Player’s Network Inc. Files Second Amended Complaint Against Comcast Corporation and Resumes Pre-Trial DiscoveryComcast Employee Depositions Support Player’s Network Allegations
LAS VEGAS, NV–(Marketwired – March 11, 2015) – Player’s Network, Inc. (PNTV), a vertically integrated, diversified, fully reporting public company operating two complimentary portfolios of Media and Medical Marijuana, announced today it has filed an amended complaint in the United States District Court for Nevada, case number 2:14-cv-00238-GMN-GWF. The Second Amended Complaint seeks $150,000,000 and is based on a contract entered into with Comcast Corporation in 2005, which PNTV alleges Comcast breached. PNTV also alleges that Comcast made misrepresentations to PNTV that caused it to expend millions of dollars on programming content and overhead, as well as to continue supplying programming content to the cable company pursuant to the contract.
The case recently completed the first phase of discovery in the District Court and the second phase of discovery will commence on or about March 20, 2015. Depositions of senior Comcast employees and former employees were taken in Philadelphia and New York during the first phase of discovery. These depositions indicated support for PNTV’s allegations of Comcast’s neglect and lack of attention to the contract with PNTV as well as Comcast’s failure to comply with the terms of the contract in good faith.
In addition to the lawsuit, complaints have been made to the FCC Sub-Committee of the Senate Judiciary Committee, particularly Senator Al Franken and to Richard Wheeler, Chairman of the FCC, which are all investigating Comcast’s violations of the consent decree entered concerning its acquisition of NBC and Universal, as well as Comcast’s announced merger with divisions of Time Warner Cable Inc.
Player’s Network C.E.O. Mr. Bradley commented: “I personally attended the recent depositions of Comcast’s employees and former employees, I am confident that when all the facts in this case come to light, PNTV’s allegations will be confirmed and substantial damages will be awarded in the case.”
About Player’s Network:
Player’s Network is a diversified company with holdings in both Media and Medical Marijuana. The Company uses its proprietary Enterprise Web Platform to develop Branded Digital Lifestyle Television Networks for itself and its partners in a wide range of lifestyle categories. Player’s Network’s current original channels, “Player’s Network”, “Vegas on Demand”, “Real Vegas TV”, focus on the Las Vegas and Gaming Lifestyles. These channels are distributed over PNTV’s owned and operated VOD Channels on TV in over 23,000,000 homes over Comcast, its Broadband Network and Mobile Platforms, on Hulu, Google, YouTube, Blinkx and Yahoo Video, on DVD, and through worldwide television syndication. The Medical Marijuana assets are primarily through the Company’s 80% ownership in Greenleaf Farms Holdings, and PNTV’s newest channel, “WeedTV.com, which focuses on the rapidly expanding cannabis community. For more information please visit www.playersnetwork.com.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this Release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to: the ability of the Company to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow, the ability to obtain orders for or install its products, the ability to obtain new customers and the ability to continue to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.
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