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Penn Media Spins Out Portal EVTV1 to Separate Company

Mokena, IL (PRWEB) November 30, 2005 -- Penn Media, the Internet’s largest e-zine and newsletter media company, has decided to spin-off the video portal into its own company. Penn Media CEO, Jaffer Ali noted,

“Our board decided that creating a separate corporate structure for the growing online video business of Penn would allow for its growing capital investment opportunities. Since Penn Media has interests in several subsidiaries, ranging from political consulting to online tracking, creating a separate entity will simplify the structure and position EVTV1 for the growing sector.”

It is technology and syndication program known as Vidsense™, which streams EVTV1’s licensed content to websites all over the Internet. Each website chooses the type of content it wishes to feature. Vidsense™ is currently on over 250 different websites.

Ali continued,

“EVTV1 represents a culmination of our management team’s experiences over the past 30 years. Our team started in the video business when there were less than 100,000 video recorders in the entire country. We have distributed video content through every distribution channel since their inceptions. Distributing content online is the most exciting channel yet, giving us worldwide reach.”

EVTV1 has signed licensing agreements with over twenty home video labels, footage houses, National Geographic and independent film producers in order to offer one of the most diversified content selections anywhere online.

“Combining content plus distribution is what media companies have most coveted since Gutenberg,” Ali stated. “During the beta of EVTV1, we concentrated on securing content and perfecting our player. Now that we have over 200,000 hours of footage under license, it is time to turn our attention to distribution. We plan to do for video what we did for the e-zine business in 1999 and 2000. Our goal is to own properties that combined become the premiere destinations for viewing online video.”

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