BEVERLY HILLS, Calif., Nov. 8, 2005 (PRIMEZONE) -- Pop3 Media Corp. (OTCBB:POPTE) today announced that coinciding with the appointment of Ari Bass as CEO on October 31, 2005, that SBC Operations, Inc. delivered a signed Memorandum of Understanding (MOU) concerning a proposed Output Agreement. SBC Operations, Inc., is part of SBC Communications Inc., one of the world's leading diversified telecommunications companies.
Under the Output Agreement proposed within the MOU, SBC would license and exhibit up to 12 premiere features per year commencing as early as January 2006, depending on available server capacity, as well as a mutual understanding of SBC standards of corporate marketability and stature as they relate to Pop3 pictures. Scheduling of pictures is to be determined.
Under the proposed structure, Pop3 would be compensated an amount equal to 40 percent of all gross revenues derived from each picture on the SBC VOD service, and SBC would commit to providing guaranteed VOD carriage of Pop3 titles for no less than 30 days. It would make further reasonable efforts to include Pop3 titles on SBC VOD servers for at least 60 days.
The MOU proposes that Pop3 would be required to make its best efforts to provide a quality print for VOD exhibition. Further, Pop3 would be required to make its best efforts to provide marketing materials such as trailers, stills, slides, key art and more and would also be responsible for providing all necessary metadata and delivery of such to the appropriate parties.
Pop3 and SBC expect to sign an Output Agreement in the coming weeks. However, SBC continues to reserve its right to edit, alter or make additional comments or changes necessary within company guidelines.
For more information, visit www.pop3media.com.
Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.
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