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Microcap & Penny Stocks : fhtv Fisher Television Corp -- Ignore unavailable to you. Want to Upgrade?

To: Mr Metals who wrote (513)	11/30/1999 2:47:00 PM
From: TallTrader	Read Replies (1) \| Respond to of 641

Has anyone seen this old press release? Found it digging up info on Summit Silver. (PR NEWSWIRE) DJ: Summit Silver to Acquire Fisher Television Co. DJ: Summit Silver to Acquire Fisher Television Co. COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Sept. 10, 1998--Summit Silver Inc. (OTC BB:SUSV) Thursday announced that it has signed a letter of intent to acquire 100 percent of the outstanding shares of Fisher Television Co., a private company based in Macau. The transaction will involve an exchange of Summit Silver shares for those of Fisher, and is subject to shareholder approval at a shareholders meeting scheduled for Sept. 24. Fisher Television Co. ("FTV"), a Delaware corporation, and its subsidiary, Home Shopping Resources Limited, a Macau company, commenced operations in 1993 for the purpose of owning, operating and developing a satellite broadcast network delivering direct response, infomercial, home shopping and general entertainment television programs to cable operators located throughout the People's Republic of China (the "PRC"). Fisher has secured the guaranteed distribution and landing rights through a five year contract, and five year option, with a Chinese satellite company, Cosmos Satellite Television, S.A.R.L., which is controlled in part by Chinese Government agencies and is authorized to broadcast through the Chinese cable system from satellite or by tape distribution. Fisher has additionally secured one transponder for the first quarter of 1999 from Telesat Satellite Communications (Telesat), a Chinese Government owned satellite company and which is operating as a full service uplinking and broadcast service from Macau. The footprint of the satellite covers the entire Asia/Pacific region. Telesat is a shareholder and has common management with Cosmos Satellite Television. Fisher, Cosmos and Telesat have all necessary licenses and approvals from the Macau and PRC authorities necessary to uplink FTV's broadcast from Telesat's state-of-the-art earth station in Macau, and Cosmos has the rights to distribute FTV's broadcast to the cable systems in the PRC. Fisher will operate a state-of-the-art telephone call center using the first toll-free lines from the PRC into Macau. The contract for the "800" numbers has been signed with CTM (jointly owned by the Cable & Wireless group, Portugal Telecom, and the Chinese Government). Portugal Telecom is also a shareholder in Telesat. Fisher has secured a contract from China "EMS" (Ministry of Post and Communications) to deliver the merchandise to the end user and established a C.O.D. collection method for non-credit card users. Merchandise sourcing arrangements have been made with many Western manufacturers with Asian operations who are eager to develop brand images in China. Currently, Fisher is negotiating with the operator of a major home shopping channel to provide programming for the venture. This initial programming will be in English and will be dubbed in Chinese. FTV will initially source programming for its broadcasts from Western infomercial, direct-response and home shopping companies. Pursuant to these agreements, the company will sell air time at a discount and receive payment prior to broadcast. Fisher will also receive fees for telecommunications costs and benefit from profit-sharing arrangements from sales of products in consideration of production, warehousing and fulfillment services provided by Fisher. Once the home shopping infrastructure is firmly established, and Fisher's Macau based studio is completed, FTV will launch a live, all-Mandarin home shopping program which will be produced and broadcast by the company, and will begin producing its own direct-response television and other programs. Since market reforms were started in the late 1970s, the Chinese television industry has seen phenomenal growth. The number of television sets has increased dramatically since then and growth shows no signs of slowing in the near future. Currently over 90 percent of urban households own televisions. China's ultimate television market is estimated at 350 million television households with a viewing population of 1.03 billion people. Approximately 23 percent of the world's potential television viewers live in China. Fisher Television is headed by William A. Fisher. Fisher has approximately 25 years of professional experience in merchandising, advertising, marketing, sales and celebrity promotions and endorsements. In 1974, he established his own wholesale merchandising and brand development consulting business in Asia, whose clientele included international retailers and fashion houses. Fisher was the exclusive product sourcing agent in Asia for the Home Shopping Network, helping to develop its original merchandising and product sourcing operations and brand strategy, and to pioneer the home shopping revolution in the United States. Fisher has lived and worked in Asia for the past 18 years, and currently resides with his family in Macau. Upon consummation of the acquisition of Fisher Television, Summit Silver plans a name change and may undertake divestiture of its remaining mining assets. For further information, please contact John Ryan at 208/769-7340. CONTACT: Summit Silver Inc., Coeur d'Alene John Ryan, 208/769-7340 15:24 EDT SEPTEMBER 10, 1998