Video News Wire (www.videonewswire.com)
In May 1998, we formed Video News Wire Corp., a Florida corporation ("Video News Wire") and signed a joint venture with PR Newswire, Inc. ("PRNewswire"), the world's leading electronic distributor of corporate news releases. Our wholly-owned subsidiary creates and distributes "TV-news-like" video press releases via the Internet. Using our worldwide camera crew network,b Video News Wire also produces "About The Company" presentations and provides
coverage of corporate events. Revenues are generated through the production and storage of basic and enhanced versions of video press releases, video corporate profiles and video footage of events.
Video News Wire was officially launched in August 1998. Existing clients include Chrysler Corporation, Delta Airlines, McDonald's Corporation, Real Networks, Seagate Technologies, Subway Sandwiches and Salads, United News and Media, and Warner Brothers.
Video News Wire and PR Newswire have a mutually exclusive agreement covering the production and global marketing of Video News Wire's products. PR Newswire has been transmitting full-text corporate news releases for more than four decades and is the preferred method of disclosure by public companies. Headquartered in New York, PR Newswire has approximately 130 salespeople and 27 bureaus nationwide as well as an office in London, handling approximately 300,000 press releases for approximately 33,000 business clients annually. We
estimate that two-thirds of these press releases are applicable to the Video News Wire service. |
