GameZnFlix, Inc. Announces Investment in London International Television Ltd to Create "The Business Channel" GameZnFlix (OTCBB: GZFX) and London International Television Ltd today announced an investment by GameZnFlix in LITV for the purpose of creating the "The Business Channel" to be broadcast on digital satellite later in 2006. GameZnFlix intends to purchase a 25% interest in LITV with the payment of $2,000,000 over the next year. In addition, GameZnFlix may invest up to an additional $10,000,000 to $25,000,000 within 12 months.
"We're excited about our investment in LITV and the opportunity to extend our company into the United Kingdom. Our relationship with LITV over the past few years has allowed both companies the chance to know and understand each other. This is another step in our business model of providing movies and games to our members through our core business model (postal delivery), but additionally of moving towards on-demand and other media," notes John Fleming, GameZnFlix CEO.
The two companies intend to produce a new channel to be aired in the United Kingdom. Focusing on the needs of British business owners and entrepreneurs to be better informed about the business of doing business, The Business Channel will be the leading component of a venture into this media space that the two companies believe is poorly served by mainstream and financial broadcast channels.
"Having had an interest in the growth and development of GameZnFlix during the last three years, I am delighted now that this new relationship continues to grow. The agreement with GameZnFlix will provide LITV with the opportunity to expand and direct its operations into a new arena, providing its present and future clients worldwide, a new route to the UK B2B and B2C markets, including a new dedicated broadcast and IPTV channel combined with other web-based commercial features," adds LITV's Martin Everard.
About London International Television Ltd
London International Television Limited (LITV) provides corporations with the opportunity to harness the power of television in a secure and controlled way, specializing in the production of documentary style corporate profiles into B2B and consumer markets in Europe, the Middle East, South East Asia, Pacific rim countries and North and South America.
About GameZnFlix
GameZnFlix is a company that offers video games/DVD movies for rental or purchase on the Internet with access to over 40,000 game and movie titles. With different membership levels beginning at $8.99 a month, subscribers can rent a combination of both video games and/or DVD movies with no late fees or due dates or members can purchase video games, DVD movie titles, books and audio books at a membership discount.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. GameZnFlix cautions that these forward-looking statements are further qualified by other factors including, but not limited to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly
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