Bluetorch Media (Bluetorch), the in-house media demonstration platform for Broadband Interactive Group (BIG) has issued a retraction and clarification of prior press statements dated January 9, 2002, January 21, 2002 and appearing in the LA Times (In Brief) on January 15, 2002 regarding its relationship to Fox Sports Net (Fox) and rights in the extreme sports program Bluetorch.
Marvin Winkler, chairman and chief executive of Gotcha Brands, Inc, announced that Gotcha acquired assets, including the name "Broadband Interactive Group" via a multi-party transaction in an assignment for benefit of creditors initiated by former management of BIG in order to liquidate BIG's assets.
As part of the assignment, Fox and Gotcha Brands, Inc. entered into an exclusive long-term licensing deal. This long-term license gives Fox exclusive programming rights to the 165 one-hour Bluetorch television shows produced in 2000 and 2001, along with the many hours of raw tape in the Bluetorch archive.
The agreement does not reserve for BIG any rights to telecast a Bluetorch television program. Statements in the prior press releases and stories regarding the pre-production of additional Bluetorch television programming, and current production of the "Gotcha Pipeline" event for Bluetorch TV in Hawaii were inaccurate.
BIG does not have the right and has no intention, absent an agreement with Fox, to produce any future Bluetorch programming for telecast.
The Bluetorch trademarks and web-site rights are the property of Broadband Interactive Group and Bluetorch Media is currently shooting in Brazil and Hawaii for new Gotcha and MCD home-video projects and also for Gotcha BackdoorTV.