5th Avenue Channel Announces Agreement With TeleVend.NORTH MIAMI North Miami, city (1990 pop. 49,998), Dade co., SE Fla., a growing suburb of Miami, on Biscayne Bay; inc. 1926. It is mainly residential, but has considerable retail development. Manufactures include boats, wooden furniture, and aluminum products. , Fla.--(BUSINESS WIRE)--Nov. 1, 1999-- 5th Avenue Channel Corp. (Nasdaq: FAVE fave Informal n. One that is preferred above others or likely to win; a favorite. adj. Favorite. [Short for favorite.] ) today announced the signing of an agreement with TeleVend Inc., an Israeli network The Israeli Network (Hebrew: הערוץ הישארלי) is an international private television network, owned by Arnon Milchan. service provider. Under terms of the agreement, TeleVend will design and produce interactive Internet kiosks for 5th Avenue Channel's test market program. Such Internet kiosks will provide access to 5th Avenue Channel's proprietary financial information via the Company's web site, powered by Zacks Investment Research Zacks Investment Research A firm that compiles earnings estimates and brokerage firm investment recommendations for thousands of publicly traded firms. . Further, a kiosk user will receive access to the broad range of services expected to be offered on 5th Avenue Channel's web site such as mortgage and insurance services, online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. and tax preparation, and coupons and gift certificates tailored to the consumer accessing the kiosk. The consumer will be offered several payment arrangements for any services or products they purchase, including charging it to a wireless phone account. TeleVend's founder, Gedaliah Gurfein, said, "TeleVend's innovative technology coupled with 5th Avenue Channel's content will offer a way for consumers to have access to needed financial information and updated news geared to their personal stock portfolios when they are away from their homes and offices. TeleVend will be designing 5th Avenue Channel's kiosks to have Palm Pilot and other PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). access and interactivity, as well as capability to award customer discounts and coupons correlating to user profile and location." Mel Rosen, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 5th Avenue Channel Corp., stated, "If the functionality and usage tests of 5th Avenue Channel's Internet kiosk perform as anticipated, 5th Avenue will have together with TeleVend created a unique and creative outlet for 5th Avenue's content while creating potential new revenue streams for the Company." Rosen concluded, "We are looking forward to working with TeleVend and transforming our vision into a product over the next several months to further address the full-time worldwide demand for information." Established in 1998, TeleVend is a provider of reliable, flexible and feature-rich enhanced network service platforms and applications using telecommunications, wireless, infrared and Internet technologies. 5th Avenue Channel Corp. intends to utilize the convergence of the Internet and television to market financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and unique and high quality products to educated and informed consumers. The Company runs 5thavenuechannel.com, its website for the acquisition and enjoyment of wealth, and is developing the 5th Avenue Financial Television/Internet Network in conjunction with Zacks Investment Research. The Company operates its Sales Division, which markets 5th Avenue's exclusive products to other websites, home shopping Home Shopping commonly refers to the electronic retailing / home shopping channels industry, which includes such billion dollar companies as HSN, QVC, eBay, ShopNBC, Buy.com, and Amazon.com. television channels and retail chains, as well as wireless cable television systems in Costa Rica and Wisconsin. This news release contains forward-looking statements. 5th Avenue Channel's actual results may differ materially from the results discussed, implied or forecasted in the forward-looking statements. Further information on the factors that could affect the actual results of 5th Avenue Channel Corp. are included in its Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1998, which is on file with the Securities and Exchange Commission. 5th Avenue Channel Corp. assumes no obligation to revise or update any forward-looking statements contained in this news release. |
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