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From the Wires
Navstar Media Holdings, Inc. Signs Contract to Provide Content to Largest Out-of-Home TV Media Group in Beijing
Navstar Media Holdings, Inc. Signs Contract to Provide Content to Largest Out-of-Home TV Media Group in Beijing
By: Marketwire .
Jul. 5, 2006 05:30 PM
BEIJING, CHINA -- (MARKET WIRE) -- 07/05/06 -- Navstar Media Holdings, Inc. (OTCBB: NVMH) ("Navstar") announced today that it has begun to provide content to the largest out-of-home digital TV media group in Beijing. Navstar's subsidiary, Happy Times, has signed a contract to offer two daily programs to BAMC City TV Co. ("City TV") in Beijing. City TV is the largest out-of-home TV media operator in Beijing, with over 5,000 digital TV panels installed in office buildings, hotels, stores and other commercial locations. City TV has the only license to offer non-commercial content to the out-of-home TV media. They transmit media content through DVB-T digital TV network systems which can instantly update and change the content offerings. City TV is the only out-of-home TV media licensed by the Beijing Olympic Committee to offer Olympic related content and is expected to install approximately 20,000 public display TV panels by 2008. Navstar is one of the only three content providers to receive a contract from City TV. This marks an important step in Navstar's strategy of breaking into new media fields. Navistar also continues to grow its traditional TV programming offerings. Steve Sun, Navstar Senior Vice President, stated, "We are very excited to provide daily TV programs to City TV, the largest new TV media group in Beijing. This broadens our customer base and attests to our ability to create and provide content for new media and expand our operations. We intend to leverage our traditional TV content creation and production to launch into new media to extend our value chain and the useful life of our content products while scaling our product delivery. The media world is undergoing dramatic changes in China. Navstar is well-positioned to capitalize on these changes. This contract to provide content to City TV is only the first step in our aggressive strategy of growth." About Navstar Media Holdings, Inc. Navstar Media Holdings, Inc. (OTCBB: NVMH) (Navstar), headquartered in Beijing, is a leading provider of television content in China. The Company intends to grow through internal expansion and strategic acquisitions in the largest emerging media market in the world. In addition to content production, licensing and distribution, Navstar is also engaged in advertising, televised cultural events, corporate communications, and exhibitions. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
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