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IC Places Completes Assets Purchase of Punch Television Network

Date : 07/10/2012 @ 1:42PM
Source : PR Newswire (US)
Stock : Ic Places (QB) (ICPA)
Quote : 0.0034  0.0 (0.00%) @ 2:05AM
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IC Places Completes Assets Purchase of Punch Television Network

LOS ANGELES, July 10, 2012 /PRNewswire/ -- IC Places Inc. (OTCQB: ICPA), IC Places, Inc. is pleased to announce it has completed the purchase of the assets of the Punch Television Networks. The assets included all television station licenses, re-broadcast agreements, broadcast equipment, rights to all television shows on its roster and all current advertising contracts.

During the transition, the Punch Television Network will continue the regular broadcast schedule with the addition of the weekly half hour entertainment news show "The Hollywood Fast Lane."

"This has certainly been the biggest step in the life of IC Places," said Steven Samblis, Chairman of IC Places, Inc. "Merging new media with traditional television we extend the our brand experience to every walk of life. Capitalizing on in-home and out-of-home touch points we will now reach people from the moment they wake up until the time they fall asleep at night.  With this new immersive network, we will be able to take any advertisers needs and market them across all the demographic profiles. "

About Punch Television Networks

Launched on Wednesday, October 19, 2011, shortly after Columbus Day, Punch TV is, in many ways, also an explorer. Instead of spending the normal costs of $100 million to launch, Punch TV spent $10 million. Rather than launching by airing re-runs of popular and loved shows, Punch TV has 70% original programming.

And now, Punch TV Network extends its originality even further when in May of this year the company introduced its Fall lineup of shows to prospective advertisers and/or their representatives. The success of the Up-Front resulted in commitments of twelve million dollars in advertising dollars to Punch TV's fall line-up of shows.

At Up-Front, Punch TV Network introduce 17 of its roster of 36 new dramas, comedies, variety shows, talk shows, children's shows, and inspirational entertainment. The event was attended by a number of celebrities including Blair Underwood, Bill Duke, Dawnn Lewis, Obba Babatunde, Omar Gooding, Damian Hall, Fonzworth Bently, Kiki Shephard, Lorraine Toussaint, and many others.

Punch TV Network, with a presence this Fall in more than 100 cities, does, indeed, personify the spirit of independent television. Punch TV! "Are you thirsty yet?"

About IC Places:

IC Places is a New Media company that produces weekly entertainment content for several different mediums.  In 2012 it hit a milestone of signing partnership agreements to place its content before more then 300 million people a month, giving the company one of the largest distributions foot prints on the planet.  This foot print includes online partnerships with Mevio.com and terrestrial partnerships which delivers it's content to Checkout TV Network, HDTV Network, Dining Network, Bright House on demand and two upcoming new networks launching in July of this year.

At the core, IC Places is a network of 350 city based entertainment websites. This foundation allows IC Places the unique advantage having a built in fan based for the TV and New Media programs it produces. 

Each IC Places City website offers a virtual keyhole view of life in each community. Every unique aspect of a city's social, business, and cultural life is available right at each city's IC Places homepage. IC Places provides the entire community a place to talk, do business and get connected. Businesses are given amazing tools to tell their stories in the best way possible and visitors get unfettered access to businesses, events and people in each city. To see one of the IC Places City sites in action, please visit http://www.icPlaces.com.com/orlando.

IC Places Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information:

IC Places, Inc.

www.icplaces.com

Steven Samblis

407-442-0309 Ext. 2

Press Inquiries:

info@icplaces.com

SOURCE IC Places Inc.

Copyright 2012 PR Newswire



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