--(ENTERTAINMENT WIRE)--Feb. 1, 1999--Payforview.com (''Payforview'') has signed a Letter of Intent with a private collector, Photographer James Hutchins based in Spokane, Washington to purchase an extensive 800 title motion picture library of well known and popular films.
Marc Pitcher, Payforview's President says that this acquisition deepens the company's commitment to content, and will provide future subscribers with an excellent selection of programming.
''The Company's goal is to give viewers the best viewing experience possible and to allow them to see what they want, when they want,'' says Pitcher. ''Through this agreement with Sun Holdings Corporation we expand our potential available titles to over 2200 films.''
The library consists of original print and negative copies of some of the greatest American films of all time, including the 1939 Orson Wells Classic, CITIZEN KANE, considered by many to be one of the greatest films ever made.
The library also includes well known Western, Horror, Action, Drama, and Comedy films including classics by W.C. FIELDS, ABBOTT & COSTELLO, THE TEN COMMANDMENTS, NIGHT OF THE LIVING DEAD, THE TRIAL OF BILLY JACK and many others.
In addition to pay-for-view Internet viewing, the company's film sales division will maximize the library's income potential by identifying top titles and merchandising opportunities through traditional film sales, foreign rights, Video Cassette, DVD and Special Edition Boxed sets sales. The Company will also be able to assign, in whole or in part, international distribution rights for portions of the library in various territories.
''We are evaluating the traditional film sales value of this library,'' says Pitcher. ''We are excited about the immediate income potential from these sales and know that Internet viewing demand for our films will be high. By ensuring that we maximize all of our asset potential, we believe we are providing our shareholders with the best possible value.''
Penny Green, Payforview's Sales and Acquisition Agent will be attending the BERLIN FILM FESTIVAL in February and THE AMERICAN FILM MARKET the following month to market the Company's titles and acquire Internet broadcast rights to other properties.
Payforview.com is an Internet based entertainment company which intends to distribute movies, music, live events and other filmed entertainment direct to viewers on a pay-for-view and retail basis. Additionally, payforview.com intends to negotiate with other content providers and distributors to acquire the Internet broadcast and DVD rights to other films and music.
ON BEHALF OF THE BOARD OF
payforview.com
Marc A. Pitcher
President
For Further Information, Contact: Corporate Communications for payforview.com Toll Free: 1-800-545-7214 Fax 604-688-9519 email: invest@payforview.com or web: payforview.com
Certain Information Included in This Communication (As Well as Information Included in Oral Statements or Other Written Statements Made or to be Made by Payforview.com) Contains Statements That are Forward-looking, Such as Statements Relating to the Future Anticipated Direction of the Internet Industry, Plans for Future Expansion, Various Business Development Activities, Planned Capital Expenditures, Future Funding Resources, Anticipated Sales Growth and Potential Contracts. These Forward Statements are Subject to a Number of Known and Unknown Risks and Uncertainties That Could Cause Actual Operations or Results to Differ Materially From Those Anticipated.
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Contact:
Corporate Communications for Payforview.com
800/545-7214
email: invest@payforview.com
web: payforview.com
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