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Century Technologies Inc. change in priorities.


FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 12, 1995--Century Technology, the Fort Lauderdale-based entertainment company which broadcasts Sports News and information through a partnership with Web Broadcasting, known as "Web SportsNet," this day announced, that they have reluctantly accepted the resignation of Patrick J. Schaffer, president of Century Entertainment Group.

Century Entertainment Group was formed to develop "Roller Sports Challenge" a TV entertainment medium.

In an effort to focus its resources on those projects which will provide a strong and quick return on investment, management opted to develop its entertainment film library as a profit center, since developments indicate the potential can be realized with a lesser investment, shorter turn around, and greater long term growth.

Century has the rights to 275 feature films, owns seven English speaking movies (some classics), and 640 Spanish language films. This is believed to be the largest Spanish film library in the U.S.

"I believe that this move will prove to put our limited capital to far greater efficient use, while reducing risk dramatically. The results of this type of thinking on the part of Century Technologies Board of Directors and Officers will definitely be reflected on the bottom line," said Guido Volante, president and chief executive officer of Century Technology Inc.

CONTACT: CHEZ' Inc., Boca Raton, Fla.

Nicole Leigh, 407/391-9427

COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Sep 12, 1995
Words:218
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