OFF TOPIC, Another ALFN-like stock??? MSHE news out...
I am in, anyone else???
(PR NEWSWIRE) MSH Entertainment Set to Launch Internet Site To Enter $1 Bi
MSH Entertainment Set to Launch Internet Site To Enter $1 Billion Children's
Market
NEW YORK, Feb. 24 /PRNewswire/ -- MSH Entertainment Corp.
(OTC Bulletin Board: MSHE) announced today that it has launched its own
Internet company targeted at the $1 billion children's marketplace.
Called JustKids.com, MSH indicated that it expected to be online by the
second half of 1999 and will operate out of Sausalito, California.
Commenting on the development, Robert Maerz, chairman of the
family-oriented, multi-platform entertainment company stated that "with the
acquisition of Abrams/Gentile Entertainment under our feet, we are now in a
position to move aggressively to tap this huge and growing market."
Abrams/Gentile is one of the nation's foremost developers of toys and
animated programming for children.
Aiming to capitalize on the advantages of "vertical integration" of
entertainment, marketing, communications and technology, Jonathan Stathakis,
president and chief operating officer of MSH explained that "we decided that
we needed to have our own internet company as a major component of the Company
if we were to fully capitalize on our strengths in family entertainment and
merchandising.
"We are well along in the development and packaging of a number of toys
and children's merchandise which are being readied for what we expect will be
the leading children's shopping mall on the web."
JustKids.com will be headed by Bob Heyman, an Internet marketing pioneer
and web site developer and the founder of Cybernautics, which was acquired by
U.S. Web Inc. in 1997.
At the outset, JustKids.com will focus on aggregating content -- rich web
sites into an interactive network created with an eye toward convergence with
television and the Internet. The activities of the new operation will include
the merchandising of educational interactive toys and related products
carefully developed in-house.
These products will be both stand alone products as well as spin-offs
related to other projects and programming.
Mr. Heyman noted that "there are an estimated 9.8 million children today
using the net and that number will probably triple over the next four or five
years.
"Importantly, in the children's marketplace, no dominant 'category killer'
player has emerged similar to Amazon.com in the book sector."
MSH will begin acquiring web sites developed by others as well as sites
custom built by and for MSH. These sites will be commercially scaled with the
addition of network wide advertising sales and the utilization of branded
content and characters.
With its acquisition of AGE, MSH now has a library of over 150 hours of
quality children's animation programming. Mr. Heyman noted further that "we
believe that a dynamic future opportunity of the Net will be the delivery of
cartoons on demand."
As a wholly owned MSH subsidiary, Mr. Maerz explained that "JustKids.com's
business activities will include development and ownership rights associated
with its activities, including toys, books, book publishing, home video,
CD-ROM, motion picture and television animation.
"We are also actively seeking joint venture partners, acquisition rights
to programming, development, packaging and co-production projects that will,
in turn be licensed directly to broadcast networks and the net.
"The goal of these endeavors is to build a library of diverse multi-media
properties in which MSH will either own or have a substantial equity interest.
This news release includes certain statements that may be considered
forward looking under the Private Securities Litigation Reform Act of 1995.
These statements are subject to a number of important risks and uncertainties
that could cause the contemplated transactions not to occur.
SOURCE MSH Entertainment Corp.
-0- 02/24/99
/CONTACT: Robert Frost, President of ECOM Consultants, 212-391-9475, for
MSH/
(MSHE)
CO: MSH Entertainment Corp.
ST: New York
IN: MLM ENT
SU: PDT
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