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TRIDON ENTERPRISES (fka TEIM) RSS Feed

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(BSNS WIRE) Tridon Enterprises Inc. Announces Chinese Partner for Implement Tridon Enterprises Inc. Announces Chinese Partner for Implementation of Satellite Pay-Per-View Project Business Editors BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Oct. 22, 2001--Tridon Enterprises Incorporated's (OTCBB:TEIM) Brian T. Brick, CEO confirmed today that its announced acquisition of Alpha Spacecom's ("Alpha") Chinese partner in the recently announced project to construct, launch, maintain and operate KA Band satellites for distribution of news, sports, entertainment, and Satellite Pay-Per-View ("SPPV") services in China is China Broadcast Satellite Transmission Co. Ltd. ("CBSat"), a division of the Chinese Ministry of Film, Television and Radio ("SARFT"). CBSAT is the only satellite operations arm of SARFT. All necessary and required government approvals have been granted the project. A spokesperson for Alpha said that SARFT considers its KA Band satellite services program paramount in bringing the Communication Age to Mainland China. Mr. Brick in his statement said: "The Alpha KA Band satellite, the first one of its kind in China, will efficiently provide effective distribution of media coverage and programming throughout the entire country, including the remote areas where existing cable and terrestrial networks are not adequate to meet ever increasing demand for entertainment arising out of the surging economic growth and expansion of the Chinese middle class. Tridon is pleased to be a strategic part of this undertaking. "SARFT recently announced the granting of limited access to a consortium of AOL/TimeWarner and News Corporation for distribution of programming through its facilities, the first time any rights of this type have been granted to foreign entities. "The Alpha SPPV services will be the only known system of its kind servicing mainland China utilizing an all broadband KA Band technology." He went on to explain: "Once launched, the project will operate through receiving and encrypting all foreign and domestic media `feeds' at a specialized facility in Beijing prior to up-linking to the satellite for country wide distribution. China's recent entry into the World Trade Organization (WTO) greatly enhances our opportunities in China." Alpha and CBSat engineers are working together in Beijing on the KA Band system design to provide maximum efficiency and TV viewing clarity. Industry sources estimate that there are currently 320,000,000 television sets operating throughout the Chinese mainland with over 90,000,000 household cable connection. Project revenue will be derived primarily from up-link fees from domestic and foreign broadcasters and advertising. A highly respected Wall Street media analyst projects the anticipated growth in TV advertising revenues related to this industry in China to grow from current levels of $2 billion to $7 billion in 2010. The transaction is scheduled to close on or before November 30, 2001. Statements in this news release may constitute forward-looking statements made under the safe harbor provisions of the applicable securities acts and regulations, and as such are subject to numerous risks and uncertainties that could affect actual future results, including, but not limited to the uncertainty that any of the matters contained therein will happen and other risks as may be detailed from time to time in the company's filings with the Securities and Exchange Commission. Thus, the actual results may differ materially from those contained in this news release. The company disclaims any obligation to update any statements in this news release. E-mail Brian T. Brick, President/CEO at TEIMPLAYER@aol.com Tele: 310-276-6743. --30--jd/mi* CONTACT: Tridon Enterprises Inc., Beverly Hills Brian T. Brick, 310/276-6743 KEYWORD: CALIFORNIA CHINA INTERNATIONAL ASIA PACIFIC INDUSTRY KEYWORD: CABLE TELEVISION/RADIO SOURCE: Tridon Enterprises Inc. Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com
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