Falcon Entertainment Corp. (Falcon) is a diversified entertainment company that broadcasts music videos of amateur and professional artists over cable and direct satellite television on its television channel, IMNTV, and that webcasts those videos over the Internet through its web site, www.IMNTV.com. The Company also operates a record label, InVision Records, and intends to commence operations of a second record label, Ecity Records. Through these labels, the Company intends to produce and mass market the music of artists and bands, including certain of those who submit videos for broadcast over IMNTV. Falcon further intends to develop its web site into a web portal to promote the Company’s products and services, promote the musicians signed to its record labels, provide music news and related informational services, and provide links to related web sites.
The Company was incorporated in March 1986 under the name AVTR Systems, Inc. In April 1999 the Company changed its name to Independent Music Group, Inc., and in December 1999 it changed its name to Falcon Entertainment Corp. In April 1999, the Company acquired Independent Music Network, Inc. The Company began broadcasting music videos of independent artists over its television channel, Independent Music Network (IMNTV), on June 1, 2000. Through an agreement with Yahoo! Inc., IMNTV’s programming is simulcast over the Internet. Independent Music Network’s programming currently consists of a variety of music video content packaged into 1/2-hour segments, each including approximately seven music videos. Independent Music Network’s programming is presently being broadcast in the Miami, Florida; Orlando, Florida; Norfolk, Virginia; Los Angeles, California and San Diego, California television markets and other limited national television markets to a subscriber base of approximately 2,325,000 households.
The Company intends to continually increase the length and quality of IMNTV’s programming; expand the size and number of broadcast markets in which its programming is available; begin selling advertising time during its broadcasts; and build a music and entertainment based web portal that supports its television broadcasting activities. Based on Gallup and RIAA statistics, the Company believes that a large number of amateur musicians will attempt to air their music videos on IMNTV and that the wide population of amateur musicians constitutes a ready-made audience for this programming. The Company expects to derive revenues by selling advertising time during its broadcasts. IMNTV currently airs music videos submitted by independent artists and bands, as well as videos provided by major and independent record labels. After videos are screened for acceptable broadcast content and are professionally packaged and edited, they are broadcast on IMNTV and are simultaneously webcast on IMNTV. com and Yahoo! Broadcast.
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