BET HOLDINGS CLARIFIES FEES
BET HOLDINGS CLARIFIES FEES WASHINGTON, Dec. 18 /PRNewswire/ -- In a briefing for investors, BET
Holdings, Inc. (NYSE: BTV) today clarified two different cable television subscriber level calculations that apparently have been confused by some investors.
For the purpose of determining the fees that BET is paid by cable television systems for the use of its programming, BET reports the total number of subscribers of its cable system customers. At the conclusion of the first fiscal quarter ended Oct. 31, 1991, that total was approximately 29.0 million, up 6.2 percent from the 27.3 million we reported on Oct. 31, 1990. Subscriber fees are net of launch activities and are affected by fluctuations in Multiple System Operator reported subscriber totals. For the purpose of determining the rates at which BET sells commercial time in its programs to advertisers, BET uses audience estimates derived from the data compiled by the A.C. Nielsen Company. At the conclusion of the first fiscal quarter ended Oct. 31, 1991, that total was approximately 31.5 million, up 8.3 percent from the 29.1 million we reported on Oct. 31, 1990. As of July 31, 1991, the Nielsen number for BET was reported as 31.6 million. Nielsen revised downward overall cable television household numbers by about 600,000 in line with U.S. Census results. Therefore, the July 31, 1991, cable subscriber number was revised to 31.2 million. BET Holdings, Inc. operates the Black Entertainment Television Network, the nation's first and only advertiser supported basic cable network that specifically targets the viewing interests and concerns of black Americans. Cablecasting 24 hours per day, BET reaches 31.7 million subscribers in approximately 53 percent of all U.S. cable households. BET provides a broad mix of black-oriented programming either acquired or produced at the company's production facilities in Washington, D.C., and Burbank, Calif. Through BET's subsidiary, Paige Publications, Inc., the company publishes "Young Sisters and Brothers," a general lifestyle magazine aimed at black teenagers. BET also owns a 27 percent interest in ECI, the publisher of "Emerge," a black, general interest magazine. In addition, BET holds interests in a joint venture with United Image Entertainment, a production company which produces black-oriented programming, and Haricom, a black-owned advertising agency. BET Holdings Inc. is the first black majority-controlled company listed on the New York Stock Exchange. -0- 12/18/91 /CONTACT: Robert L. Johnson, president and CEO of BET Holdings, 202-337-5260, or Diana Brainerd or Christian Plunkett of The Abernathy/MacGregor Group, 212-371-5999, for BET Holdings/ (BTV) CO: BET Holdings, Inc. ST: District of Columbia IN: ENT SU: PS -- NY075 -- 3644 12/18/91 18:21 EST
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|Date:||Dec 18, 1991|
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