June 29, 2000 06:01am
Second Satellite Feed Secured for 'Private Gold' On the ASTRA Satellite With Cryptoworks Encrytion
Source: Private Media Group Inc.
by: Company Press Release
(BARCELONA, Spain) -- Private Media Group Inc. (Nasdaq: PRVT - news), worldwide leader in premium-quality adult entertainment products, services and Internet content, today announced that it has been able to secure a second feed in addition to the existing one on AMOS 1 for ``Private Gold'' on the ASTRA satellite through its exclusive joint venture agreement with International Film Productions and Distribution Limited.
Under the terms of the joint venture agreement, in return for Private providing its full viewing content and trademarks, International Film Productions and Distributions promotes and broadcasts the Private Gold channel. The channel contains explicit hard core material and Private Media Group receives 65% of the gross profit generated from the broadcast of, and advertising on the channels. The channel is currently being broadcast in territories in Europe.
ASTRA is the leading satellite system for direct-to-home transmission of TV, radio and multimedia services in Europe. It currently has a fleet of nine satellites and transmits to 22 European countries, with a footprint in 77 million households. With its recent investment in AsiaSat, transmission capabilities now cover three-quarters of the world.
Berth Milton CEO of Private Group commented:
``We are delighted to have secured a second feed on the ASTRA satellite and we are very pleased with how our joint venture with IFPD is progressing.
``This feed allows us to transmit to a much wider audience and I believe that we will see further distribution of both 'Private Blue' and 'Private Gold' channels in due course. Although our broadcasting division is relatively new the opportunities available to us are immense and I very much view the future with confidence.''
The leading publicly-quoted adult entertainment company in the world, Private Media Group Inc., is the founder of the globally established brand name ``Private'' and has positioned itself in the marketplace with a visionary management strategy that combines both New Economy (Internet, multimedia, e-commerce) and Old Economy (videos, magazines) business models. Maintaining a total adult lifestyle philosophy, this is reflected in the Company's broad range of products and services, both proprietary and licensed, and its strategic policies of development, diversification and acquisition.
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.
For further information, please contact: In Barcelona, Spain: Johan Gillborg of Private Media Group Inc., +34-93-590-7070, johan@milcap.es; or In London, England: Adam Reynolds of Hansard Communications.Com, +44-207-840-7782, adam.hansard@clsholdings.com.
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