September 16, 2009 08:30 ET

WENR Corporation Announces Lease of Second Television Channel

SALT LAKE CITY, UT--(Marketwire - September 16, 2009) - WENR Corp. (PINKSHEETS: WNRC), is pleased to announce the leasing of a second television station. Ngensolutions LLC, current owner of Channel 43 KELM-LP in Reno, Nevada, has agreed to purchase a second television station, Channel 25 KRRI-LP also in Reno, Nevada. The second television station will also be leased to WENR Corp. The Company is finalizing the lease agreement for KELM-LP television channel. WENR has not decided on content for the second station. The transfer of the license to Ngensolutions will take approximately 60 days. Terms were not disclosed.

The content of the channel will be owned by WENR Corp. and a lease payment made to Ngensolutions LLC. Dan Green, President of WENR Corp., is also a manager of Ngensolutions LLC.

The Company is developing a financial oriented network with a focus on small-cap, bulletin board and pink sheet companies for KELM-LP. The focus of the channel will be to profile small-cap companies using their own promotional footage with in-studio interviews. The Company is in discussions with studios in the Los Angeles, Reno and Las Vegas areas to contract studio facilities for programming on an interim basis. Ultimately the Company plans to develop the base of operations in Las Vegas, Nevada.

The Company has preliminary commitments from three cable operators to broadcast the KELM-LP programming on their respective basic line-ups. This will be at no cost to the Company. The Company anticipates the second channel will also be carried on these cable systems. Further the cable operators will sell advertising, which will be shared with the Company.

Lawsuit Update

In the last news release (September 10, 2009) the Company stated it had signed a "Preliminary" settlement agreement with a lawsuit. This was in error. The Settlement Agreement was final and approved by the judge. The lawsuit was dismissed with prejudice on August 26, 2009. See for the final documentation.

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 Information

  • Contact:
    WENR Corporation
    Dan Green