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Oct 02, 2008 -- Zcom Networks, Inc. (PINKSHEETS: ZCMN | Quote | Chart | News | PowerRating) today announces that its subsidiary Pam TV International, Inc., a Washington DC provider of TV, radio, music and live streaming programming viewed around the world, has agreed in principal to a license agreement whereby Pam will offer the existing private label service offerings of (www.globalweb.tv) to the present and future Pam TV customer base. Pam TV, a subsidiary of Zcom, offers a wide range of television, radio, talk, and music programming through a multimedia, interactive broadcast platform that brings together the internet, traditional radio and satellite television and radio. As its foundation, the platform offers a multi-portal, multi-station, multi-channel internet broadcast web presence featuring a growing list of television, radio, and music stations.
Oct 02, 2008 -- Praebius Communications, Inc. (PINKSHEETS: PRCM | Quote | Chart | News | PowerRating) has announced that it has completed its Ad Systems first year installation and contracts into nearly 250,000 subscribers in Franchise Cable TV Systems, Multiple Dwelling Units, University Campuses and Hotels. The systems installed allows Ad Systems, Inc. to be the exclusive cable advertising sales company for all systems on cable TV networks such as CNN, ESPN and USA. J. Michael Heil, CEO of Praebius Communications, Inc., states, "The Ad Systems Technology is working perfectly and over the summer we added a traffic and billing module to our technology quiver in all of our system installations. We also have a tremendous contract backlog and this allows us to capture and keep more of the ad revenue we generate. The AD Systems configuration also allows system management to be virtual allowing centralize management of systems throughout the country." Dave Allen, Ad Systems V.P. of Sales, notes: "We are finding that there are many areas of the country that have been without our system and the cable Ad Insertion capabilities and the way we do business allows us to fill that void. Local, regional and national advertisers can now advertise into zip codes and to markets that have been previously unreachable with video ads." Mr. Allen further adds: "One of our first contracted systems was with the University of Mississippi and because of the Presidential debates this past weekend they received a lot of attention from both political and local advertisers. Ole Miss, like many universities, is operating its own cable system that feeds television programming to campus dorm rooms, university housing, class rooms, offices and in public areas that serve an entire campus population of students plus faculty and visitors. Cable TV programming like CNN, ESPN and TBS can also be seen in lounge areas, including student union areas, lobbies, and many other public areas on campus."
Oct 03, 2008 -- CTC Media, Inc. (NASDAQ: CTCM), Russia's leading independent media company, announced today that it has completed the acquisition of a 51% interest in the broadcasting group: "Teledixi" SRL and "Muzic Ramil" SRL in Moldova for $4.1 million in cash. The channel is expected to re-launch in CTC format during the fourth quarter of 2008. Commenting on the acquisition, Anton Kudryashov, Chief Executive Officer of CTC Media, said, "We are pleased with the opportunity to broaden the reach of the CTC Media brands and strengthen our position among the countries of the former Soviet Union. Moldova is a country with a growing economy and the potential for future growth in the television advertising market. We are confident that our expansion into Moldova will be successful since CTC Media possesses a sound track record of building and operating TV networks. We believe that the combination of our programming expertise and the knowledge and experience of our Moldavian part ners will result in a unique entertainment channel for Moldova television viewers." Dan Lozovan, General Director of "Teledixi" SRL, said, "Our partnership with CTC Media allows us to meet our viewers' expectations with regard to high quality content. I am optimistic that the combination of our successful local production and CTC's proven programming will enhance the channel's appeal to both viewers and advertisers."
Oct 02, 2008 -- SIRIUS XM Radio (NASDAQ: SIRI | Quote | Chart | News | PowerRating) today announced the introduction of the Starmate 5, the next generation Dock & Play satellite radio that will play over 130 channels of SIRIUS programming, including 100% commercial-free music, plus talk, sports, news, comedy and entertainment. "We are pleased to launch the first-ever satellite radio enabled for A La Carte channel selection," said Bob Law, Group Vice President and General Manager, Aftermarket Division, SIRIUS XM Radio. "The Starmate 5 Dock & Play radio reinforces SIRIUS XM Radio's promise to give consumers more programming and pricing options." Starmate 5 is built with universal docking capability, allowing for effortless transfer between home and car docks. The popular SIRIUS Dock & Play radio features a blue widescreen display for easy viewing and use, and includes a complete vehicle kit. Optional accessory docking kits and audio systems allow convenient use in the home, office and additional vehicles.
Market Wrap for October 3rd, 2008
Friday marked the end of an incredible week on Wall Street. On Monday the S&P 500 fell more than 9% after Congress rejected a plan to purchase distressed assets from financial firms. By week's end, Congress approved an amended version of the plan, but traders sold the news in a concerted effort. Investors were upbeat since the sounding of Friday's opening bell, mostly confident the House of Representatives would pass the latest version of the $700 billion asset purchase plan. Participants were also encouraged by the prospect that the Fed will slash its target interest rate at its next meeting, or even convene between scheduled meetings to more quickly add liquidity to markets. The major indices were at their best levels of the session midday. At that point the Dow was up 3.0%, while the S&P 500 and the Nasdaq were each up 3.6%. The positive sentiment was enough to overshadow another dose of dour economic data. Specifically, the Department of Labor announced nonfarm payrolls were down for the ninth consecutive month. They fell 159,000 in September, exceeding the drop of 105,000 that was widely anticipated. The unemployment rate remains at an elevated 6.1%. Generally overlooked, the ISM nonmanufacturing index for September came in at a relatively neutral reading of 50.2. Though it is down a bit from the prior reading of 50.6 and slightly above the consensus reading of 50.0, it indicates steady activity. Dealings in the banking industry also helped early sentiment. Wells Fargo (WFC 34.82, -0.34) and Wachovia Bank (WB 6.21, +2.30) announced they would merger their operations in a stock-for-stock transaction valued that valued shares of WB around $7.00 each, a premium of almost 80% to the prior session's closing price. The overall transaction is valued at $15.1 billion. Though the announcement was pleasing to market participants, Citigroup (C 18.42, -4.08) contends that it violates an exclusivity agreement made when Citi agreed to acquire Wachovia's banking operations. That deal was struck earlier this week and backed by the FDIC. Multiline insurers were up almost 15% at their session high, but finished with a gain near 1.1%. The overall financial sector had climbed to a gain of 4.9%, but closed with a loss of 4.0%. The turnabout came after Congress approved an amended version of a $700 billion plan to purchase distressed assets from financial companies. A knee-jerk reaction by traders sent stocks down sharply as they sold the news of the plan's approval. The major indices remained in a funk for the remainder afternoon and finished near session lows. The retreat turned the large gains seen earlier in the session into losses near 1.5%. Friday's sell off extended this week's already massive losses. For the week, the Dow shed 7.4%, the Nasdaq dropped 10.8%, and the S&P 500 fell 9.4%.
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