Hispanic Television Network Terminates Relationship With C-Networks, Gorriti

Apr 20, 2001, 01:00 ET from Hispanic Television Network

    FORT WORTH, Texas, April 20 /PRNewswire Interactive News Release/ --
 Hispanic Television Network (Nasdaq: HTVN), the nation's fastest growing
 Spanish-language television broadcaster announced today that it has terminated
 its relationship with C-Networks and the company's CEO, Mr. Emilio Gorritti.
     The company announced in February that it had established a relationship
 with C-Networks, a media company with interests in Latin America.  C-Networks
 failed to meet contractual obligations and in a April 16, 2001 Board of
 Directors meeting, the relationship with C-Networks was unanimously
 terminated, along with Mr. Gorriti's position as CEO of the company.
     "While we continue to believe that the combination of HTVN and C-Networks
 could have a positive impact on the company, we simply cannot endorse a
 decision to complete the transaction when the other party has not met their
 obligations," said HTVN Chairman James A. Ryffel.  "The board's decision was
 based on what we felt was in the best interest of our company and its
 shareholders.  Our duties dictate that that we preserve HTVN's rights and
 protect the interest of our shareholders.  We will continue to expand
 operations, including cable distribution, programming and affiliate agreements
 and continue to seek capitalization and strategic alternatives for the
 company."
 
     Special Note
     This press release is intended as a forward-looking statement within the
 meaning of the Private Securities Litigation Reform Act of 1995.  The risks
 and uncertainties that may affect the operations, performance, development and
 results of the Company's business include but are not limited to (I)
 technology changes in the television business, (ii) the success of the
 Company's expansion and marketing strategies, (iii) competition within the
 industry, (iv) the ability of the Company to motivate and retain the services
 of its key personnel to meet evolving staff requirements.
 
     About HTVN
     HTVN, the nation's third largest Spanish language television broadcasting
 company continues to develop and evolve into a media content and programming
 provider.  HTVN, in addition to owning, operating, and affiliating with full
 and low power television stations in key U.S. Hispanic markets, is also
 forging distribution relationships with numerous companies including AOL Time
 Warner.  HTVN continues to make great strides in growing its broadcasting
 business.  In January, 2001 the company began broadcasting to the Los Angeles
 market through its full-power affiliate KJLA.  The result for HTVN has been a
 substantial increase in revenues and a solid proving ground for its
 programming model.  The company has recently entered into agreements with
 C Channel Networks, L.L.C.  C-Channel is based in New York but owns cable
 programming channels, production studios, interactive internet portal, and a
 vast library of programming assets with Pan-American distribution rights.  The
 value of the HTVN-C Channel relationship is enhanced by HTVN's infrastructure
 in Fort Worth, Texas and its earth station license that enables it to
 broadcast up to ten digital satellite feeds at one time.  The network
 broadcasts 24 hours a day, 7 days a week, providing entertainment, news and
 socially responsible programming to Hispanics in the United States.  Utilizing
 the latest technology to reach its audience, HTVN was the first Spanish-
 language television network in the country to broadcast live 24x7 via the
 Internet.  The company, led by a management team with extensive experience and
 a proven track record in the Hispanic- and general-market television industry,
 is the first to specifically target the Mexican Hispanic market in the United
 States, unlike any other Spanish-language network.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X87172675
 
 

SOURCE Hispanic Television Network
    FORT WORTH, Texas, April 20 /PRNewswire Interactive News Release/ --
 Hispanic Television Network (Nasdaq: HTVN), the nation's fastest growing
 Spanish-language television broadcaster announced today that it has terminated
 its relationship with C-Networks and the company's CEO, Mr. Emilio Gorritti.
     The company announced in February that it had established a relationship
 with C-Networks, a media company with interests in Latin America.  C-Networks
 failed to meet contractual obligations and in a April 16, 2001 Board of
 Directors meeting, the relationship with C-Networks was unanimously
 terminated, along with Mr. Gorriti's position as CEO of the company.
     "While we continue to believe that the combination of HTVN and C-Networks
 could have a positive impact on the company, we simply cannot endorse a
 decision to complete the transaction when the other party has not met their
 obligations," said HTVN Chairman James A. Ryffel.  "The board's decision was
 based on what we felt was in the best interest of our company and its
 shareholders.  Our duties dictate that that we preserve HTVN's rights and
 protect the interest of our shareholders.  We will continue to expand
 operations, including cable distribution, programming and affiliate agreements
 and continue to seek capitalization and strategic alternatives for the
 company."
 
     Special Note
     This press release is intended as a forward-looking statement within the
 meaning of the Private Securities Litigation Reform Act of 1995.  The risks
 and uncertainties that may affect the operations, performance, development and
 results of the Company's business include but are not limited to (I)
 technology changes in the television business, (ii) the success of the
 Company's expansion and marketing strategies, (iii) competition within the
 industry, (iv) the ability of the Company to motivate and retain the services
 of its key personnel to meet evolving staff requirements.
 
     About HTVN
     HTVN, the nation's third largest Spanish language television broadcasting
 company continues to develop and evolve into a media content and programming
 provider.  HTVN, in addition to owning, operating, and affiliating with full
 and low power television stations in key U.S. Hispanic markets, is also
 forging distribution relationships with numerous companies including AOL Time
 Warner.  HTVN continues to make great strides in growing its broadcasting
 business.  In January, 2001 the company began broadcasting to the Los Angeles
 market through its full-power affiliate KJLA.  The result for HTVN has been a
 substantial increase in revenues and a solid proving ground for its
 programming model.  The company has recently entered into agreements with
 C Channel Networks, L.L.C.  C-Channel is based in New York but owns cable
 programming channels, production studios, interactive internet portal, and a
 vast library of programming assets with Pan-American distribution rights.  The
 value of the HTVN-C Channel relationship is enhanced by HTVN's infrastructure
 in Fort Worth, Texas and its earth station license that enables it to
 broadcast up to ten digital satellite feeds at one time.  The network
 broadcasts 24 hours a day, 7 days a week, providing entertainment, news and
 socially responsible programming to Hispanics in the United States.  Utilizing
 the latest technology to reach its audience, HTVN was the first Spanish-
 language television network in the country to broadcast live 24x7 via the
 Internet.  The company, led by a management team with extensive experience and
 a proven track record in the Hispanic- and general-market television industry,
 is the first to specifically target the Mexican Hispanic market in the United
 States, unlike any other Spanish-language network.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X87172675
 
 SOURCE  Hispanic Television Network