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US WEST AND SONY CORPORATION OF AMERICA (SCA) INVEST IN INTERTAINER, INC.
Companies Join Intel, Comcast and Sterling Ventures in Intertainer Inc.'s Growing consortium of Investors
NEW YORK and SANTA MONICA, Calif. (April 6, 1998) - Intertainer,
Inc. announced today that U S West Communications and Sony
Corporation of America (SCA) have invested in the company, which
provides "Intertainer," a broadband entertainment-on-demand
programming service. The two companies join Intel, Comcast and
Sterling Ventures - which are each contributing a second round of
financing - in committing capital and technological resources to
Intertainer. As part of the agreement, U S WEST !NTERPRISE
Networking, the data integration arm of U S WEST Communications,
will supply "Intertainer" to its customers via Asymmetric Digital
Subscriber Line-enabled (ADSL) wire centers in 40 cities.
"U S West's and Sony Corporation of America's investments are an
important validation of Intertainer's concepts, technology and market
leadership in aggregating and delivering high-quality video
entertainment-on-demand," said Jonathan Taplin, co-chairman of
Intertainer and 20-year veteran Hollywood producer and entertainment
executive.
"Intertainer" is the world's first interactive broadband service for
on-demand delivery of entertainment programming to the personal
computer or the television. The content is a cross-section of American
pop culture and includes thousands of hours of high quality video
entertainment in over 20 categories, including music, film, television
and shopping. "Intertainer's" intelligent agent enables users to quickly
find the programming they want, when they want it. "Intertainer" will
include a video-based e.commerce service designed to meet the
growing demand for interactive shopping. The service can be
accessed via broadband platforms such as cable modems or through
ADSL.
Internet users with multimedia-capable PCs can access "Intertainer"
through MegaBit Services, U S WEST's new high-speed, ADSL-based
Internet-access service. U S WEST was the first company in the
nation to offer a widely available ADSL service when it launched
MegaBit in Phoenix this fall. It recently announced it would offer the
service in more than 40 cities in its 14-state region.
"U S West is a powerful force in the telecommunications industry, and
we are pleased that its management team has chosen to invest in
Intertainer. By committing its substantial resources to delivering our
service to homes this spring, U S WEST is helping translate our
shared vision into a reality," stated Taplin.
"We're pleased to invest in Intertainer and its visually compelling,
innovative programming service. Partnering with top content providers
is part of U S WEST's commitment to offer our end-users the latest in
high-speed Internet and data services," said Joe Zell, president of U S
WEST !NTERPRISE Networking.
"Sony Corporation of America is an invaluable investor," said
Intertainer co-founder Richard Baskin, an award-winning producer,
composer and executive in Hollywood for more than two decades. "No
other company better combines high quality content with world-class
electronics than Sony. We look forward to working with them as we
bring "Intertainer" to market," added Baskin.
"Intertainer is an example of the promising new kinds of entertainment
services now possible through digital distribution," said Elizabeth
Coppinger, Vice President, New Business Development at SCA. "We
are pleased to be involved with the company as it develops exciting
new entertainment options."
Sony Corporation of America is a subsidiary of Sony Corporation,
headquartered in Tokyo. Sony Corporation is a leading manufacturer
of audio, video, communications and information technology products,
and is one of the most comprehensive entertainment companies.
About Intertainer |
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