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LONDON--(BUSINESS WIRE)--Aug. 9, 1999--The Auction Channel, an
Internet and television auction service that features
auctioneer-moderated programming in addition to real-time online and
telephone bidding (and a subsidiary of Brilliant Digital
Entertainment, Inc. - AMEX:BDE), today announced that it has entered
into a 12-month agreement with Sky Sports, the UK's leading sports
channel, to broadcast a series of live sports auctions.
The agreement follows a successful first series of sports
auctions provided by The Auction Channel including a Tennis
Memorabilia sale by the prominent international auction house,
Christie's, when electronic bids were recorded on 30% of the lots and
10% of the lots were sold to The Auction Channel bidders. The Auction
Channel offers TV and Internet audiences the same opportunity to
secure lots via electronic Internet or telephone bidding as those
bidders present in the auction room. The first series, which began in
December 1998, generated good TV ratings as well as active online
bidding which has helped drive many of the prices well above estimate.
Roger Moody, Head of Commercial Development for Sky Sports, said,
"The audience for The Auction Channel's programming - both the
previews and the live auctions - has proved to us there is a strong
interest and an opportunity to expand this genre. We have held five
successful auctions in the past six months - each with a 30 minute
preview show - and we look forward to showing more events, featuring
more sports, over the next year."
Jason Gleave, founder and Managing Director, The Auction Channel,
stated, "We are delighted to sign this agreement with Sky Sports. As
one of the UK's most popular television channels, they have
demonstrated their ability to support large audiences for televised
auctions. For example, Sky Sports had a cumulative audience reach of
724,000 for the Bonhams Soccer Legends auction preview program and
live event broadcast in March. We expect to continue building a large
viewing audience through Sky Sports and to significantly expand our
auction audience on television and the Internet as well as the pool of
active bidders using our innovative Internet and television e-commerce
capabilities."
The 1999 / 2000 sports auction series started in July with Golf
Memorabilia from Bonhams' Manchester salesrooms and follows with
auctions focusing on Soccer, Formula 1 racing, Rugby, Angling and
Boxing, among others. Full details on the sales, how to register and
how to bid are featured on The Auction Channel's website,
theauctionchannel.com.
About The Auction Channel
Founded in 1996, The Auction Channel is a pioneer in delivering
live, auctioneer-moderated auction programming via the Internet and
television as well as real-time Internet and telephone bidding,
facilitating larger audiences and worldwide e-commerce. The Auction
Channel broadcasts consist of mid to high-end consumer and commercial
auction events conducted by leading auction houses including
Christie's, Phillips, Bonhams, Brooks and others with whom the company
has contracts. More information on The Auction Channel can be found at
theauctionchannel.com.
About Brilliant Digital Entertainment:
Brilliant Digital Entertainment 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: (1) 3-D, digitally
animated content, developed using BDE's proprietary software tool set
and B3D format and displayed on its digital projector; and (2) "live"
online auction "broadcasts," bidding and e-commerce services in
conjunction with top auction houses through its subsidiary The Auction
Channel. More information on Brilliant Digital Entertainment may be
found at bde3d.com.
Information About Forward Looking Statements
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's services, 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.
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