Wi-Fi TV Inc. Boss Cites Hidden Agenda for Failed Blockbuster Takeover of Hollywood Video, and Global Media Announces Debate


NEWPORT BEACH, Calif., March 29, 2005 (PRIMEZONE) -- Wi-Fi TV (Pink Sheets:WFTV) chairman Alex Kanakaris, in a follow-up interview on the nationally syndicated "Business of Success" talk radio show, fueled the ongoing debate on the future of delivery of home entertainment by claiming that the reason behind the failed Blockbuster merger with Hollywood Video had less to do with potential anti-trust violations and more to do with hidden agendas. The Wi-Fi TV chairman stated that he believed there was tremendous concern on the part of shareholders based on speculation that was partly created in an earlier interview, when he called Blockbuster and Hollywood Video dinosaurs on the verge of extinction. "I think we should keep on this. To not hear from these individuals when a billion-dollar idea was floated to the general public involving the livelihoods of a lot of people, not just shareholders, but also people working in stores, is unacceptable. Really at this point, these companies owe an explanation to the customers, the public, to the store operators, to the employees, as to what their strategy is going to be for home entertainment delivery," said Kanakaris.

Talk show host Alan Rothman confirmed in the interview that he had initiated contact with Mark Waddles, former CEO of Hollywood Entertainment, and Mark Stevens, Executive Director and CEO of Challenger Capital Group, a Dallas-based investment group. Rothman went on to say that the investment group purported to be funding Mark Waddel was possibly part of a bid to help Blockbuster by alleviating any government challenges by offering to buy a certain number of the Hollywood Video stores so that it would survive possible government challenge, and rather than pursue that, Blockbuster unilaterally canceled their billion dollar offer for the company.

Kanakaris then called on representatives, right on up to the chairman level of Hollywood Video and Blockbuster Video, to meet his challenge to appear with him on the Business of Success program. "Next week I am ready to go into much more detail as to why video stores are dead, about why videodiscs will be dead, and outline the revenue model for direct over the Internet delivery of films which can then be watched on multiple devices, including TVs," said the Wi-Fi TV chairman. "Our strategy at Wi-FiTV.com since 1995 has been to create a new revenue and technology business model for home video based on over-the-Internet viewing for multiple devices including PCs and TVs," Mr. Kanakaris told Mr. Rothman. Wi-Fi TV Inc. has completed development for the licensing and launching of a movie platform known as Cinema Pop.

The debate, which has raged for the last week, has prompted a number of discussions and articles where opinion has clearly fallen on the side of the Wi-Fi TV chairman. "Interestingly enough" said Kanakaris, "Robert Capps, writing in the April 2005 Wired Magazine said that disks are dead; two new formats aim to bury the DVD, but Web distribution will kill them all. An opinion which merely reiterates the point that not only video stores, but even video disks themselves may be dinosaurs."

Talk show host Alan Rothman confirmed that the Business of Success radio show will host a program specifically examining the future of movie delivery and open the forum for dissenting views. The program will air Sunday April 2, 2005.

The Business of Success radio show broadcasts every Sunday from 9 a.m. to 11 a.m. (PST) and can be heard live on the Internet at www.businessofsuccess.com

About Global Media

Global Media is the company which owns "Business of Success," the global radio program hosted by Alan Rothman. Alan has had interesting guests and great discussions with people from both the business, literary, and entertainment fields including: Ray Bradbury, Michael York, Dennis Weaver, Dr. Laura, Bill Gates, Brian Tracy, Jim Rohn, Mark Victor Hansen of Chicken Soup fame, Jay Leno, Kevin Sorbo, Famous Amos, George Foreman, Garry Betty-CEO and President of Earthlink, Michael Dell of Dell Computers, Tom Hopkins, Colin Powell, and President Bush to name a few.



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About Wi-Fi TV Inc.

Wi-Fi TV, Inc. (949-716-9397, info@wi-fitv.com) has a history of innovation in online content delivery and plans to quantify the value of this unique experience now that high-speed Internet delivery is becoming available to millions of consumers around the world. The Wi-Fi TV homepage (www.wi-fitv.com) currently features online video interviews regarding the latest in consumer electronics.

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.



            

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