DELMAR, Calif., April 16, 2003 -- CVOS is pleased to announce that Patrick Bidwill will become President of the affiliate Sports Broadcasting Company. Mr. Bidwill has many years of experience in the sports world, as his family owns the NFL Arizona Cardinals. Sports Broadcasting Company will have its headquarters in Phoenix.
Ed Litwak, Chairman of Cavalcade of Sports Media, Inc. stated, "This appointment completes our search for the person to take the company to the next level. The company can now start its programming schedule as well as creating new shows that will be shown on our network."
Mr. Litwak also stated, "We have targeted our first LPTV station and should complete that purchase within the next few weeks."
Cavalcade of Sports Media, Inc. (OTCBB:CVOS) is engaged in the nostalgic sports entertainment business. Cavalcade's goal is to broadcast nostalgic sports content 24 hours a day, 7 days a week, to cable and satellite providers as a digital network-programming provider. The company intends to utilize its comprehensive library of sports programming featuring a wide variety of popular sports. The Cavalcade library includes vintage sporting events and coverage dating back to the 1940's, with over 10,000 hours of programming available to the company. It is Cavalcade's mission to deliver compelling, informative and historic programming in an efficient fashion. Cavalcade will provide an entertaining and economical nostalgic sports programming alternative. Sports programming is big business. In 1997 ESPN paid $175 million to buy U.S. Classic Sports Network. In 2001 Classic Sports was valued at $1 billion and reached 43 million homes.
This news release contains forward-looking statements that are based upon expectations, estimates and projections by Management which are current as of the date hereof. There are a variety of factors that could cause our actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. In addition, we disclaim any intent or obligation to update those forward-looking statements. Please refer to the Company's filings with the SEC for additional information regarding risks and uncertainties listed from time to time in such SEC reports. Copies of those filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov.