more news on AXC
TV onthe Web Signs Deal with Melita Cable of Malta to Open European Operation, TV onthe Web-Europe'
Maltese Government Offers Incentive Package for Video and Web Production Facility. In Addition to Web Operations, Content Will Support Melita's State- Of-the-Art Broadband Interactive Video Effort
Live Webcast at www.tvontheweb.com, April 19, 11 A.M. PST to Discuss Details
RESTON, Va., April 16 /PRNewswire/ -- TV onthe Web, Inc., a strategic partner of Ampex Corporation, (Amex: AXC), announced today that it has signed an agreement with Melita Cable TV PLC, Malta's national cable company, to build a European video and Web production facility to be known as "TV onthe Web-Europe."
"This is a unique opportunity to be a pioneer in the future of interactive television and establish a production foothold in Europe for future narrowcast channels and live events on the Web," stated Dave Gardy, Chairman and Co-CEO of TV onthe Web. "This is the perfect model of the future of connectivity. The presence of the extensive bandwidth infrastructure that Melita offers in Malta will allow the distribution of higher quality full-screen video that could yield some huge potential applications."
"When fully implemented, Malta will be the first totally interactive digital country in Europe and perhaps the world," commented Frank Leiter, CEO of Melita Cable. "Malta also offers TV onthe Web-Europe's team varied geographical diversity and established resources for location production in addition to the most favorable weather conditions in Europe. TV onthe Web's presence in Europe will also facilitate a closer understanding of the cultures, to produce customized content for European Channels that will appeal to European demographics." Melita Cable is 50% owned by United Pan-European Communications, UPC, (Nasdaq: UPCOY), the largest non-government owned cable operator in Europe.
The facility will be utilized for a variety of video production, Web design, encoding and hosting functions to support TV onthe Web European-based narrowcast internet TV channels. It will also serve as the content provider for Melita Interactive, a unique broadband service that could herald a new era in on-demand, interactive and regional community-based television. Enabled by Melita Cable's high bandwidth "fiber to the curb" connectivity, the Melita Interactive service will serve as a veritable geographic "intranet" allowing subscribers to interact with the community-based TV onthe Web Europe video content on 20 Malta channels throughout the country. In addition, the facility will support conventional television and video production projects and serve as a production and Web training center for Maltese and European clients. Gardy also indicated that TV onthe Web-Europe intends to utilize Ampex digital storage equipment in the new facility.
The endeavor received the backing of the Maltese government through the country's Malta Development Corporation, which is offering an aggressive incentive package to facilitate the deal that includes low-interest financing, tax holiday, tariff waivers along with extensive training and infrastructure subsidies.
Mr. Leiter and Mr. Gardy will take part in a live video press conference Webcast to discuss this venture from TV onthe Web's exhibit on the floor of the National Association of Broadcaster's Convention on Monday, April 19, at 11 AM PST,at www.tvontheweb.com. This announcement comes on the heels of TV onthe Web's appointment of former Merv Griffin Productions executive Tim Swift as President and Co-CEO of TV onthe Web, Inc.
SOURCE TV onthe Web, Inc. |
