Old press release RE: NM and CD, FWIW
Attention Business Editors:
NATIONAL MEDIA CORPORATION LAUNCHES INTERNET SHOPPING SERVICE --
'EVERYTHING-4-LESS'
Guaranteed-Low Price Shopping
Service Offering 500,000 Products
Low Risk, High Return Potential For Millions
Of Dollars of Recurring Revenues and Cash Flow
LOS ANGELES, Sept. 14 /CNW/ - National Media Corporation (NYSE: NM)
announced today another major step in its Internet and electronic commerce
initiatives -- the launching of ''Everything-4-Less'', a membership-based
shopping service. On-line shoppers can buy more than 500,000 products, all
with low-price guarantees.
The Everything-4-Less shopping service will be supported by nearly $100
million in television media. All of the Company's infomercials, which air more
than 2,000 times per week in the United States over cable and broadcast
television, will include separate segments promoting Everything-4- Less and
inviting National Media's millions of customers in the United States to join
the Service.
Stephen C. Lehman, Acting CEO of National Media, said,
''Everything-4-Less is the second major step, after our recently-announced
alliance with broadcast.com, inc. (Nasdaq: BCST), in creating our electronic
commerce platform based on a global marketing foundation of television, the
Internet, and, soon, radio. By leveraging our $100 million in annual
television media; our millions of customer contacts; our international
infrastructure; and our ability to deliver live, taped, and on-demand
programming over the Internet, the Company is uniquely well-positioned to
become a leader in the fast-growing E-Commerce/Internet marketplace.''
''We believe Everything-4-Less has the potential to generate millions of
dollars of revenue and cash flow on a recurring basis and at little additional
cost or risk simply by leveraging our existing infrastructure,'' said Lehman.
The Everything-4-Less shopping service will be powered interactively by
NetMarket (www.netmarket.com), the leading membership-based, value-oriented
consumer shopping site. NetMarket is owned and operated by Cendant Corporation
(NYSE: CD), the world's premier provider of consumer and business services.
Lehman said, ''We are confident that Cendant's unequalled savvy,
experience, vendor relationships, and superior services will make Everything-
4-Less an incredible success not only for National Media, but for all the
other television and cable companies we bring to the Service under our
agreement with Cendant.''
Consumers who do not yet have access to the Internet can also receive the
Service and access to Everything-4-Less' more than 500,000 products by
requesting a catalog service and by ordering through a toll free telephone
number. Consumers can also order many of the products without joining the
Service although they will not receive the Service's guaranteed low price.
Jack Kirby, President of National Media, said, ''This is a low-risk,
high-return opportunity for National Media. By leveraging our $100 million
advertising expenditures to promote Everything-4-Less, we will effectively use
the accepted mass medium of today, television, to drive the commerce medium of
tomorrow, the Internet. With Everything-4-Less, shoppers can find everything
they want at the lowest price -- guaranteed. The range of products is enormous
-- everything from bicycles to beds, cameras to computers, videotapes to
vacuum cleaners. Consumers can even have groceries delivered to their door. In
a virtual sense, Everything-4-Less will become the world's largest store.''
''The name Everything-4-Less says it all,'' Kirby added. ''We are
offering price, convenience, and speed all under one virtual roof -- the
perfect combination for the savvy consumer in the new millennium.
Additionally, National Media's massive advertising, reaching nearly every
household in America, solves the biggest problem faced by Web-based content
providers -- attracting shoppers to their sites.''
In addition to the ''Everything4Less.com Website, National Media will
continue to promote its ''QuantumTV.com'' Website, which will also be linked
to the Everything4Less home page. Additionally, broadcast.com, which provides
access to National Media's Internet video programming and which serves more
than 460,000 unique users each day, will include a link to Quantumtv.com.
Significantly redesigned only a couple months ago, the QuantumTV.com Website
has experienced substantial recent growth in hits and monthly revenues.
The Company also announced that it had filed its preliminary proxy
materials with the Securities and Exchange Commission, the New York Stock
Exchange and the Philadelphia Stock Exchange in connection with its Annual
Meeting of Stockholders, expected to be held in October 1998, to vote on a
previously announced investment transaction by an investor group led by Mr.
Lehman, as well as certain other matters. In connection therewith,
stockholders of National Media are advised to submit to National Media any
proposal they wish to have considered in connection with the Annual Meeting by
September 22, 1998.
National Media Corporation is the world's largest publicly held direct
response television company and is an innovative leader in the growing world
of electronic commerce. It broadcasts more than 3,000 half hours of
programming each week throughout the world, reaches 90% of television homes in
the United States, brings its programming to more than 370 million television
households in more than 70 countries worldwide, and, soon, will provide live,
taped, and on-demand video programming over the Internet.
The Private Securities Litigation Reform Act of 1995 provides a ''safe
harbor'' for forward-looking statements. Certain information included in this
press release (as well as information included in oral statements or other
written statements made or to be made by the Company) contains statements that
are forward-looking, such as statements relating to consummation of the
transaction, anticipated future revenues of the Company and success of current
product offerings. Such forward-looking information involves important risks
and uncertainties that could significantly affect anticipated results in the
future and, accordingly, such results may differ materially from those
expressed in any forward-looking statements made by or on behalf of the
Company. For a description of additional risks and uncertainties, please refer
to the Company's filings with the Securities and Exchange Commissions,
including Forms 10-K and 10-Q.
To Request previous press releases on National Media Corporation please
contact: PR Newswire at 800-758-5804, Ext 604644.
/Company News On-Call: prnewswire.com or fax, 800-758-5804,
ext. 604644/
/Web site: netmarket.com
/Web site: quantumtv.com
/Web site: everything4less.com
-30-
For further information: Bruce Goodman of National Media, 818-461-6510
NATIONAL MEDIA CORPORATION has 57 releases in this database. |
