BOULDER, Colo., April 5, 2012 /PRNewswire/ -- New Frontier Media, Inc. (NasdaqGS: NOOF), a leading provider of transactional television services and distributor of general motion picture entertainment, today announced a new content and development agreement with Bluebird Films, an industry leader in global content production with studios in London, Prague and Las Vegas. The content is expected to be provided worldwide to cable and satellite operators for distribution through New Frontier Media's TEN®, or The Erotic Networks®, 15 pay-per-view channels and video-on-demand services. The agreement includes a commitment from Bluebird to develop and produce 250 hours of original content beginning in April 2012 that will initially be provided exclusively to New Frontier Media's worldwide cable and satellite customers. Additionally, over 2,500 high-definition scenes from Bluebird's existing library will be available for worldwide distribution. The agreement also includes an option to acquire up to 900 additional, to be produced scenes over a three year term.
Matthew McClelen, Vice President of Worldwide Programming for New Frontier Media, stated, "The execution of this agreement represents the continuation of our commitment to provide our cable and satellite partners with the highest quality content available. Based on recent and historical primary consumer research, we believe the Bluebird content and distribution agreement will provide consumers with a never before seen unique and exciting experience."
Nicholas Steele, Chief Executive Officer of Bluebird Films, stated "TEN® has been the leader in the broadcast space for years. It's a great honor to be partnering with them to provide consumers with high quality original product. We believe we are up to the challenge of delivering new and unique content that will make a difference."
About New Frontier Media, Inc.
New Frontier Media, Inc. is a provider of transactional television services and a distributor of general motion picture entertainment. Our Transactional TV segment distributes adult content to cable and satellite providers who then distribute the content to retail consumers via video-on-demand (VOD) and pay-per-view (PPV) technology. Programming originates from our state of the art digital broadcast infrastructure in Boulder, Colorado. We obtain our programming primarily by licensing content distribution rights from movie studios, and we distribute new and unique programming in order to provide consumers with an exceptional viewing experience.
Our Film Production segment is a distributor of mainstream and erotic films. The films are distributed to cable and satellite operators, premium movie channel providers and other content distributors. We act as a sales agent for mainstream films and produce erotic films. The segment also periodically provides contract film production services to major Hollywood studios.
We are headquartered in Boulder, Colorado, and our common stock is listed on the Nasdaq Global Select Market under the symbol "NOOF." For more information about New Frontier Media, Inc., contact Grant Williams, Chief Financial Officer, at (303) 444-0900, extension 2185, and please visit our web site at www.noof.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "demonstrate," "expect," "estimate," "anticipate," "should" and "likely" and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Forward-looking statements contained in this release may relate to, but are not limited to, statements regarding the review by New Frontier Media's special committee of independent directors of potential strategic alternatives, the timing of such review, and the outcome of such review. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, the risks detailed in New Frontier Media's filings with the Securities and Exchange Commission, including its most recent filings on Form 10-K and Form 10-Q , or in information disclosed in public conference calls, the date and time of which are released beforehand. New Frontier Media is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.
SOURCE New Frontier Media, Inc.