Network Media Group Announces Quarter Ended February 28, 2019 Results

VANCOUVER, April 29, 2019 /CNW/ - Network Media Group Inc. (TSX: NTE.V) (OTCMKTS: NMGGF) ("Network" or "the Company") today reported record financial results for the quarter ended February 28, 2019 ("Q1 2019"), including revenues of $986,248, net income of $166,010 and Adjusted EBITDA of $427,539.

The financial results for Network's Q1 2019 include the following highlights:

• Revenues of $986,248 (2018 - $158,904)
• Net income of $166,010  -  $0.00 per share (2018 – net loss of $323,488 - $0.00 per share)
• Adjusted EBITDA of $427,539 - $0.01 per share (2018 – loss of $60,035 - $0.00 per share)
• Continued production on two additional I Am projects, the four-episode series on PUNK with EPIX, the eight-episode documentary series with YouTube Original about Artificial Intelligence, and a documentary on Chris Farley.

The Company's unaudited condensed interim consolidated financial statements for February 28, 2019 are available on www.sedar.com under the Company's profile.

A more detailed analysis of the other components of the Company's performance can be found in its Management Discussion and Analysis as filed on www.sedar.com.

About Network Entertainment
Network Media Group is the parent company of Network Entertainment Inc. Network Entertainment, founded and headquartered in Vancouver, British Columbia, Canada, produces premium content for global audiences. Network's documentaries and docu-series showcase the lives of the world's most inspiring cultural icons and their enduring legacy, featuring a compelling lineup of icons from the worlds of Music, Movies, Comedy, Sports, Politics and Business. The Network premium brand of programming features outstanding casts and highly cinematic, richly crafted storytelling. Network's productions are consistently embraced by both audiences and critics alike, garnering awards, record ratings and unparalleled media coverage. 

Network's broadcast and distribution partners include: A&E, AHC, AMC, Discovery Channel, CBC, CMT, CTV, Entertainment One, EPIX, FremantleMedia, HBO Canada, History Channel, iTunes, Lionsgate, National Geographic, Paramount Network, Spike, Sundance TV, Thunderbird, TMN, Virgil Entertainment, and YouTube Premium. The Company's work has been recognized by the Academy Awards, the Emmys, Realscreen Awards, the Gemini Awards, the Leo Awards, the Los Angeles Film Festival, Washington D.C. Silver Docs, Seattle International Film Festival, Tribeca Film Festival, Hawaii International Film Festival, Houston International Film Festival, Vancouver International Film Festival, Banff Television Festival, and the International Film and Television Festival of New York.

For additional information on Network Entertainment Inc., visit www.networkentertainment.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Cautionary Statement on Forward-looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. These statements are necessarily based upon management's perceptions, beliefs, assumptions and expectations, as well as a number of specific factors and assumptions that, while considered reasonable by management of the Company as of the date of such statements, are inherently subject to significant uncertainties and contingencies that could result in the forward-looking information ultimately, perhaps materially, being incorrect. All forward looking information in this news release involve known and unknown risks, uncertainties and other factors that are beyond the control of the Company and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking information. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof.

SOURCE Network Media Group Inc.

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