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May 05, 1999 09:45
Genesis Media Group, Inc. Signs Letter of Intent with
World Film Marketing, LLC.
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LOS ANGELES, May 5 /PRNewswire/ -- Genesis Media Group, Inc., (OTC Bulletin
Board: GNNX) has entered into a Letter of Intent with World Film Marketing, LLC.,
for the purpose of structuring a merger/acquisition agreement between the two
companies.
World Film Marketing (WFM), worldfilmmarket.com, is engaged in the
business of delivering motion pictures and video programming to consumers over
the Internet. Currently, WFM has access and licenses to over 20,000 feature films
and vintage television programs. Movie and video content will be expanded with the
addition of Genesis's library and other sources. Currently the method of distribution
is shipping actual videotapes to customers who have ordered product over the
Internet. In the near future, customers will be able to order videos and "download"
them into their homes for viewing, in digital surround sound and digital quality. This
will be a new capability of Internet information transfer.
To accomplish this, WFM has established a strategic alliance with a converging
media technology company specializing in digital video protocols. This alliance
gives WFM the required hardware and software to achieve the video download into
the customers home. The other crucial element in achieving this streaming video
download is an extremely fast, high bandwidth Internet connection. The local phone
companies are unrolling this access via their Digital Subscriber Line (DSL)
technology. Unlike the cryptic, jerky video that is currently on the Internet, WFM's
"streaming" video is full-motion full screen video. The ability to deliver streaming
video represents a monumental milestone in both Internet technology and the
convergence of digital technologies such as the Internet, telephony, satellite, cable,
broadcasting, audio and video. Digital convergence has begun to evolve over the
last three years, but one of the most crucial aspects, full-motion, full screen video
streaming, was until now unavailable. This major technology requirement has finally
arrived.
With the integration of World Film Marketing into Genesis, the company in the near
future, will be able to provide the end user with, sporting events, video yellow
pages, health and educational programming, video and teleconferencing, available
real estate in any given geographical location, corporate entertaining videos for their
products and services, and many more valuable services.
For Risk Factors, see the Safe Harbor Act Disclaimer.
SOURCE Genesis Media Group, Inc.
/CONTACT: Genesis Media Group, Inc., 310-665-0221; or World Film
Marketing, LLC., E-Mail: troyfilms@aol.com/
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