(Comtex 03/20 16:26:51)
B: Game Show Network and Two Way TV -- US -- Close Virtual Channel Deal; Game
Show Network Inks Deal with Two Way TV -- US -- To Develop, Integrate, Manage
and Operate Virtual Channels
LOS ANGELES, Mar 20, 2002 (ENTERTAINMENT WIRE) -- Game Show Network (GSN), the
only 24-hour game channel devoted exclusively to game shows and interactive game
play, and Two Way TV (US), Inc. (formerly known as TWIN Entertainment, Inc.), a
provider of interactive television games and technology, announced today that
they have entered into an agreement to develop and deliver game based virtual
channels.
Continuing its commitment to interactivity, GSN has partnered with Two Way TV
(US) to develop, integrate, manage and operate GSN branded virtual channels
consisting of a mixture of GSN original and classic programming as well as Two
Way TV (US) original stand-alone games. The agreement allows for integration
with most existing middleware brands such as Wink, Liberate, OpenTV, Microsoft
TV and Sony Electronics Application Middleware.
"Two Way TV's experience in interactive television games make them the logical
choice to help dramatically expand Game Show Network's interactive offerings,"
said John P. Roberts, senior vice president of interactive and online
entertainment.
Added Anne Droste, senior vice president distribution, GSN, "This will allow GSN
to present our most forward looking cable and satellite distribution partners
with exciting and unique content."
"This partnership joins two of the leading brands in games today," said Robert
J. Regan, president and COO, Two Way TV (US). "It's an arrangement that brings
together two companies well-positioned to capture the popularity of games and to
bring ITV home to the armchair contestant."
Game Show Network is the premier programming service exclusively dedicated to
the exciting world of games, game playing and game shows. Game Show Network is
jointly owned and operated by Sony Pictures Entertainment and Liberty Media.
Game Show Network offers a wide array of programming including game show
favorites from its diverse library, and new interactive game shows where viewers
can become contestants in their own homes. Game Show Network can be found on the
World Wide Web at gameshownetwork.com.
Two Way TV (US) is a joint venture between Interactive Network, Inc.
(OTCBB:INNN), www.interactivenetwork.net, and Two Way TV Ltd., www.twowaytv.com,
which were among the first interactive and enhanced television companies. Based
in Los Angeles, California, Two Way TV (US) dedicates its resources to
developing multi-player interactive TV applications, enhanced TV games played in
conjunction with live and scheduled television broadcasts and on-demand
entertainment content for an interactive audience. Two Way TV (US) works with
broadcasters, networks and programmers to enable interactive TV, to enrich their
products and improve their brand loyalty. Two Way TV (US), Interactive Network,
Inc. and Two Way TV Limited have entered into a merger agreement, which
contemplates the merger of Interactive Network, Inc. into Two Way TV (US). The
merger is contingent upon, among other things, the approval of Interactive
Network, Inc. shareholders and regulatory approvals. More information on Two Way
TV Inc. (US) is available at twowaytvus.com.
Two Way TV (US) and Interactive Network filed a proxy statement/prospectus and
other relevant documents concerning the merger with the United States Securities
and Exchange Commission (the "SEC"). We urge investors to read the proxy
statement/prospectus, including the section entitled "Risk Factors and Other
Considerations," and any other relevant documents filed with the SEC because
they contain important information. Investors will be able to obtain the
documents free of charge at the SEC's website, www.sec.gov. Read the proxy
statement/prospectus carefully before making a decision concerning the merger.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including descriptions of the
structure and terms of transactions that may occur in the future. These
statements are not historical facts and include expressions of management's
expectations about transactions, which are subject to various contingencies.
Such forward-looking statements involve certain risks and uncertainties. The
actual structure and terms of the transactions may differ materially from those
discussed in these forward-looking statements. Factors that might cause such a
difference include, but are not limited to, changes in the terms and structure
as a result of any applicable regulatory requirements and policy and changes in
the businesses and operations of Game Show Network, Interactive Network, Two Way
TV (US) or related third parties. These entities assume no obligation for
updating such forward-looking statements at any time.
CONTACT: GSN/Anachel Communications, Inc. for GSN
Carrie Gerlach, 310/546-9170
Carrie@Anachel.com
or
Bob Gold & Associates for Two Way TV (US)
Keith Swenson, 310/320-2010
keith@bobgoldpr.com
or
Interactive Network Inc.
Bruce W. Bauer, 650/947-3345
bwb@interactivenetwork.net |
