Following is a release regarding a new strategic relationship between Level 3 and Broadcast.com. While it does not mention, and is not directly concerned with WAVX, it is indicative of developments in the streaming media and the emerging information on demand world:
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Thursday May 27, 7:30 am Eastern Time
Company Press Release
SOURCE: Level 3 Communications, Inc.
Level 3 and Broadcast.com Announce Strategic Agreement to Significantly Advance Broadband Delivery of Streaming Media
Level 3 To Provide Network Transmission Services For Majority of Broadcast.com Traffic
Broadcast.com To Be Exclusive Provider For Level 3 Streaming Media Requirements
OMAHA, Neb., and DALLAS, May 27 /PRNewswire/ -- Level 3 Communications, Inc. (Nasdaq: LVLT - news) and broadcast.com (Nasdaq: BCST - news) today jointly announced a strategic five-year agreement that they expect to have far reaching implications for the development and provision of future broadband and digital media streaming services over the Internet. The agreement provides broadcast.com unprecedented access to bandwidth at favorable pricing.
Under the terms of the agreement, broadcast.com will use Level 3's international Internet Protocol (IP) network to deliver its audio and video content to mass, scalable audiences at reduced fees. In addition, Level 3 will use broadcast.com as its exclusive provider of turnkey Internet broadcasting solutions for live and on-demand corporate communications for Level 3 and its customers. For example, broadcast.com will be streaming Level 3's annual meeting of stockholders being held today in Omaha, Nebraska. The broadcast is expected to be available on both companies' Web pages at www.Level3.com and www.broadcast.com later today.
The companies also expect that they will work together to develop future products in multicasting and other areas to enhance delivery of broadband video content and digital streaming services by both organizations and their customers.
''Through our relationship with Level 3 Communications, we will gain access to the first end-to-end IP-based fiber network in the world. Together we will take Internet broadcasting to the next level, as we can deliver high-quality broadband content at increased bit rates to mass, scalable audiences,'' said Todd Wagner, chief executive officer of broadcast.com. ''Broadcast.com is committed to scaling our network to provide our customers with a complete, end-to-end broadband and digital media streaming solution. With this agreement, we will be able deliver these solutions more economically with lower bandwidth
costs.''
''We are also pleased that Level 3 has chosen broadcast.com as its exclusive streaming media provider, further strengthening our leadership position in business-to-business broadcasting,'' said Wagner.
Broadcast.com Business Services provides turnkey Internet broadcasting services for thousands of corporations and organizations, delivering live and on-demand audio and video solutions for a variety of corporate communications applications
including seminars, product launches, keynote addresses, distance learning, annual shareholder meetings and quarterly earnings calls. Broadcasts are accessible via the Internet or intranets and can be customized with interactive features including multimedia slide presentations, user registration and tracking, question and answer tools, and archiving.
''We are happy to be associated with broadcast.com as both a customer and a provider of streaming media services,'' said James Q. Crowe, president and CEO of Level 3. ''As the leading aggregator and broadcaster of streaming media on the Web, broadcast.com currently serves an average of more than 1.1 million unique users per day and provides Internet broadcasting services for thousands of corporations and organizations.''
''The communications industry over the past 100 years or so has built a network that in effect extended the reach of our ears literally around the world and at a reasonable cost,'' said Crowe. ''But, we are now entering a new era in communications - one that will extend the reach of our eyes. The Internet and the services provided by broadcast.com are the beginning. We are proud to be providing the broadband capacity for broadcast.com to pave the way with enhanced video and audio services.''
About Level 3 Communications, Inc.
Level 3 Communications, Inc., is a communications and information services company that is building the first international network optimized for Internet Protocol technology. The Level 3 Network combines local, long distance, and undersea networks, connecting customers end-to-end across the U.S. and in Europe and Asia. The company expects to complete the U.S. intercity portion of the network during the first quarter of 2001. In the interim, Level 3 has leased a U.S. national network over which it began to offer services in the third quarter of 1998. Additionally, the 2,000 mile first loop of Level 3's European Network is expected to be ready for service by September 2000. The company began providing service in Europe during the first quarter of 1999. Level 3's common stock is traded on The Nasdaq National Market (U.S.) under the symbol LVLT. Its World Wide Web address is www.Level3.com .
About broadcast.com
Broadcast.com (Nasdaq: BCST - news) is the leading aggregator and broadcaster of streaming media programming on the Web with the network infrastructure and expertise to deliver or ''stream'' hundreds of live and on-demand audio and video programs over the Internet or intranets. The broadcast.com Web sites offer a large and comprehensive selection of programming, including sports, talk and music radio, television, business events, full-length CDs, news, video, commentary and full-length audiobooks, serving an average of over 1.1 million unique users per day. Broadcast.com broadcasts on the Internet 24 hours a day, seven days a week, and its programming includes 410 radio stations and networks, 50 television stations and cable networks, and game broadcasts and other programming for over 450 college and professional sports teams. Broadcast.com also provides Internet and intranet broadcasting services to businesses and other organizations, including turnkey production of live and archived press conferences, earnings conference calls, investor conferences, trade shows, stockholder meetings, product introductions, training sessions, distance learning telecourses and media events. For more information on broadcast.com and its live and on-demand programming, visit broadcast.com .
Forward Looking Statement
The statements made by Level 3 and broadcast.com in this press release may be forward looking in nature. Actual results may differ materially from those projected in forward looking statements. Level 3 believes that its primary risk factors include, but are not limited to: substantial capital requirements; development of effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; technology; the number and size of competitors in its markets; law and regulatory policy; and the mix of products and services offered in its target markets. Risk factors set forth by broadcast.com are contained in its filings with the U.S. Securities and Exchange Commission. Additional information concerning these and other potential important factors can be found within Level 3's filings with the U.S. Securities and Exchange Commission. Statements in this release should be evaluated in light of these important factors.
SOURCE: Level 3 Communications, Inc.
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Level 3 Communications, Inc (Nasdaq:LVLT - news
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