NEW YORK, April 5, 2000 (PRIMEZONE) -- Medium4.com(tm) (OTCBB:MDMM) -- the home of InternetOnlyTV(tm) -- today announced that it successfully completed a private equity placement with Advanced Multimedia Group, Inc., a value-added merchant banker in the Internet economy. According to the agreement between the parties, Advanced Multimedia Group will take an equity stake in Medium4.com and will assist the Company in developing strategic alliances in Latin America, the Indian subcontinent and other emerging international markets.
"The funds provided by Advanced Multimedia Group will facilitate rapid expansion of our recently announced Latin American network, Medium4Latino.com. We are witnessing tremendous growth in this demographic market segment with numerous revenue opportunities for our InternetOnlyTV(tm) networks", said Jonathan Braun, CEO of Medium4.com, Inc.
Graham Cannon, the Company's President added, "The investment and alliance with Advanced Multimedia Group should result in several significant industry relationships, and in itself serves as a strong testament to Medium4.com(tm)'s emerging position within Central and South America."
Kamal Hotchandani, President of Advanced Multimedia Group, commented, "We are impressed with Medium4.com(tm)'s revenue growth model and excited about the prospects of this undervalued investment for our company."
About the Companies
The Medium4.com(tm) name reflects the transformation of the Internet into the fourth medium for television broadcasting -- after over-the-air TV, cable TV and satellite delivery systems. Across the Company's five networks, and over 30 distinct channels, Medium4.com(tm) is the Internet's leader in producing, aggregating and broadcasting rich, in-depth, on-demand video content unavailable on traditional, cable or satellite television.
The Medium4.com(tm) InternetOnlyTV(tm) networks include ForeignTV.com(tm) (http://www.foreigntv.com), StreamingUSA.com(tm) (http://www.streamingusa.com), NicheTV.com(tm) (http://www.nichetv.com), Medium4Music(tm) (http://www.medium4music.com) and a recently announced Medium4Latino(tm) (http://www.medium4latino.com). Each of these utilizes Medium4's proprietary encoding technology creating a seamless streaming video experience.
Medium4.com's(tm) networks are market leaders in delivering original and aggregated streaming video, on-demand, from across the United States and countries around the world including targeted niche programming, music videos and interviews, city-focused entertainment and information, exclusive features and interviews as well as full-length feature films. The Medium4.com(tm) audience watches at work and at home, it includes businesspeople, business and leisure travelers, music, fashion, film and animal lovers and a growing community of armchair globetrotters seeking on-demand access and engagement with the world's people, places, ideas and cultures.
Advanced Multimedia Group is a catalyst for the new Internet economy. AMG's goal is to develop a network of companies holding the promise of leadership in Internet-related businesses, with a particular focus in Latin America and other emerging international markets. AMG has made key early-stage investments in operating e-companies that are already fulfilling their market promise. Each portfolio company contributes to a synergistic alliance by building upon one another's strengths to foster growth and improve market position. AMG has also established strategic development alliances with the major general-interest web portals in Latin America, the Caribbean and the Indian subcontinent.