NBC Universal, ShopNBC Agree to Extend Trademark License for 1 Year
19 November 2010 - 12:30AM
Marketwired
ShopNBC (NASDAQ: VVTV), the premium lifestyle brand in multi-media
retailing, today announced a one-year extension of its license
agreement with NBC Universal, Inc. ("NBCU") for use of the ShopNBC
brand related to its television shopping network and its e-commerce
websites www.ShopNBC.com and www.ShopNBC.tv. The license agreement,
which was to expire in May 2011, has been extended to May 2012.
As consideration to NBCU for the license extension, the Company
will issue common stock in May of 2011 valued at $4 million.
Additionally, the agreement allows for a 1-year extension to May
2013 upon the mutual agreement of both parties.
"We are pleased to have extended our use of the NBC trademark
for another year," said Keith Stewart, ShopNBC CEO. "Our ability to
continue leveraging this well-known brand will allow our
experienced multi-channel team to remain focused on our company
goals of consistent profitability and long-term sustained growth.
We are grateful to our partner and shareholder, NBCU, for their
ongoing support."
About ShopNBC ShopNBC is a multi-media
retailer operating with a premium lifestyle brand. Over 1 million
customers benefit from ShopNBC as an authority and destination in
the categories of home, electronics, beauty, health, fitness,
fashion, jewelry and watches. As part of the company's "ShopNBC
Anywhere" initiative, customers can interact and shop via cable and
satellite TV in 76 million homes (DISH Network channels 134 and
228; DIRECTV channel 316); mobile devices including iPhone,
BlackBerry and Droid; online at www.ShopNBC.com; live streaming at
www.ShopNBC.TV; and social networking sites Facebook, Twitter and
YouTube. ShopNBC is owned and operated by ValueVision Media
(NASDAQ: VVTV). For more information, please visit
www.ShopNBC.com/IR.
Forward-Looking Information This release
contains certain "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and
accordingly are subject to uncertainty and changes in
circumstances. Actual results may vary materially from the
expectations contained herein due to various important factors,
including (but not limited to): consumer spending and debt levels;
interest rates; competitive pressures on sales, pricing and gross
profit margins; the level of cable and satellite distribution for
the company's programming and the fees associated therewith; the
success of the company's e-commerce and new sales initiatives; the
success of its strategic alliances and relationships; the ability
of the company to manage its operating expenses successfully; the
ability of the Company to establish and maintain acceptable
commercial terms with third party vendors and other third parties
with whom the Company has contractual relationships; changes in
governmental or regulatory requirements; litigation or governmental
proceedings affecting the company's operations; and the ability of
the company to obtain and retain key executives and employees. More
detailed information about those factors is set forth in the
company's filings with the Securities and Exchange Commission,
including the company's annual report on Form 10-K, quarterly
reports on Form 10-Q, and current reports on Form 8-K. The company
is under no obligation (and expressly disclaims any such
obligation) to update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
Contact Information: Investor/Media Relations Anthony
Giombetti agiombetti@shopnbc.com 612-308-1190 Investor
Relations Norberto Aja & David Collins vvtv@jcir.com
212-835-8500
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