PAYFORVIEW.COM PURCHASES ASSETS FROM
BACCHUS ENTERTAINMENT / APPOINTS
990324 - PAYFORVIEW.COM INC.(PAYV) - RENO, NEVADA
Payforview.com Inc. ("Payforview") is pleased to announce that it
has entered into an agreement with BACCHUS ENTERTAINMENT LTD.
("Bacchus") to purchase rights to two feature films, together
with a 30% interest in an established Canadian production
company.
Bacchus has arranged financing on the two feature films through
presales, broadcast agreements, distribution agreements,
deferrals, and insurance bonds. As part of this purchase,
Payforview has acquired the rights to produce "THE QUEST FOR
SHADOW ISLAND", a family adventure about a young boy and girl who
go to battle against an evil wizard to protect the environment.
"THE QUEST" will be directed by STEVE BOYUM, who directed the
WALT DISNEY CO (NYSE: DIS) picture "MEET THE DEEDLES". "THE
QUEST" is fully developed, has over $750,000 attached in presale
agreements, and is being distributed by DREAM ENTERTAINMENT,
which is currently filming a picture with WHOOPIE GOLDBERG. Also
purchased are the rights to produce and distribute the film "GO",
a kung fu movie starring "DOUBLE HAPPINESS" star and Kung Fu
Grand Master STEPHEN CHANG. As well, the purchase includes the
rights to produce and distribute the show "DANCE '99 - MILLENIUM
COUNTDOWN", a live weekly production of dance parties held in
cities around the world, which is set to begin shooting in June,
1999.
Bacchus has acted as agent for Payforview in many of its recent
acquisitions, including the REEL MEDIA library, and has assisted
Payforview in developing and implementing its advertising and
programming plans. Payforview purchases back from Bacchus the
right to receive agency fees, and the rights to receive 5% of
Payforview's gross revenues from certain Payforview's
acquisitions.
Payforview also acquires from Bacchus a 30% interest in the
company PEACE FROG PRODUCTIONS INC. Included in Peace Frog's
production slate for 1999 is a series entitled "THE ZEE TEAM",
which has incurred over $300,000 in development expenses.
Expenditures to date include costs for shooting the series pilot,
and a 13 part documentary series dealing with secrets of the
Mediterranean, such as the Trojan War and Hercules, which is
being produced by TARA SHORT, award winning director/writer of
"STORM WARNINGS".
Payforview is pleased to announce the appointment of Penny Green,
previously President and CEO of Bacchus, to the executive team of
Payforview. Ms. Green is a lawyer with expertise in film
financing working at Lang Michener Lawrence & Shaw, a Canadian
national law firm, as a securities and entertainment lawyer.
"Ms. Green, through Bacchus Entertainment, has been instrumental
in helping Payforview position itself as a key player in the
entertainment industry. Also impressive are the assets she built
up as President and CEO for Bacchus," says Marc Pitcher,
President of Payforview, "Her background in sales, law and film
finance make her a welcome and complementary member to the
executive team at Payforview." Penny Green's responsibilities as
Vice President, Programming and Production commence immediately.
PAYFORVIEW.COM PROCEEDS WITH 3 FOR 2 FORWARD STOCK SPLIT
The Company confirms that the Board of Directors will be
proceeding with a 3 for 2 forward split of the common stock of
the Company. The Effective date for this forward split has been
set for shareholders of record on the close of business April 9,
1999. In order to receive three new common shares for every two
currently held, shareholders or their investment brokers will be
required to submit the old share certificates to the Company's
transfer Agent, Alexis Stock Transfer (phone:(760) 773-9227), for
conversion.
WALL STREET RESEARCH GROUP RECOMMENDS PAYFORVIEW A STRONG BUY
The WALL STREET RESEARCH GROUP, publishers of the "Wall Street
Research Report", listed payforview.com as a recommended buy. In
describing the strengths of payforview.com, Wall Street Research
Group pointed to strong content acquisition plans, highly
anticipated technology joint ventures and excellent
diversification through record and film sales as reasons to
believe payforview.com is poised for excellent growth.
Marc Pitcher, payforview.com President, who will be attending the
upcoming DIGITAL ENTERTAINMENT SUMMIT in New York on March 24,
1999, along side panelists from MICROSOFT (Nasdaq: MSFT) and the
World Wrestling Federation (WWF), says "The company is meeting
its targets and is building a solid base from which to become a
premier provider of filmed and audio entertainment on-line."
"We are pleased to be recognized for our growth to date, and for
the value we've been able to bring to our shareholders.
Recommendations like this (from Wall Street Research) help us to
further our goals and continue work towards becoming an Internet
broadcast industry leader".
Other Internet broadcast companies include BROADCAST.COM (Nasdaq:
BCST) and VISUAL DATA CORP. (Nasdaq: VDAT). To view the Wall
Street Research report, go to
wallstreetresearch.net, or call Toll
Free in the USA 1-888-615-1145 to request a written report, which
will be mailed to you.
Payforview.com is an Internet based Entertainment Company which
will distribute movies, music, sports and live events direct to
viewers on a pay-for-view and retail basis. The Company
is in the process of acquiring content and creating programming
and broadcasting specifically for the Internet. Payforview is in
the process of preparing other content to allow website visitors
to view sample broadcast clips, catalogue content, and go to
Payforview's various divisions within the website for movies,
live events, sports, education and business. Additionally,
Payforview.com intends to negotiate with other content providers
and distributors to acquire the Internet broadcast and DVD rights
to other video content.
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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