Under the Symbol LTVI
CORAL SPRINGS, Fla., Feb. 9 - Hoping to deliver fresh programming to an underserved segment of the Hispanic television audience, New LTV Acquisition, LLC announced today the creation of Latin Television, Inc., which will trade on the NASDAQ/Pink Sheets stock exchange under the symbol LTVI. Latin Television, Inc. is the surviving company of a merger between LTV Networks, Inc. and Mega Mania Interactive, Inc., a partnership that advances Latin Television, Inc.'s goal of becoming the third largest Spanish-language television network in the United States.
Initially founded in January of 1999 as LTV Networks, Inc., Latin Television, Inc. is a Spanish-language media company targeting the 18 to 39 year-old United States Hispanic market. Through a combination of Spanish- language original programming, movies, sports, news, and entertainment programs aimed at a heretofore untapped demographic, Latin Television, Inc. intends to change the way young Hispanic Americans perceive Latin television and entertainment. Latin Television, Inc. has a cable footprint, which covers approximately 25 percent of the U.S. Hispanic market and is currently seen on nearly every major cable system in the United States.
"We are extremely gratified to gain public company status and are excited about the avenues now open to Latin Television, Inc., as we endeavor to provide fresh, exciting content to an underserved television audience," said Randall S. Appel, President and CEO of Latin Television, Inc. "We believe this is a dynamic, growth industry, and it is our goal to become the third largest Hispanic network in the U.S."
About Latin Television, Inc.:
Latin Television, Inc. is the surviving company of the merger between New LTV Acquisition, LLC and Mega Mania Interactive, Inc. Founded in January of 1999, LTV appears in 12.5 million homes and is in negotiations with more than 20 separate Hispanic television stations interested in affiliate relationships. LTV is currently seen on every major cable system in the United States, with the exception of Time Warner.
Randall S. Appel is the President and Chief Executive Officer of Latin Television, Inc. and is joined by officers Luis F. Baraldi, Chief Operating Officer, and Hans Jonas Petterson, Executive Vice Chairman.
Mr. Appel had served as a director of LTV Networks, Inc. since its inception and has more than 18 years of financial planning and broker dealer experience. The successful merger with Mega Mania Interactive, Inc. is a primary example of Mr. Appel's deal-making acumen, honed during his 14-year tenure with Monsanto Company in St. Louis and New York City. Mr. Appel was also responsible for the initial and interim funding of American International Telephone, Inc., which was acquired by a major European telephone company within three years of its formation.
Mr. Baraldi was previously the Director of Programming and Acquisitions at DIRECTV, where he was responsible for the development of Programming and packaging of all sports events and programs shown on DIRECTV's Latin American service. As the Executive Vice President of Production, Programming, and Operations for PSN Latin America, Mr. Baraldi was responsible for the development of programming of all sports events and programs shown on PSN Latin America. In 1980, Mr. Baraldi co-founded the Baral Group, one of the most successful media companies in Mexico.
Latin Television, Inc. Board of Directors:
Latin Television, Inc. is proud to welcome Alan Elkin and Manuel Arvesu to its Board of Directors. Mr. Elkin is currently the CEO of Active International, the seventh largest media buying company in the world, with sales in excess of $1 billion per year. Active International brings its impressive client roster to Latin Television, Inc., providing access to many of the largest advertisers in the world. Mr. Arvesu is a Senior Partner of Arvesu and Associates, a well-established law firm in the Latin television industry.
For more information about Latin Television, Inc., please visit http://www.LTVTV.com or contact IR@LTVTV.com for investor relations inquiries.
Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that involve substantial risks and uncertainties. When used in this press release and in any documents incorporated by reference herein, the words "expects," "will" and similar expressions identify certain of such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of LTV and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond LTV's control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive, and other factors affecting the Company and its operations; and other risk factors. LTV cautions that the foregoing factors are not exclusive. LTV assumes no obligation to update the information contained in this press release.
