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WENR Corp. Announces Intent to License Softorbit’s Library LOS ANGELES, August 19, 2004 (BUSINESS WIRE) – WENR Corporation (OTC: WNRC) (wenr.net), announced that it has signed a letter of intent to license Softorbit’s entire film library. Previously the Company announced that it intended to acquire a limited library from Softorbit that amounted to approximately 1,500 titles for cash. However the company recognized that there is far greater potential in acquiring access to all of Softorbit’s library and integrating Softorbit into the WENR family. The Company has begun this process, and expects a successful conclusion in the very near future. Terms were not disclosed. Softorbit controls an extensive film, television, educational, documentary and classic music video library incorporating over 15,000 titles. Along with its vast content library, it has editing and authoring facilities as well as distribution facilities. Softorbit delivers film and stock footage through its existing distribution channels in the form of video and DVD’s. It also delivers digital content via the Internet for Video on Demand (VOD) with its state of the art streaming technology for broadband events. The letter of intent calls for WENR to set up a new subsidiary whereby the executives, Michael Elliot and Chaba Mehes of Softorbit would become officers in the wholly owned subsidiary. Furthermore, both Elliot and Mehes along with Dan Green will make up the board of directors of the subsidiary. WENR Corp. will provide the newly formed subsidiary with resources for marketing through the Internet and television advertising to increase revenue and exposure of the content licensed from Softorbit. WENR is a holding company that acquires technology and technology companies. It provides senior management assistance for product and market development and secures working capital. The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized. Contact: |
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