VANCOUVER, April 29, 2019 /CNW/ - Network Media
Group Inc. (TSX: NTE.V) (OTCMKTS:
NMGGF) ("Network" or "the Company") today
reported record financial results for the quarter ended
February 28, 2019 ("Q1 2019"),
including revenues of $986,248, net
income of $166,010 and Adjusted
EBITDA of $427,539.
The financial results for Network's Q1 2019 include the
following highlights:
- Revenues of $986,248 (2018 -
$158,904)
- Net income of $166,010
- $0.00 per share (2018 – net
loss of $323,488 - $0.00 per share)
- Adjusted EBITDA of $427,539 -
$0.01 per share (2018 – loss of
$60,035 - $0.00 per share)
- Continued production on two additional I
Am projects, the four-episode series on PUNK with
EPIX, the eight-episode documentary series with YouTube
Original about Artificial Intelligence, and a
documentary on Chris
Farley.
The Company's unaudited condensed interim consolidated
financial statements for February 28,
2019 are available
on www.sedar.com under the Company's
profile.
A more detailed analysis of the other components of the
Company's performance can be found in its Management Discussion and
Analysis as filed on www.sedar.com.
About Network Entertainment
Network Media Group is
the parent company of Network Entertainment Inc. Network
Entertainment, founded and headquartered in Vancouver, British Columbia, Canada, produces
premium content for global audiences. Network's documentaries and
docu-series showcase the lives of the world's most inspiring
cultural icons and their enduring legacy, featuring a compelling
lineup of icons from the worlds of Music, Movies, Comedy, Sports,
Politics and Business. The Network premium brand of programming
features outstanding casts and highly cinematic, richly crafted
storytelling. Network's productions are consistently embraced by
both audiences and critics alike, garnering awards, record ratings
and unparalleled media coverage.
Network's broadcast and distribution partners include: A&E,
AHC, AMC, Discovery Channel, CBC, CMT, CTV, Entertainment One,
EPIX, FremantleMedia, HBO Canada, History Channel, iTunes,
Lionsgate, National Geographic, Paramount Network, Spike, Sundance
TV, Thunderbird, TMN, Virgil Entertainment, and YouTube Premium.
The Company's work has been recognized by the Academy Awards, the
Emmys, Realscreen Awards, the Gemini Awards, the Leo Awards, the
Los Angeles Film Festival,
Washington D.C. Silver Docs,
Seattle International Film
Festival, Tribeca Film Festival, Hawaii International Film Festival,
Houston International Film
Festival, Vancouver International
Film Festival, Banff Television Festival, and the International
Film and Television Festival of New
York.
For additional information on Network Entertainment Inc.,
visit www.networkentertainment.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement on Forward-looking
Information
Except for historical information
contained herein, this news release contains forward-looking
statements that involve risks and uncertainties. These statements
are necessarily based upon management's perceptions, beliefs,
assumptions and expectations, as well as a number of specific
factors and assumptions that, while considered reasonable by
management of the Company as of the date of such statements, are
inherently subject to significant uncertainties and contingencies
that could result in the forward-looking information ultimately,
perhaps materially, being incorrect. All forward looking
information in this news release involve known and unknown risks,
uncertainties and other factors that are beyond the control of the
Company and may cause the actual results, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward looking information. Except as
required pursuant to applicable securities laws, the Company will
not update these forward-looking statements to reflect events or
circumstances after the date hereof.
SOURCE Network Media Group Inc.