Ascent's Shared Common Play-out HD Platform Brings Flexibility, Efficiency and Cost-Savings to TV Channels
SANTA MONICA, Calif. and SINGAPORE, July 23 /PRNewswire-Asia/ -- Ascent Media Group, a leading provider of fully integrated, end-to-end services for the global digital media supply chain, today announced a multi-million dollar, multi-year deal with Li TV International Limited, to provide post production, network origination, and uplink services for Li, Asia's first regional lifestyle channel in HD on Measat.
Out of its Singapore facility, Ascent Media will provide a complete file-based workflow and fully automated play-out system in a shared network environment. Li's integrated service offering will include video tape library management, graphics, editing, and channel play-out inclusive of master control facilities, animated channel branding, subtitling, affiliate break signaling, and compliance recording. Ascent Media will also provide the HD uplink to the Measat 3 satellite.
"The TV industry in Asia is quickly evolving towards being an entirely digital operation. Our shared HD platform provides a highly cost-effective, turnkey solution that gives networks the tools necessary to evolve and expand even in today's tight economic environment," stated Jose Royo, chief executive officer of Ascent Media. "We look forward to a long working relationship with Li and are excited to be part of their much anticipated HD channel launch."
In addition to day to day support services, Ascent will also handle the management of Li's vast library of digital media and archived tape assets. To accommodate Li's expansive digital inventory, Ascent will provision a customized multi-terabyte archive storage system sufficient enough to store more than 500 hours of HD content.
Anne Chan, General Manager of LI TV comments, "Ascent Media was selected as our technical partner for their responsiveness and extensive experience in providing end-to-end HD solutions to broadcasters. Their service complements our drive to launch Li, the region's first lifestyle channel in High Definition as a true multimedia offering."
About Ascent Media Group:
Santa Monica, California-based Ascent Media Group, LLC is a wholly-owned subsidiary of Ascent Media Corporation (Nasdaq: ASCMA). With more than 40 facilities worldwide, Ascent Media Group is a leading provider of fully integrated, end-to-end services for the global digital media supply chain. Guided by our entrepreneurial culture, we blend breakthrough creative with emerging technologies to deliver some of the most advanced and innovative solutions to help film and television studios, independent producers, broadcast networks, cable channels, advertising agencies and other companies make, manage, move and monetize their digital media.
About Li:
Li, Life Inspired, is Asia's brand new, groundbreaking, 24-hour lifestyle television channel in true high definition. A first in the region, Li broadcasts pan-regionally across Asia with an expanding footprint.
Li boasts a vibrant stable of world-class-quality, first-run entertainment across five key programming pillars of Food, Home, Wellness, Travel and Style. A gatekeeper to the world of inspirational living, Li serves as a personalised 'Asian lifestyle editor' for all trend seekers.
The channel is owned by Li TV International Limited and operated by LI TV ASIA SDN. BHD., with its operating headquarters in Kuala Lumpur, Malaysia and regional operating offices in Singapore and Hong Kong.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ascent Media Corporation and its subsidiaries or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors include, among others: the risks and factors described in the statements and reports of Ascent Media Corporation filed or furnished with the Securities and Exchange Commission (and publicly available at the Securities and Exchange Commission's website, www.sec.gov); general economic and business conditions and industry trends; spending on television advertising, first-run content libraries and existing content libraries; the regulatory and competitive environment of the industries in which Ascent Media Corporation operates; rapid technological changes; future financial performance, including availability, terms and deployment of capital; changes in, or failure to comply with, government regulations, including, without limitation, regulations of the Federal Communications Commission, and adverse outcomes from regulatory proceedings; and competitor responses to Ascent Media Corporation's products and services, and the overall market acceptance of such products and services, including acceptance of the pricing of such products and services. These forward-looking statements speak only as of the date of this Release. Ascent Media Corporation expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Ascent Media Corporation's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
