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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 15(d) of the Securities Exchange Act of 1934.
Date of Report (Date of earliest event reported): April 16, 1999.
NEW FRONTIER MEDIA, INC.
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(Exact name of registrant as specified in its charter)
Colorado 333-59289 84-1084061
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(State of (Commission File (IRS Employer I.D.
Incorporation) Number) Number)
5435 Airport Blvd., Suite 100
Boulder, Colorado 80301
(303) 444-0632
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(Address and telephone number of
principal executive offices)
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Item 5. Other Events.
On February 16, 1999, New Frontier Media, Inc. (the "Company") announced
that it has executed a License Agreement with Pleasure Productions to acquire
broadcast and electronic distribution rights, including subscription and
pay-per-view television, video-on-demand and internet rights, to Pleasure's
approximately 4,000 title adult film and video library, including its recently
acquired Western Visual titles.
Item 8. Exhibits.
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99 Press Release
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
NEW FRONTIER MEDIA, INC.
(Registrant)
February 17, 1999 By: /S/ MARK H. KRELOFF
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Mark H. Kreloff, Chief Executive
Officer
February 17, 1999 By: /S/ MICHAEL WEINER
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Michael Weiner, Executive Vice
President
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EXHIBIT INDEX
Exhibit No. Exhibit Page
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99 Press Release 5
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FOR IMMEDIATE RELEASE
FEBRUARY 16, 1999
NEW FRONTIER MEDIA, INC. ANNOUNCES CONTENT LICENSE WITH PLEASURE PRODUCTIONS
Company acquires "broadcast and electronic distribution rights, including
Subscription and Pay-Per-View Television, Video-On-Demand,
and Internet rights" to 4,000 title adult library
Boulder, Colorado - New Frontier Media, Inc. (NASDAQ:NOOF) announced today that
it has executed a definitive License Agreement with Pleasure Productions
("Pleasure") to acquire all broadcast (cable television and DBS), Internet and
other electronic distribution rights to Pleasure's approximately 4,000 title
adult film and video library including its recently acquired Western Visuals
titles. In addition, the License Agreement provides for New Frontier Media to
receive current and future programming considerations for a period of five years
with renewal provisions. Based in Hightstown, New Jersey, Pleasure Productions
is one of the world's largest producers and distributors of adult programming
and products. Pleasure's award winning adult movie library includes the 1999
Adult Video News ("AVN") film of the year "Looker", and numerous other award
winning features including "Phoenix Rising" (nine AVN award nominations). In
addition, Pleasure maintains exclusive relationships with industry leading
directors such as Nic Cramer, AVN's 1998 Director of the Year.
The License Agreement calls for New Frontier Media, Inc. to issue 700,000 shares
of common stock and 700,000 warrants to purchase shares of New Frontier Media
stock in exchange for broadcast and electronic distribution rights to Pleasure's
4,000 title library. Broadcast and electronic rights include subscription
television, pay -per-view television, video-on-demand, and Internet rights. In
addition, a representative of Pleasure has agreed to join New Frontier Media's
Board of Directors.
"Pleasure's award winning library solidifies our programming requirements for
our four television networks and gives our Company a huge competitive advantage
in terms of content quality, depth and breadth over our Pay-TV and subscription
television rivals," commented Mark Kreloff, Chairman and Chief Executive Officer
of New Frontier Media, Inc. "We plan to quickly incorporate Pleasure's library
into the programming of our existing four networks and our "dial-up" and
Broadband Internet products."
"New Frontier Media and Pleasure Productions are a perfect synergistic fit,"
commented Michael Koretsky, President of Pleasure Productions. "Pleasure's
strong content development expertise coupled with New Frontier's broadcasting
and Internet expertise will prove to be a dynamic combination in electronic
media," added Koretsky.
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"Our Broadband Internet and video-on-demand service, which is scheduled for a
June, 1999 launch, will be greatly enhanced by Pleasure's library," commented
Thomas Nyiri, Vice President and General Manager of New Frontier Media. "Our new
systems will be able to deliver over 10,000 hours of recorded video on demand,
in broadcast quality, to high-speed Internet connections such as those offered
by cable television, DBS providers and telephone companies," added Nyiri.
Headquartered in Boulder, Colorado, New Frontier Media, Inc. is a diversified
entertainment company that is primarily engaged in the electronic distribution
of adult entertainment content through subscription/pay-per-view television and
the Internet.
The statements contained in this release which are not historical facts are
forward-looking statements that are subject to risks and uncertainties,
including those risks detailed in the Company's Securities and Exchange
Commission filings that could cause actual results to differ materially from
those set forth in or implied by forward-looking statements.
CONTACT:
New Frontier Media, Inc.
Mark Kreloff, 303/444-0900
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