| An SI Board Since May 1998 |
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TCTV |
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If any of You thought KTEL was hot, take a look at this one.
Company Press Release
Tel-Com Wireless Cable TV Corporation (Nasdaq: TCTV - news) and its 60% owned subsidiary, The Fifth Avenue Channel, Inc. announced today that the companies have signed a joint marketing and channel carriage agreement in principle with Fashion TV Paris, under which Fashion TV (FTV) will broadcast 5th Avenue Channel programming as part of FTV's daily telecast to over 100 million television households in Europe and Asia. Fashion TV presently broadcasts to over 60 million homes in Western Europe, 30 million in Eastern Europe and 10 million in the Far East.
The 5th Avenue Channel is a 24-hour luxury lifestyles television channel scheduled to premiere in October, 1998. The Channel's website -- 5thAvenueChannel.com -- is expected to launch by mid-summer, 1998 and plans to feature high-end products and services to be offered for sale on the Internet. The 5thAvenueChannel.com anticipates attracting visitors to its website from around the world, driven in part by its television programming.
Ivana Trump, Chairman of the Board of the 5th Avenue Channel, signed the agreement at the National Cable Television Association trade show in Atlanta on May 5, 1998. Ms. Trump stated: ''We are very pleased with this new relationship with Fashion TV. Their programming, showcasing high-end fashion from the best designers in the world, targets the same demographic as our 5th Avenue Channel, and we see many opportunities for joint marketing.''
''The agreement is a major step in a 5th Avenue Channel/Fashion TV plan for a multi-channel global network profiling 'Fashion, Finance and the Fifth Avenue Lifestyle,''' stated Michael Adam, President of Fashion TV. ''The channels, ideally designed for the new digital formats and the Internet, will be interactive and will cross promote both the channels and their websites.''
Mr. Adam continued: ''This agreement will afford Fashion TV new coverage across the U.S. and in Canada as a part of the 5th Avenue/Fashion TV multi- channel program format. We are excited to be working with Ivana Trump, especially with over 30 million potential Fashion TV viewers in Eastern Europe where she has a great following.''
The 5th Avenue Channel agreement with Fashion TV is expected to be finalized within 30 days, according to Mel Rosen, President of TCTV and Mr. Adam. This agreement is 5th Avenue's second major agreement within the last month. On April 6, 1998, the Channel announced an agreement with Bloomberg Television to carry Bloomberg programming as part of its ''5th Avenue Financial'' segments.
In addition to its controlling interest in the 5th Avenue Channel, TCTV is a provider of wireless cable and satellite television and other programming for residential and commercial customers. Mr. Rosen is a major shareholder of The 5th Avenue Channel, Inc., together with Ivana Trump and other private investors.
Forward-looking statements (statements which are not historical fact) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the company's filings with the Securities and Exchange Commission.
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