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Summus Works: Broadcast Division Negotiations To Affect Broadcast Division Bottom Line For Eastern Properties

M2 Communications via COMTEX


Nov 16, 2006 12:42:11 PM

Denver, CO., Nov 16, 2006 (M2 PRESSWIRE via COMTEX News Network) --

Summus Works, Inc. (Pink Sheets: SMMW) announced that in lieu of yesterday's announced sale of RSN to a group of investors and the reorganization of former Adelphia cable systems by Comcast and Time Warner in the Northeast, the Company is renegotiating the terms of all cable broadcast activities in Vermont and New York. The Company announced it has suspended its Eastern cable broadcast activities until terms more favorable to the Company's bottom line have been negotiated. Management stated that while revenues are expected to increase in accordance with favorable margins respective to its current and pending broadcast activities in the Western U.S., it is hopeful that its negotiation of similar terms will result in increased profitability and value to the Company and shareholders.

Yesterday, RSN announced it will be sold to private investors "with extensive expertise in the media and resort industries," though the sale remains subject to FCC approval, specifically for the transfer of RSN's broadcast licenses. Approval is expected in early 2007. You can find RSN's release at http://www.rsn.com/aboutrsn/releases/2006Nov16.html.

Summus Works management noted this is an opportune time for the renegotiation of terms on multiple fronts for its eastern properties while the cable broadcast environment itself is undergoing change there. The Company reiterated it still celebrates its eastern roots, having announced earlier today that the 4th Annual Stowe Mountain Film Fest will commence November 25.

Summus Works, Inc. (Pink Sheets: SMMW) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.summusworks.com.

This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

SOURCE: Summus Works, Inc.

CONTACT: Dan Burgess, Summus Works, Inc. Tel: [phone] e-mail: [e-mail] WWW: http://www.summusworks.com Stuart T. Smith Tel: [phone] e-mail: [e-mail] WWW: http://www.smallcapvoice.com

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