NEWPORT BEACH, Calif., June 24, 2004 (PRIMEZONE) -- Wi-Fi TV, Inc. (Pink Sheets:WFTV) announced today that has commenced the launch of an online television network aimed at the exploding "wi-fi" delivery marketplace, and to users of wi-fi enabled devices ranging from cell phones to laptop computers to TVs. The June 21, 2004 edition of Forbes magazine reports that there are expected to be 30 million worldwide wi-fi users during 2004. Wi-Fi TV, Inc. is demonstrating its online TV delivery capabilities through continuous live-streaming programming at www.wi-fitv.com. At the same time, Wi-Fi TV, Inc. also announced its plans to license certain websites that the company has been developing since 1995.
Wi-Fi TV, Inc. has been publicly traded since 1997. It has been a pioneer in the online delivery of movies and books, becoming the first provider to deliver a full-length movie with no download time when, in December 1995, The Perfect Gift was shown on a website called CyberPop and owned by Wi-Fi TV (then known as Kanakaris Communications). Wi-Fi TV is developing a new portal for Internet TV programming which will include an embedded TV type player in its home page.
Wi-Fi TV is also the owner of several other websites (including URLs, content and technology applications) for which it is seeking domestic and international licensing relationships. These sites include the following, many which have been developed and refined over a period of several years in anticipation of the implementation of wi-fi technology (wireless and high bandwidth Internet delivery systems, allowing for the delivery of movies and video) as a mainstream consumer product:
-- CinemaPop (a Beta subscription and pay-per-view movie
delivery system, and movie themed entertainment website
and portal),
-- WordPop (a Beta site which has innovated in both online
eBooks and print-on-demand books),
-- the VideoMeetingPlace (an online video dating and personal
meeting site),
-- the Financial Super Channel (a financial information site), and
-- CineManiaNetwork (a Spanish language entertainment site) are
among those that have been developed as proprietary products.
The Wi-Fi TV, Inc. plans to own and operate its online TV type
website/portal (www.wi-fitv.com) and license to other companies
(which it may have an ownership interest in) the other websites
it has developed.
Wi-Fi TV, Inc. has a history of innovation in online content delivery and plans to quantify the value of this unique experience now that high-speed Internet delivery is becoming available to millions of consumers around the world.
For further information contact Colby Marceau, Wi-Fi TV Corporation investor relations, at 949-716-9397 or Tom Speciale, investor relations consultant at (631) 393-5075.
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
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