June 03, 1999 08:02am
Private Media Group Inc. Featured in June 14 Issue of Forbes Magazine
BARCELONA, Spain, June 3 /PRNewswire/ -- Private Media Group Inc. (Nasdaq: PRVT - news), a leader in high-class adult entertainment products and services since 1965 and the first such company trading on the Nasdaq National Market, today announced that it is the subject of a major feature article in both the US and Global editions of the June 14, 1999 issue of Forbes magazine.
``No company is better positioned to take advantage of this new (Internet) world than Private Media Group,'' says Richard C. Morais, Forbes European Bureau Chief. ``Berth Milton, chief executive of Barcelona-based Private Media Group- with 25% net margins and a Nasdaq listing,'' reads caption identifying lead full-length photo of Mr. Milton. ``He is turning his (adult entertainment) library into an Internet monster.
``The feature article goes on to describe Private's 34-year catalog of adult entertainment as ''the MGM archive of hard sex`` and quotes Mr. Milton's aim'' to exploit that archive digitally by charging Private's Internet customers a flat annual fee of $100 for access, plus $20 a month for a wide assortment of videos.`` Mr. Milton was further quoted as saying, ''I can't see any problem in getting 2 million to 3 million people to pay $100 a year that's without all the extra spinoffs.``
``We are extremely privileged to have been featured in the Forbes article which discusses the impact of the Internet on the adult entertainment business,'' said Mr. Milton, commenting on the Forbes feature article. ``We expect our Internet sites, Private.com, Privatecinema.com, Privatelive.com, together with our 24-hour Home Shopping Broadcast Channel Privateinternetshop.com, and our round-the-clock full audio/video multicast broadcast Internet site, Privatelingerie.com to generate multi-million visitors and hits on a weekly basis.''
``Private Media Group Inc. commenced operations in 1965. Its primary business activities today include the acquisition, refinement and delivery of adult feature products, including unrated and adult feature magazines, videos, CD-Roms and DVDs; distribution and licensing of Private's proprietary products on the Internet, including magazines, videos, interactive services, adult novelty products and the Private Circle fashion line; and TV Home Shopping for Private's proprietary and licensed products. For more information, visit the Company's corporate Web-site at www.prvt.com.
This release contains, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgments of those issues. However, because those statements are forward-looking and apply to future events, they are subject to such risks and uncertainties, which could lead to results materially different than anticipated by the Company.