RAVE --- TCTV's NEW SYMBOL
biz.yahoo.com
Thursday March 25, 7:30 am Eastern Time
Company Press Release
TCTV Announces Symbol Change to FAVE, and Exclusive Television Broadcast Agreement With Zacks Investment Research
Also Announces Name Change to 5th Avenue Channel Corp.
MIAMI--(BUSINESS WIRE)--March 25, 1999--5th Avenue Channel Corp., formerly Tel-Com Wireless Cable TV Corp. (Nasdaq:TCTV - news), Thursday announced the signing of an exclusive television broadcast and information licensing agreement with Zacks Investment Research for the development of a new co-branded financial television channel.
The company also announced that it has changed its name to 5th Avenue Channel Corp. and its Nasdaq Small Cap market symbol to FAVE. These changes reflect the focus of the company towards the integrated use of the Internet and television to be a leader in providing high-quality information, products and services.
Zacks is a premier provider of investment research to institutional investors, individual investors, financial Web sites, and powers the Internet's most popular Web sites including Yahoo (Nasdaq:YHOO - news), Microsoft Investor, America Online (NYSE:AOL - news), GeoCities (Nasdaq:GCTY - news) and broadcast.com (Nasdaq:BCST - news).
Together, Zacks and 5th Avenue expect to provide a broad range of both subscription-based as well as free financial services and information. The 5th Avenue/Zacks television channel will integrate its marketing efforts and information with 5thAvenueChannel.com, the company's Web site, which has been redesigned with upgrades in appearance, content and functionality.
''We're very pleased with our partnership with 5th Avenue. It affords Zacks the potential to tap an entirely new market of consumers,'' said Andrew Ettinger, producer of Business Development with Zacks.
''5th Avenue Channel is poised to grow. We're excited about working together.''
''Our exclusive television broadcast agreement with Zacks Investment Research and the development of Fifth Avenue/Zacks Television will be broadcast through traditional television distribution systems and on 5th Avenue Channel's Web site using MCI/Worldcom's (Nasdaq:WCOM - news) UUCAST technology,'' said Mel Rosen, the company's president and CEO.
''This agreement with Zacks Investment Research is a significant milestone in the execution of our vision towards being a leader in the integrated use of the Internet and television to deliver products, services and information to our clientele.
''We feel that offering these kinds of high-quality integrated financial services will provide a direct revenue stream while delivering the perfect demographic for the ongoing marketing and sale of quality products and services by ourselves and our advertisers,'' Rosen continued.
''We are also offering to our customers a new section on our Web site devoted to personal achievement, success and wealth-building with books, audios and videos from over 100 top success and motivational speakers and writers.
''The name change to 5th Avenue Channel Corp. is symbolic of the foundation we have been laying for our corporate growth which recently has included newly signed agreements with our valued colleague and 5th Avenue Channel hostess, Ivana Trump; the upgrading and complete redesign of our Web site with expanded shopping selections; the successful conclusion of our business model test with XOOM.com (Nasdaq:XMCM - news) and the launching of our business-to-business e-commerce division; and our new agreement with Zacks Investment Research,'' he concluded.
The company has also begun the production of programming for the 5th Avenue Channel with Ivana Trump, the company's spokesperson, that will be incorporated into the channel's programming and will coordinate with products and services being offered on the company's Web site.
Statements included within this news release that are not historical in nature constitute forward-looking statements for the purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Investors are cautioned that this news release contains certain such forward-looking statements that involve substantial risks and uncertainties. When used, the words ''anticipate,'' ''believe,'' ''estimate,'' ''expect'' and similar expressions as they relate to the company or its management are intended to identify such forward-looking statements. The company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements. Further management discussion of risks and uncertainties can be found in the company's quarterly filing with the Securities Exchange Commission and other periodic filings.
Contact:
Tel-Com Wireless Cable TV Corp., Miami
(5th Avenue Channel Corp.)
Samuel H. Simkin, 305/947-3010
or
Coffin Communications Group, Sherman Oaks, Calif.
David Bronte, 818/789-0100 |
