SOURCE: Public Media Works

May 19, 2008 04:00 ET

Public Media Works to Form Web-Based Entertainment Subsidiary

VAN NUYS, CA--(Marketwire - May 19, 2008) - Public Media Works, Inc. (OTCBB: PUBM), a film, music and television entertainment and digital media company, announced today that it is forming a new operating subsidiary 'Public Web Works' to house its forthcoming interactive, web-based, entertainment content submission, collaboration and production business.

"The company is making a transformation from being strictly a film and television production company into a unique entertainment property with both traditional media and web based components," stated Company CEO Al Hayes. "The concept is to provide a vehicle for the worldwide submission of content in the form of film trailers, film and television scripts and treatments, songs and music, and short story and book proposals for initial screening by peer review. The highest rated content would be further reviewed by panels of professional advisors each of whom will be renowned in their field. The business model will allow untapped talent to gain global exposure and the very real possibility of landing commercial contracts to exploit their creative works. We envision a cross between an on-line 'American Idol' and the 'golden age' of the studio where content is developed, produced and distributed through a single set of inter-related business entities. Our commercial partners will be entertainment industry innovators and our panels of expert advisors will represent a cross section of heavyweights from their genre."

Public Media Works' CTO Rusty Lewis, formerly a key technical architect and senior business executive with such firms as McKesson Corporation, Amerisource Bergen Technology Group, Ameritech Health Connections and Texas Instruments, will oversee the development of the business model and the web platform. "Public Web Works plans to build its platform using a multi-phase approach," added Lewis. "Initially we will launch a 'beta' website which will allow us to fine tune our marketing approach and to refine and test key elements of the business model. We believe that we will be able to monetize this preliminary site through advertising sponsorships. This will lead us into the second phase where we will introduce a more featured rich website capable of delivering on the full promise of our business model incorporating a wide range of monetization strategies."

Public Web Works will allow Public Media Works to fulfill its promise of bringing together undiscovered talent and working professional film makers, producers, musicians, writers and authors. Through its website it will display content from aspiring professionals. The best work will rise to the top through a series of escalating challenges and be selected for review by genre specific professional panels. The 'cream of the cream' may be selected to meet with the panels, sign commercial contracts or to even work professionally with panel members or their production companies. Future possibilities include webcast events, commercial releases through the website and even a television production in the vein of 'American Idol.'

ABOUT PUBLIC MEDIA WORKS

Public Media Works is unique in the world of publicly traded companies operating in the diversified entertainment segment. Managed by a team of working filmmakers, entertainment industry professionals and seasoned technologists, the company brings together the golden age of film and the new age of the web by identifying untapped resources of talent and content and massaging those elements into professional entertainment products. Through its subsidiary Public Web Works the company seeks out raw content in the form of film concepts, trailers, scripts, treatments, music and book proposals which it then acquires or licenses for further development and distribution as finished product to be sold to specifically targeted, fan-based audiences. Submitted content is screened by peer review and a team of industry advisors who will select top submissions for further professional development. For more information visit www.publicmediaworks.com.

Statements included with this press release, which are not historical in nature, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Such statements are indicated by words or phrases such as "anticipate," "estimate," "projects," "believes," "intends," "expects" and similar words and phrases. The following are important factors that could cause Public Media Works actual results to differ materially from those expressed or implied by such forward looking statements: the company's need to raise substantial additional financing; the company's ability to extend its cash resources and to implement one or more strategic alternatives; the company's ability to attract and retain development and production talent; the company's ability to create marketable products and services for the entertainment segment; the highly uncertain and competitive nature of the entertainment industry; the company's history of operating losses and the unproven nature of its web and digital media business models; the company's dependence on third-parties; and other economic, business, competitive and governmental and/or regulatory risks detailed in the Company's filings with the Securities and Exchange Commission. Actual results may differ materially from the company's expectations and estimates.

Contact Information

  • News Media/Investor Relations Contact:
    Al Hayes
    818-904-9029