WENR Corporation Announces Lease of Second Television Channel
September 16 2009 - 7:30AM
Marketwired
WENR Corp. (PINKSHEETS: WNRC), is pleased to announce the leasing
of a second television station. Ngensolutions LLC, current owner of
Channel 43 KELM-LP in Reno, Nevada, has agreed to purchase a second
television station, Channel 25 KRRI-LP also in Reno, Nevada. The
second television station will also be leased to WENR Corp. The
Company is finalizing the lease agreement for KELM-LP television
channel. WENR has not decided on content for the second station.
The transfer of the license to Ngensolutions will take
approximately 60 days. Terms were not disclosed.
The content of the channel will be owned by WENR Corp. and a
lease payment made to Ngensolutions LLC. Dan Green, President of
WENR Corp., is also a manager of Ngensolutions LLC.
The Company is developing a financial oriented network with a
focus on small-cap, bulletin board and pink sheet companies for
KELM-LP. The focus of the channel will be to profile small-cap
companies using their own promotional footage with in-studio
interviews. The Company is in discussions with studios in the Los
Angeles, Reno and Las Vegas areas to contract studio facilities for
programming on an interim basis. Ultimately the Company plans to
develop the base of operations in Las Vegas, Nevada.
The Company has preliminary commitments from three cable
operators to broadcast the KELM-LP programming on their respective
basic line-ups. This will be at no cost to the Company. The Company
anticipates the second channel will also be carried on these cable
systems. Further the cable operators will sell advertising, which
will be shared with the Company.
Lawsuit Update
In the last news release (September 10, 2009) the Company stated
it had signed a "Preliminary" settlement agreement with a lawsuit.
This was in error. The Settlement Agreement was final and approved
by the judge. The lawsuit was dismissed with prejudice on August
26, 2009. See www.wenr.net for the final documentation.
The foregoing contains forward-looking information within the
meaning of The Private Securities Litigation Act of 1995. Such
forward-looking statements involve certain risks and uncertainties.
The actual results may differ materially from such forward-looking
statements. The company does not undertake to publicly update or
revise its forward-looking statements even if experience or future
changes make it clear that any projected results (expressed or
implied) will not be realized.
Contact: WENR Corporation Dan Green 435-709-8350
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