Post by bot on May 5, 2004 1:00:22 GMT -5
Gore/Hiatt Group Acquires Newsworld International
-------------------------------------------------
>From PRNewswire
(link:http://biz.yahoo.com/prnews/040504/latu066b_1.html)
Cable Network to Relaunch as Innovative Channel for Young Adults
NEW ORLEANS /PRNewswire/ -- Launching an independent cable television
network in an industry dominated by conglomerates, a newly formed media
company led by former Vice President Al Gore and successful entrepreneur
Joel Hyatt today acquired Newsworld International (NWI) from Vivendi
Universal Entertainment for an undisclosed sum. The acquisition by INdTV
Holdings, LLC was announced during the annual NCTA convention. NWI will be
developed by its new owners into a network offering innovative and
compelling programming created by and for a target audience of 18-34
year-olds.
NWI, a 24-hour channel dedicated to global news produced by The Canadian
Broadcasting Corporation, has earned a reputation for journalistic
excellence and a comprehensive perspective on daily world happenings.
Following its acquisition by INdTV, NWI's programming will continue to be
provided by CBC. NWI is currently distributed to appx. 17 million
subscriber households across the U.S. through DirecTV's most popular
"Total Choice" tier, Time Warner Cable's most widely distributed digital
tier, as well as Comcast systems in key markets and other cable operators.
"We are launching an exciting television network for young men and women
who want to know more about their world and who enjoy real-life stories
created with, by and for their own generation," said Gore who, as Chairman
of the Board, will devote the lion's share of his time to the venture. "We
want to empower this dynamic generation with a network dedicated to them
that has integrity and a commitment to excellence. This will not be a
political network," Gore emphasized, adding, "These stories will be in a
voice that young people recognize and from a point of view they identify
as their own."
Explained Hyatt, "Having learned from both the successes and failures of
other cable networks, we are confident this is a winning concept. As for
its content, we aspire to what Orson Welles once said, 'Don't give them
what you think they want -- give them what they never thought was
possible.' We are building a truly independent media company which will
share the power of the television platform, enabling young people to
contribute in significant ways to the creation of the content they
consume."
The acquisition of NWI was financed by leading equity capital firms and
individual investors including successful entrepreneurs and media
pioneers.
INdTV founders Al Gore and Joel Hyatt bring a complementary set of talents
and experiences to the network.
Al Gore (Chairman of the Board) brings to the company a lifetime of
experience at the intersection of public policy, technology and media. He
served four terms in the U.S. House of Representatives and two in the U.S.
Senate, establishing himself as an expert in technology, communications,
nuclear disarmament, the environment and other issues. As Vice President
of the United States (1993-2000), he led Administration policies on
telecommunications and actively championed causes such as the environment
and the growth of the Internet. Mr. Gore currently works as an
entrepreneur, a senior advisor to Google, a director of Apple Computer,
and as a visiting professor at three universities.
Joel Hyatt (Chief Executive Officer) is a proven entrepreneur, having
twice turned ideas into successful ventures, both times against
significant odds. He took on the legal establishment with Hyatt Legal
Services, which provided low-cost services to middle- and lower-income
families and grew to serve over three million clients. His Hyatt Legal
Plans (acquired by Metropolitan Life Insurance Co.) became America's
largest provider of employer-sponsored group legal plans. Mr. Hyatt has
served on the faculty at Stanford University's Graduate School of
Business, where his courses on entrepreneurship have been among the most
popular at the school.
In addition to Gore and Hyatt, among those leading the INdTV team is:
Mark Goldman (Chief Operating Officer), who began his career at MCA
Television, where he spent five years as a senior business development
executive, negotiating license and investment agreements and developing
foreign television channels. In 1995 he was recruited by News Corp. to
build a satellite venture in Latin America. Mr. Goldman assumed the
position of President and COO of Sky Latin America Partners, securing over
$700 million in financing, building broadcast operations, and establishing
a network of local operating companies.
Among those on the company's advisory board guiding the growth of INdTV
are Steve Jobs, CEO of Apple Computer, Inc., the Silicon Valley icon who
revolutionized the computer hardware and software industry with the
invention of the personal computer, and developed Apple into one of the
world's most recognized and well-liked consumer brands; and Orville
Schell, Dean of the University of California at Berkeley School of
Journalism, an influential thought leader who has published 14 books and
over 150 articles, served as correspondent for several PBS "Frontline"
documentaries and CBS' "60 Minutes," and is the recipient of Guggenheim
and numerous writing awards.
-------------------------------------------------
>From PRNewswire
(link:http://biz.yahoo.com/prnews/040504/latu066b_1.html)
Cable Network to Relaunch as Innovative Channel for Young Adults
NEW ORLEANS /PRNewswire/ -- Launching an independent cable television
network in an industry dominated by conglomerates, a newly formed media
company led by former Vice President Al Gore and successful entrepreneur
Joel Hyatt today acquired Newsworld International (NWI) from Vivendi
Universal Entertainment for an undisclosed sum. The acquisition by INdTV
Holdings, LLC was announced during the annual NCTA convention. NWI will be
developed by its new owners into a network offering innovative and
compelling programming created by and for a target audience of 18-34
year-olds.
NWI, a 24-hour channel dedicated to global news produced by The Canadian
Broadcasting Corporation, has earned a reputation for journalistic
excellence and a comprehensive perspective on daily world happenings.
Following its acquisition by INdTV, NWI's programming will continue to be
provided by CBC. NWI is currently distributed to appx. 17 million
subscriber households across the U.S. through DirecTV's most popular
"Total Choice" tier, Time Warner Cable's most widely distributed digital
tier, as well as Comcast systems in key markets and other cable operators.
"We are launching an exciting television network for young men and women
who want to know more about their world and who enjoy real-life stories
created with, by and for their own generation," said Gore who, as Chairman
of the Board, will devote the lion's share of his time to the venture. "We
want to empower this dynamic generation with a network dedicated to them
that has integrity and a commitment to excellence. This will not be a
political network," Gore emphasized, adding, "These stories will be in a
voice that young people recognize and from a point of view they identify
as their own."
Explained Hyatt, "Having learned from both the successes and failures of
other cable networks, we are confident this is a winning concept. As for
its content, we aspire to what Orson Welles once said, 'Don't give them
what you think they want -- give them what they never thought was
possible.' We are building a truly independent media company which will
share the power of the television platform, enabling young people to
contribute in significant ways to the creation of the content they
consume."
The acquisition of NWI was financed by leading equity capital firms and
individual investors including successful entrepreneurs and media
pioneers.
INdTV founders Al Gore and Joel Hyatt bring a complementary set of talents
and experiences to the network.
Al Gore (Chairman of the Board) brings to the company a lifetime of
experience at the intersection of public policy, technology and media. He
served four terms in the U.S. House of Representatives and two in the U.S.
Senate, establishing himself as an expert in technology, communications,
nuclear disarmament, the environment and other issues. As Vice President
of the United States (1993-2000), he led Administration policies on
telecommunications and actively championed causes such as the environment
and the growth of the Internet. Mr. Gore currently works as an
entrepreneur, a senior advisor to Google, a director of Apple Computer,
and as a visiting professor at three universities.
Joel Hyatt (Chief Executive Officer) is a proven entrepreneur, having
twice turned ideas into successful ventures, both times against
significant odds. He took on the legal establishment with Hyatt Legal
Services, which provided low-cost services to middle- and lower-income
families and grew to serve over three million clients. His Hyatt Legal
Plans (acquired by Metropolitan Life Insurance Co.) became America's
largest provider of employer-sponsored group legal plans. Mr. Hyatt has
served on the faculty at Stanford University's Graduate School of
Business, where his courses on entrepreneurship have been among the most
popular at the school.
In addition to Gore and Hyatt, among those leading the INdTV team is:
Mark Goldman (Chief Operating Officer), who began his career at MCA
Television, where he spent five years as a senior business development
executive, negotiating license and investment agreements and developing
foreign television channels. In 1995 he was recruited by News Corp. to
build a satellite venture in Latin America. Mr. Goldman assumed the
position of President and COO of Sky Latin America Partners, securing over
$700 million in financing, building broadcast operations, and establishing
a network of local operating companies.
Among those on the company's advisory board guiding the growth of INdTV
are Steve Jobs, CEO of Apple Computer, Inc., the Silicon Valley icon who
revolutionized the computer hardware and software industry with the
invention of the personal computer, and developed Apple into one of the
world's most recognized and well-liked consumer brands; and Orville
Schell, Dean of the University of California at Berkeley School of
Journalism, an influential thought leader who has published 14 books and
over 150 articles, served as correspondent for several PBS "Frontline"
documentaries and CBS' "60 Minutes," and is the recipient of Guggenheim
and numerous writing awards.