intends to purchase Faith TV to be re-launched and positioned as a family television network. The agreement is set to close September 30th. The purchase of the network will add additional revenue to Valcom which will integrate their existing studios, expertise in production, a film and TV library and other assets toward plans to double and then triple the network's size in the next 1-2 years.
The station currently transmits nationally on Sky Angel IPTV with delivery of more 1-million full-time and 17-million part-time direct to homes via over 65 family TV and Radio channels. Valcom is building on the future of IPTV as their research denotes a growing, and valued market. Over the next two years, the company will actively be building the network to reach its potential of 50 million homes. With a short term financial forecast of growing to 4-million full time homes by 2nd Quarter, 2009, models in this industry indicate that implementation of programming expansion typically results in doubling viewership and that when households reach 50 million the value will increase to upwards of $100-million.
Mr. Vellardita enjoys 30 years of experience the entertainment industry having turned Valcom, Inc. into an independent entertainment company having a 275 million dollar market cap in previous years. He strategically led the company in acquiring property and studios in Las Vegas, Los Angeles and Palm Springs. The entertainment studios combined consisted of 20 sound stages with back lot covering over 20 acres of land. He has been instrumental in acquiring 170 films, 10 TV series, millions of dollars of equipment and an ownership of KVPS TV Palm Springs. Valcom had maintained long-term contracts with Paramount Pictures CBS' series "JAG" and "NCIS" and Walt Disney's Sabans "Mighty Morphin Power Rangers." Having consulted with broadcasters and studios internationally he continues long-standing relationships throughout the entertainment industry. Vellardita has intent to repeat his successful formula with plans that include family programming through two new television networks.
Valcom's recent acquisition of Chameleon Communications Group assets gives Valcom valuable expertise in broadcast transmission and network operations which further secures the growth of family TV. Over the last three years Chameleon has generated over three million dollars in revenue and currently transmits two television networks covering North America. Valcom's client list consists of all of the majors such as MGM, Paramount Pictures, Warner Bros, Disney, CBS, Sony, NBC, Phantom of the Opera, HSN, and more.