TORONTO, Ontario -- Networks North Inc., (NASDAQ: NETN) has entered into an exclusive ten-year marketing and distribution agreement with Players Network, Inc. (OTCBB:PNTV).
Under the executed agreement, Networks North Inc. will market the 24 hour digital network developed by Players Network to Casinos and Hotels throughout Canada. In addition to the digital network, through Networks North, Inc's., subsidiary Magic Lantern Communications, it will market all developed programs of Players in all markets, including television, non-theatrical, home video, in-flight, digital and Internet delivery. Networks North Inc., has paid a $50,000 rights fee and has agreed to pay Players a fifteen (15%) royalty on all gross receipts received from the exploitation of Players products and programs.
Networks North Inc. is focusing on becoming a major player as a content provider to digital networks. "The high quality of entertainment and gaming programs developed by Players will be a key enhancement to our distribution networks, and open doors to new ones," Networks North, Inc. President and CEO said.
Networks North's operating units include wholly owned Magic Lantern Communications Ltd., NTN Interactive Network Inc. (NTNIN), and 51% of Interlynx Multimedia Inc. NTNIN is the exclusive Canadian licensee of NTN Communications, Inc. (AMEX:NTN), a leading producer and programmer of interactive television, online and Internet entertainment. The NTN Entertainment Network distributes programming to more than 15 million participants per month at restaurants, sports bars, and other group viewing locations throughout North America, including over 525 in Canada with over 2.5 million participants. Interlynx Multimedia is a new media production and distribution company encompassing all aspects of electronic communications including computer based learning, CD-ROM, the Internet and World Wide Web.
Players Network (OTCBB:PNTV), a Nevada corporation is a digital 24-hour gaming and entertainment network which specializes in producing television programming to serve the rapidly growing gaming industry. The company delivers its 24-hour television channel directly into the hotel and casino guestrooms. The company's format is designed to educate new players and promote casino games and activities. Programming includes shows on basic gaming instruction, news, sports and racing, entertainment and tournaments.