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Monday May 3, 8:01 am Eastern Time
Company Press Release
SOURCE: Rentrak Corporation
Rentrak to Offer Paramount Home Video Products
PORTLAND, Ore., May 3 /PRNewswire/ -- Rentrak Corporation (Nasdaq: RENT - news) today announced that it has entered into an agreement with Paramount Home Video (PHV) to offer PHV's home video rental products to Rentrak's revenue-sharing customer base in the United States via its Pay-Per-Transaction (PPT®) system.
Under the terms of the agreement, Rentrak will immediately begin offering three PHV home video titles to the approximately 9,000 U.S. home video retail outlets it supplies with videocassettes on a revenue-sharing basis. The three titles Rentrak will immediately begin soliciting orders for are: ''A Simple Plan,'' ''Varsity Blues'' and ''Payback.''
Rentrak's Chairman and CEO, Ron Berger said, ''Paramount makes movies consumers love to rent. We are very excited to be offering their titles.''
''A Simple Plan,'' nominated for two Academy Awards, stars Billy Bob Thornton (Academy Award winner for ''Sling Blade'') and Bill Paxton (''Titanic''). The $16 million box office thriller will be available for rental on June 22. ''Varsity Blues,'' the $53 million box office hit starring James Van Der Beek from ''Dawson's Creek'' and Jon Voight (''Mission: Impossible''), arrives on video June 29. ''Payback'' stars Academy Award winner Mel Gibson in this action-packed story about double cross and revenge. ''Payback'' grossed $79 million in theatres and will be in video stores this August.
Rentrak Corporation through its PPT® system, is the world's largest distributor of pre-recorded videocassettes on a revenue-sharing basis throughout the U.S. and Canada and, through affiliated companies, to a growing number of international outlets in Japan and the United Kingdom.
Rentrak also provides Web site services for video retailers as well as consumers of videocassettes through its innovative Web site formovies.com. A Rentrak subsidiary, Blowout Video, Inc., sells videocassettes and discs through its Web site, blowoutvideo.com, and through five retail outlets. Another subsidiary, ComAlliance, Inc., provides order processing, inventory management, and fulfillment services to Internet retailers and wholesalers and to other businesses requiring just-in-time fulfillment. It can be accessed at comalliance.com. Rentrak's corporate Web site is rentrak.com.
Paramount Home Video is part of the operations of Paramount Pictures, a unit of Viacom, Inc.
When used in this discussion, the words ''anticipates,'' ''expects'' and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could affect the company's financial results include customer demand for videocassettes subject to company guarantees and Rentrak customers continuing to comply with the terms of their agreements. Additional factors that could affect the company's financial results are described in the company's March 31, 1998, annual report on Form 1O-K and the company's 10-Q for the quarter ended December 31, 1998, filed with the Securities and Exchange Commission. Results of operations in any past period should not be considered indicative of the results to be expected for future periods.
SOURCE: Rentrak Corporation
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