News and comment
I talked to management yesterday. The last of the debentures was converted in the last couple weeks and BDE has raised $4.5 mill in private placements so there is no need for them now ...
"Live" Auction Broadcast Schedule On Brilliant Digital's The Auction Channel
LOS ANGELES/LONDON, Jul 9, 1999 (BUSINESS WIRE via COMTEX) -- TheAuction Channel, a
recently acquired subsidiary of Brilliant(tm) Digital Entertainment, Inc. (AMEX: BDE), announced
today some of its upcoming auction events to be broadcast "live" simultaneously on the Internet
and over television and satellite networks.
The following auctions will be available on The Auction Channel's web site:
theauctionchannel.com, with previews of some auction lots available on television.
-- Residential property - July 14 - Conducted by Allsop & Co., Europe's most successful commercial
and residential property
auction house. -- Golf memorabilia - July 26 - Conducted by Bonhams, one of
London's most well-known auction houses that boasts a tradition of extensive specialty knowledge
for over 200 years. This
auction, also being broadcast on Sky Sports in the UK, includes such exceptional items as a late
19th century thornwood headed
spoon club with an estimated value of $18,600 - $23,250, two Allan Robertson feather balls
estimated at $9,300 - $12,400. A
total of 300 lots will go under the hammer, including clubs, balls, trophies and paintings. -- Soccer
memorabilia - August 19 - Conducted by Brooks, one of
London's premier, high-end auction houses and internationally known for classic car auctions.
Brooks is launching its new
sporting memorabilia division with this high profile sale, being broadcast from the newly opened
"soccer mecca" hall of fame at
London's Country Hall. The auction will be broadcast on Sky Sports, with lots ranging from medals
to signed shirts to rare
19th century lithographs - all attesting to the enduring appeal of the world's favorite sport. --
Residential property - September 15 - Conducted by Allsop & Co.
Details to be released. -- Formula 1 Memorabilia - September - Conducted by Brooks. Exact
date and details to be released. -- Rugby memorabilia - October 6 - Conducted by Phillips, one of
the
world's three leading auction houses, founded over two centuries ago. The auction is timed to
coincide with the start of the Rugby
World Cup and will represent the second Phillips broadcast in The Auction Channel's "live sports
auction" series on Sky Sports. -- Fine Jewelry - November 15 - Conducted by Phillips, the sale will
feature fine jewelry from its Geneva sales room. -- Christmas Gifts - December 6 - Also conducted by
Phillips, this
sale will feature a range of unusual Christmas gifts.
An ongoing and vigorous scheduling initiative is underway for autumn programming and further
announcements of more events and new auctions partners are anticipated.
Interested parties can view the auctions online and on television in select European markets and
bid electronically or via telephone. The Auction Channel's broadcasts feature top auctioneers who
maintain a fast pace and high level of energy throughout bidding and up to the final hammer
price. This "real" auction experience, with its guaranteed lots from top auction houses, compares
favorably to broadly available electronic bidding auction services that lack the immediacy of the
live auction process.
Since partnering with major auction houses such as Christie's, Phillips, Bonhams, Brooks and media
broadcast companies beginning in 1996, The Auction Channel has dramatically increased the
viewing audience for auction programming and generated substantial sales from online and
telephone bids. In fact, The Auction Channel was the first to introduce an automated telephone
auction bidding system and the first to broadcast "live" auction events allowing Internet buyers to
bid in real-time.
Brilliant Digital Entertainment looks to establish joint venture agreements with telecommunications
and media companies worldwide to deliver direct, live auction broadcasts into homes and
businesses with a live Internet transaction capability. Brilliant's e-commerce transaction software
will be leveraged to improve and expand access to bidding.
BDE is engaged in the development and distribution of cutting-edge interactive content and
related e-commerce capabilities for the Internet, broadband, television and other media. Brilliant is
focused on two markets: 3-D, digitally animated content, developed using BDE's proprietary
software tool set and B3D format and displayed on its digital projector; and "live" online auction
"broadcasts" and services in conjunction with top auction houses through itsThe Auction Channel
subsidiary. More information on Brilliant Digital Entertainment may be found at
bde3d.com and on The Auction Channel athttp://www.theauctionchannel.com.
This announcement contains forward-looking statements that involve risks and uncertainties. Actual
results could differ materially from those discussed. Factors that could cause or contribute to such
differences include, but are not limited to seasonality, The Auction Channel's ability to enter into
agreements to provide services to auction houses, consumer interest in participating in live
auctions via the Internet or telephone, the Company's ability to expand The Auction Channel into
the United States, The Auction Channel's ability to establish joint venture agreements and carriage
agreements with television and media companies worldwide, competition with significantly larger
competitors, risks associated with system development and operation, risks of new business areas,
international expansion, business combinations, and strategic alliances and all of the factors that
may influence future business and financial results, including those set forth in the Company's Form
10-KSB for the period ended December 31, 1998 and the Company's Form 10-QSB for the three
months ended March 31, 1999. All forward looking statements are based on information available
to the Company on the date hereof, and the Company assumes no obligation to update such
statements. Copies of the Company's most recently filed Form 10-KSB report and 10-QSB report
and are available from Brilliant Digital Entertainment's Investor Relations department and may be
obtained by calling or writing to our investor relations company, Jaffoni & Collins at 212-835-8500
or bde@jcir.com. |
