ENRON EXPANDING ENTERTAINMENT ON-DEMAND SERVICE: TERMINATES EXCLUSIVE RELATIONSHIP WITH BLOCKBUSTER INC.
FOR IMMEDIATE RELEASE: Friday, March 9, 2001
HOUSTON -- Enron Broadband Services, a wholly owned subsidiary of Enron Corp., announced today that it has terminated its exclusive relationship with Blockbuster Inc., and will expand its entertainment on-demand (EOD) offering by developing direct relationships with multiple content providers and broadband distribution providers. Enron has developed a global, end-to-end platform to deliver a wide variety of secure, on-demand entertainment to the television, including movies, games, television programming and music.
“The exclusive relationship has not yielded the quantity and quality of movies needed to drive demand for this exciting new on-demand service,” said Kenneth D. Rice, Enron Broadband Services chairman and CEO. “We validated our ability to deliver content on-demand through the trial, and now Enron wants to take our service to the next level by adding content and subscribers on an accelerated basis.”
Enron intends to initiate discussions with various content providers for delivering their content over the Enron platform. In addition to streaming movies to the television, Enron is working on agreements to deliver games, television programming and music via the Enron Intelligent Network.
Enron expects that the four-city trial of the service with Blockbuster currently underway in Seattle, Portland, Ore., Salt Lake City and New York will continue throughout the trial period.
Enron Broadband Services is a leading provider of high quality, high bandwidth delivery and application services. The company's business model combines the power of the Enron Intelligent Network, Enron's Broadband Operating System, bandwidth trading and intermediation services, and high-bandwidth applications. Enron Broadband Services can be found on the Web at www.enron.net.
Enron is one of the world's leading electricity, natural gas and communications companies. The company, with revenues of $101 billion in 2000, markets electricity and natural gas, delivers physical commodities and financial and risk management services to customers around the world, and has developed an intelligent network platform to facilitate online business. Fortune magazine has named Enron "America's Most Innovative Company" for six consecutive years. Enron's Internet address is www.enron.com. The stock is traded under the ticker symbol "ENE."
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