Imagination TV, Inc. Retains Legal Counsel to Demand Accounting From ClearVision Airport Television Network
Published: Nov 5, 2014 8:47 p.m. ET
LOS ANGELES, Nov. 5, 2014 /PRNewswire/ -- Imagination TV, Inc. (otc pink:PNCH), Imagination TV. (Formerly named IC Places, Inc.) announces today it has retained the Law Office of Greg Loomis for the preservation of Imagination TV's rights under a written Content Agreement entered into on March 12, 2012 with ConnectiVISION / ClearVision Networks to run on their networks which would allow ConnectiVISION / ClearVision to broadcast Imagination TV's shows in certain Hospitals, Clinics, Doctor's Offices and Airport locations nationally.
The Content Agreement provided that ClearVision/ConnectiVISION "shall use its best efforts to broadcast [Imagination TV's] content."
Further, The Content Agreement's compensation clause states that "upon securing advertiser sponsorship attached to any IC Places (Currently named Imagination TV, Inc.) content; ClearVision/ConnectiVISION and IC Places will split any revenue generated from advertisers sponsorship 50%/50%. Payment upon receipt of advertising revenue." In addition, the Content Agreement permits Imagination TV to request "monthly written report[s] showing the number of locations and names of the venues where content aired and the number of viewers."
Shortly after signing the agreement, Imagination TV began to deliver episodes of The Hollywood Fast Lane and Travel Tech to air over the ConnectiVISION / ClearVision Airport Networks. Travel Tech was produced specifically by Imagination TV, Lodestar Film and Tension Films for the ConnectiVISION / ClearVision Airport Networks.
Sept. 12, 2012 via PRNewswire in a joint press release, David Tetreault, Chief Marketing Officer at ClearVision/ConnectiVISION stated… "Our partnership with 'IC Places' (the company's former name) sets in motion the creation of original programming that is appealing and highly relevant to our viewers in airport environments throughout the U.S. We are extremely excited about the prospects of Travel Tech and its appeal to our advertisers and brands who demand a cohesive integration of their messages into our overall programming experience."
According to a November 7th 2013 Clear Channel Outdoor press release titled "Cleveland Hopkins International Airport (CLE) to Offer Clear Channel Outdoor's ClearVision TV Network. Local, National Businesses to Benefit from Dynamic Ad Platform Reaching CLE's Nine Million Annual Travelers", ClearVision is a partnership between Clear Channel Airports (CCA), a division of Clear Channel Outdoor Holdings, Inc. CCO, -3.05% and ConnectiVISION Digital Networks and is headquartered in Burbank, CA.
According to ClearVision's website, ClearVision is a dynamic television network programmed to enhance the airport experience for busy travelers on-the-go. ClearVision's roster of over 200 programming partners (which Imagination TV was one of) features top television content that spans Entertainment, Lifestyle, Music, News and Sports. ClearVision's quality programs and balanced lineup are at the foundation of its success in connecting with millions of air travelers throughout the United States.
ClearVision targets frequent flyers in the busiest airports by running content 18 hours a day during the busiest travel times. Our system allows for multiple price points to accommodate National, Regional and Local clients through Pop-Up tower ads with no upload fees! Your existing or custom ads run as commercial inserts during major TV network programming for a fraction of the cost of traditionally executed TV campaigns!
Though not affiliated with Imagination TV, according to the http://clearvisiondigitalnetwoks.com website, a sample of other content on the network includes America's got Talent, 60 Minutes, Blue Bloods, CBS This Morning, The Good Wife, How I Met Your Mother, Hawaii Five-0, CBA Evening News and The Big Bang Theory.
Also according to the company website currently ClearVision runs in Raleigh NC, New Orleans, Denver Cleveland and Dallas airports.
Since inception of the Content Agreement, Imagination TV has periodically requested in writing the information that demonstrates the number of locations and names of the venues where its content aired and the number of viewers and what advertising revenues where received. Each time Imagination TV made this request, ClearVision/ConnectiVISION failed to supply any information. As recently as September 1, 2014, ClearVision/ConnectiVISION, through their attorney, has refused to provide any information, including any information regarding ClearVision/ConnectiVision's contractual obligation to use its best efforts to broadcast Imagination TV's shows, in order to determine any applicable accountings to honor the 50/50 revenue sharing Content Agreement.
"We relied on the revenue potential the ClearVision/ConnectiVISION offered us." said Steven Samblis, Chairman of Imagination TV. "We produced and delivered content specifically for the Airport Network at a great expense. Shareholders over the years have ask us where the revenues are from this agreement and all the work we put into it. We can offer no answers because we have no way to knowing what we may be owed because they refuse to offer us any type of accounting. All we are asking for is the broadcast history related to our Content in order to determine what revenues are due to us."
About Imagination TV
CEO Steve Samblis shouldn't you be able to reference any of your SEC Filings for ClearVision/ConnectiVision content agreement specifics. How come you did provide direction to the Market as to where these filings are. You did file SEC Material Event filings for the ClearVision/ConnectiVision content agreement revenue specifics......right?
Since inception of the Content Agreement, Imagination TV has periodically requested in writing the information that demonstrates the number of locations and names of the venues where its content aired and the number of viewers and what advertising revenues where received. Each time Imagination TV made this request, ClearVision/ConnectiVISION failed to supply any information. As recently as September 1, 2014, ClearVision/ConnectiVISION, through their attorney, has refused to provide any information, including any information regarding ClearVision/ConnectiVision's contractual obligation to use its best efforts to broadcast Imagination TV's shows, in order to determine any applicable accountings to honor the 50/50 revenue sharing Content Agreement.
CEO Steve Samblis couldn't you go after ClearVision/ConnectiVision like you did with the alleged cybersquatter? Please Advise
Also let's see what your SEC Filings for the ClearVision/ConnectiVision content-revenue agreement looks like. No the entire filings now just parts of it......
