Internet TV Network Launches with Canadian Technology
The new Canvid 200 Channel Internet Broadcasting Network will be launched using Canadian developed codec technology.
The service, to be called miWebTV, is designed to let users access video content in real-time from a personal computer or television set by logging into a designated web portal and then selecting the channel to watch. Video images can start be as small as 320 X 240 pixels (quarter-screen size), enlarged to full screen on a PC, or displayed as a full screen HDTV image on a television, the company describes.
"We have developed, tested and produced a television network capable of delivering full screen cable-quality images over the existing infrastructure in real time to anyone anywhere," stated Mr. Gary Saundh, President of Calgary's CSC Global Technologies. The network can deliver hundreds of channels to Internet viewers at a significantly lower cost than conventional satellite or cable systems, he added.
Under the terms of a definitive agreements reached between miNetwork Group and CSC Global Technologies Inc., miNetwork will pay a total of two million, four hundred thousand US dollars ($2,400,000.00 USD) for the exclusive global rights to the first five (5) channels. Payment of the total purchase price will be in the form of cash, common shares of miNetwork stock and future bandwidth payments as the channels are launched. This transaction is non-dilutive to the existing shareholders, as the insiders of the corporation have agreed to transfer portions of their current shareholdings in order to complete this acquisition.
miNetwork Group Inc. is an Internet based marketing and distribution company; CSC Global Technologies Inc. is a Calgary, Alberta based technology company.
"miNetwork will be announcing shortly that we will be partnering with a number of industry players to establish a video distribution center and the necessary infrastructure required to deliver video content globally to anyone with an Internet connection," stated Dan Pacholik, President and CEO of the Corporation. "The ability for our customers to create their own video content and to distribute that content to their customers, not only to watch, but to interact with in real time, is truly revolutionary," he added.
The current bandwidth and initial hardware installation will support four thousand (4,000) users, assuming each user will utilize, on average, two (2) hours of viewing per day. The video capture and broadcast infrastructure have been established to scale up the broadcast center by four thousand users for each incremental broadcast server added to the facility. The Corporation will initially place demonstration video content on the service to simply demonstrate the capability of the technology. As initial clients purchase channel capacity, the programming for specific channels will be branded to the client's specified service brand.
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