Exhibit 99
News Release
Urban Televison Network Corporation
2707 South Cooper, Suite 119
Arlington, Texas 76015
FOR IMMEDIATE RELEASE
Teresa Lomas
(817) 303-7449
Urban Television Network Corporation (URBT) Releases 2005 Business Update on
Progress to Date Toward Improving the Company's Outlook
CEO Reports on First Ninety Days of Extreme Makeover of the Company, Its
Strategic Direction, Revenue Model, Programming and Branding Initiative
Dear Fellow Shareholders,
On May 24, 2005, the Company announced my taking the leadership helm as CEO. The
extreme makeover is well under way. The new look began with our logo and new web
site www.uatvn.com. Our business model is intended to build assets and revenue
from areas that directly and positively impact the future prospects of our
target viewers and customers.
Our viewers are African Americans and English speaking Hispanics, the emerging
majority. The emerging majority is the focus of all of our efforts. The
commonality between English speaking Hispanics, the general market, and the
trend leading African Americans represents the sweet spot for targeting our
programming and brand positioning. Our planned customers are Fortune 500
corporations.
The first ninety days have not been easy. It has taken a lot of hard work by
some very good people to get us where we are today - Urban is the only minority
certified television network composed of broadcast television station affiliates
across the country that air programming supplied by your network's satellite
transmission distribution system.
We are particularly excited about the inroads we have made on our three areas of
focus:
1. Assets/Revenue - We are in the process of making presentations to
Fortune 500 companies. We are discussing several asset-building
strategies. We will keep you apprised of our progress.
2. Measurable Distribution - Full Power stations are our new focus. We
have begun discussions with several independent full power stations and
several large station groups to increase our affiliate base. In fact,
as announced previously, we have recently added several new affiliates.
We have also begun discussions with Nielsen Media Research regarding
partnering with us in reaching and measuring urban viewers, the
emerging majority.
3. Programming - Our programming has changed to reflect our new
positioning, led by our EVP Network Programming, Ms. Sandra Pate,
formerly with the Fox Network. We are planning new interactive
programming to complement our existing interactive programming. We are
in the final stages of planning the launch of the network along with
several signature original shows. We are planning that launch for the
first half of 2006.
We believe that if we focus on the fundamentals as noted above we will begin to
achieve the revenue numbers and ratios that will lead the market to recognize
our company as a leader in the urban TV marketplace.
What is Urban?
Urban is a lifestyle that follows the trends set by African Americans who
strongly influence fashion, music, language and general market buying habits. It
is a diversity of cultures, the majority of which are married with large
families. They watch more TV than the national average and are very responsive
to marketing messages.
What is urban America?
Predominately African Americans and Hispanics, it also includes Asians, Multi-
Cultural and other Americans. Urban America is the future new majority
Why target urban America?
Buying Power is well in excess of $1 trillion and growing rapidly.
Why do you believe that Fortune 500 companies will buy your advertising?
Planned Nielsen rated programming. Our programming reflects the true diversity
of life in America.
One stop shopping for their minority dollars.
We are certified by the National Minority Supplier Development Council.
What is the long-term plan for Urban Television Network Corporation?
URBT's business model of combining Nielsen ratings (supplemented with
interactive feedback from viewers) with urban programming and Fortune 500
companies is not difficult to understand. Performance, meaning revenue growth
and profits, is at the core of our long-term efforts. URBT has a relatively
large shareholder base. This shareholder base is predominately retail, made up
largely of individual investors versus institutional investors such as pension
funds, mutual funds and insurance companies. Institutional investors typically
buy and hold larger numbers of shares for longer periods of time than retail
investors, which have a higher ratio of traders. It is important that over the
long term we appeal to these institutional investors.
Performance and recognition by industry analysts will help to build
institutional investment recognition. However, institutional investors are not
permitted by their own mandates and investment charters to invest in over the
counter stocks. Accordingly, it is important that we move to a national exchange
where institutional investors will be permitted to purchase the Company's stock
and build large positions as a part of their overall portfolio.
URBT is planning to move toward a national exchange listing. In addition to
planning for revenue and asset value growth, we plan to update the company's
regulatory filings, accounting footnotes and corporate governance procedures to
assure they meet or exceed the increased administrative requirements of a
national exchange. Our planned goal is to obtain a national exchange listing in
the 2006 calendar year.
Management and Employee Commitment
On behalf of management and everyone working here at URBT, I sincerely thank all
of our shareholders for their patience and support. We are passionate here at
URBT about our business model and the results we believe we can derive from it.
We are urban market enthusiasts and are genuinely excited about our business
prospects. We recognize that many shareholders have believed in us and have been
frustrated by the stock price. We thank you even more for persevering through
the frustration. We are all working hard here at URBT committed to building a
recognized urban market leader that is recognized by both of our market sectors,
viewers and Fortune 500 companies along with the financial marketplace. We have
made substantial progress positioning ourselves for the opportunities that are
before us. The path is not always easy, but we do sincerely believe that the
shareholders will not regret their resolve and perseverance.
Thank You,
Jacob Miles
CEO & Chairman
Urban Television Network Corp.
Forward-Looking Statements
This document contains forward-looking statements and information as that term
is defined in the Private Securities Litigation Reform Act of 1995, and,
therefore, is subject to certain risks and uncertainties. There can be no
assurance that the actual results, business conditions, business developments,
losses and contingencies and local and foreign factors will not differ
materially from those suggested in the forward-looking statements as a result of
various factors, including market conditions, competition, advances in
technology and other factors.