LAS VEGAS, Oct. 25, 2004 (PRIMEZONE) -- OBN Holdings, Inc. (OTCBB:OBNH) is redefining entertainment for millions of households throughout North America as a vertically integrated entertainment company engaged in television broadcasting; feature film and television production; music production and distribution and merchandising.
Omni has implemented growth strategies that will enable them to produce increased margins, eliminate duplication of overhead, while increasing quality of service. The innovation behind this strategy is Eclectic Entertainment, Retro Records, and Products On Demand Channel.
The OMNI broadcast network is being developed using the same basic model as the United Paramount Network (UPN) and the Warner Bros. Network (WB). OMNI will broadcast programming that it developed or licensed via satellite for three hours per day, and Saturday and Sunday mornings for three hours.
OMNI currently airs on a network of over 100 television stations throughout the United States. As a result, the network is now reaching approximately 40 million households throughout America via broadcast, cable and satellite television. Although it is a new entity, OMNI has positioned itself to compete with UPN and the WB.
Double-digit growth is expected for local television advertising in 2004. Olympic advertising, political battles and a strengthening economy are expected to support this growth. Upfront advertising commitments for the big four television networks set a $9.6 billion record in 2003. Advertising commitments have been strong for the past two years increasing 15% and 19% respectively.
During the second quarter of 2005, OBN Holdings will begin an aggressive growth process that will include major acquisitions of broadcast stations to increase the overall value of the company. OBN has begun looking for stations to either purchase outright or to lease. If a station is leased, once the lease period has expired, OBN will be able to purchase the property for a nominal amount. Currently OBN is investigating approximately 30 properties. OBN has leased its first television station in San Luis Obispo County, California.
Since April 2003, when the original investors invested, OBN Holdings has grown considerably.
OBN has developed some great relationships and has the opportunity to be involved in projects that are normally available only to major studios, production companies and television networks. OBN is in a great position not having the overhead of the major companies, and can be profitable much earlier. High profile projects results in other high profile projects being offered.
Recent areas of growth include Eclectic Entertainment's recently completed production of a television special featuring the Four Tops. The show also included Aretha Franklin, The Temptations, Paul Rodgers, Ashford & Simpson, and Mary Wilson. The special will be aired on the Omni Broadcasting Network and will be licensed to other television networks worldwide. DVD's and CD's of the show will be distributed by Retro Records and also be sold on the Products on Demand Network.
The All Sports Television Network (ASTN) was created as the only national sports television network on broadcast, not cable, television. Programming is being licensed for airing on an ongoing basis.
OBN has developed some great relationships and has the opportunity to be involved in projects that are normally available only to major studios, production companies and television networks. Successfully completing high profile projects will result in other high profile projects being offered.
OBN recently signed a deal with Hollywood entertainment attorney Martin Barab to form a partnership seeking to co-finance feature films with foreign funding groups.
"We are very excited about our prospects this coming year and believe that our potential will soon be reflected in our share price," said Roger Neal Smith, CEO of OBN Holdings.
About OBN Holdings, Inc.
OBN Holdings, consisting of wholly owned subsidiaries Omni Broadcasting, Eclectic Entertainment and Products on Demand Channel, is redefining entertainment for millions of households throughout North America. Approaching 50,000,000 households in 2003, the company intends to have its proven business model produce excellent returns for its investors.
Omni Broadcasting Network is a cable and broadcast television network designed to deliver quality programming to viewers nationwide. The network's target viewing audience is adults 25 years of age and older. However Omni will air programming that can be comfortably viewed by the whole family -- i.e., no gratuitous sex or violence.
Eclectic Entertainment is comprised of four operational areas -- Feature Film Operations, Television Operations, Music Operations and Merchandising. Television Operations consists of all of the activities required to produce original television programs that will be shown on the Omni Broadcasting Network and licensed to other networks and stations worldwide. Feature Film Operations consists of the activities related to producing motion pictures for worldwide theatrical release. Music Operations involves the activities related to producing and distributing music. Eclectic currently oversees the operations of Retro Records, which specializes in the distribution new music performed by recording artists and groups that have previously released gold and platinum albums. Eclectic has established an additional operational area to handle product merchandising.
The Products on Demand Channel (POD) is a cable and broadcast television network designed to deliver informational and direct-response programming to audiences throughout the United States. The company's primary business is providing companies the ability to air 30-minute infomercials to a national audience, and affording independent producers and distributors the ability to air programming to the general market.
For the latest SEC filings or past news releases, go to the company's website at www.obnholdings.com and click on the Press heading. Please direct any financial questions to Todd Doom at Magellan Financial Media Group, LLC. (317) 867-2839.
OBN Holdings, Inc.: 8275 South Eastern Avenue, Suite 200, Las Vegas, Nevada 89123. (702) 938-0467
This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of OBN Holdings, Inc, nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Forward looking statements: This press release and other statements by OBN Holdings may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "potential," or future/conditional verbs such as "will," "should" and "could."