TFN, The Football Network, Inc. (OTC Pink Sheets: TFNK) announces that founder and president Jantonio Turner has completed a reorganization and revitalization plan aimed at resurrecting the company he once founded. “Since regaining control of the company and returning to the position of president for the company at the end of 1997, I have been working diligently to reposition the company to capitalize on what I think still was one of the greatest business opportunities of this century. The business world and economic environment have shifted tremendously and as a result TFNK will evolve into a form that will exist to capitalize on different money making opportunities in the same and similar spaces,” commented Turner.
Founded by Turner in 1996, TFN was the first official and national attempt at the creation of a national cable and satellite television network totally dedicated to America's favorite spectator sport, football. “When I came up with the idea for TFN in 1996, I had no idea what I was in for with a dream that big. Through the assistance of many individuals, organizations and the football community, I was able to see my dream come to life over the next years as I laid brick by brick the foundation America needed to have football on television 24 hours a day 7 days a week. When I first contacted the NFL, Val Pinchbeck who was then the head of television said to me that people laughed at Bill Rasmussen when he first talked about his project, ESPN, and look at how well it had done.”
Over the years after its founding, TFN did hire the consultants who had done the business plan behind the successful Golf Channel's launch, did create two national television series for SpikeTV, created television specials for USA Network, created its own radio network, and eventually, with help from the State of Louisiana did launch its national television network. “All was not easy,” remarks Turner, “Financing $100 million deals is never easy and TFN fell victim to broken financial commitments from investment bankers and a market that was starting to show the signs of weakness that would later manifest itself more recently in the collapse of the financial markets. Even though I was no longer president, I think TFN also fell victim to extraordinarily high expectations due to the strength of my idea and as a result the management in charge was forced to over-expand and to ramp up before all of the financing was completely secured.”
Turner never gave up on the idea. “There was a time when we owned 100% of nothing, but I never stopped believing that this company could be salvaged and turned around. I am a long way from home, but the elements to effect a turn around are coming into play. I have discussed my intentions with the major shareholders, and with the help of our major creditors, the advertisers we have new relationships with, and with the investment community, we will evolve to create TFN in the way that will attain viability in the future.”
“We have a new website that we are in final testing of that will be released shortly, we have new advertiser relationships, we have a term sheet for major financing and other funding opportunities, we have new economic opportunities that we are developing and we have new consulting in place that will guide the new build out of the company while protecting our interests in our funding. I think back to my early days in TFN when I made up a saying about persistence, 'If you have a goal and you will continue to make even the smallest steps towards it each day, you will, by definition eventually make it there.' TFN will make it, at its core was an idea too strong, and now with evolution, it will continue to seek viability for itself and all who have believed,” concluded Turner.
TFN, The Football Network, which has stock with the symbol TFNK that can be publicly traded is a multimedia entertainment based company.
Statements about the Company's future expectations, including future revenue and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such forward-looking statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
TFN, The Football Network, Inc.
2711 Centerville Rd, Ste 400, Wilmington, DE 19808
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