LFP Broadcasting Commences Tender Offer For All Outstanding Shares Of New Frontier Media, Inc.

  LFP Broadcasting Commences Tender Offer For All Outstanding Shares Of New
                             Frontier Media, Inc.

Previously Announced Offer of $2.02 Per Share in Cash Plus a Contingent
Payment Right

PR Newswire

BOULDER, Colo. and LOS ANGELES, Calif., Oct. 29, 2012

BOULDER,Colo. and LOS ANGELES, Calif., Oct. 29, 2012 /PRNewswire/ --New
Frontier Media, Inc. (NasdaqGS: NOOF), a leading provider of transactional
television services and distributor of general motion picture entertainment,
and L.F.P., Inc., the company founded and headed up by Larry Flynt, today
jointly announced that LFP Broadcasting, LLC and Flynt Broadcast, Inc.,
affiliates of L.F.P., have commenced the previously-announced tender offer for
all of the outstanding shares of common stock of New Frontier Media for $2.02
per share, net to the seller in cash without interest, plus a contingent cash
payment right for each common share. The offer price represents approximately
a 79% premium to New Frontier Media's closing stock price on March 8, 2012,
the day before New Frontier Media received a publicly-announced unsolicited
acquisition proposal.

On October15, 2012, New Frontier Media and L.F.P. announced that New Frontier
Media and affiliates of L.F.P. had entered into a merger agreement, pursuant
to which a tender offer would be made for all the issued and outstanding
shares of New Frontier Media. The tender offer, if successful, will be
followed by a second-step merger in which any shares of New Frontier Media not
tendered into the offer will be converted into the right to receive the same
per share consideration paid to New Frontier Media shareholders in the tender
offer, subject to shareholders' dissenters' rights under Colorado law. As a
result of the transaction, New Frontier Media's common stock would no longer
be publicly-owned or traded on the NASDAQ market.

After careful consideration and following the recommendation of the special
committee of New Frontier Media's board of directors, which was comprised
solely of non-employee independent directors, New Frontier Media's board of
directors unanimously determined that the tender offer and the merger are fair
to and in the best interests of the shareholders of New Frontier Media, and
approved the merger agreement, the tender offer, the merger and the other
transactions contemplated by the merger agreement. Accordingly, New Frontier
Media's board of directors unanimously recommends that New Frontier Media's
shareholders accept the tender offer and tender their shares in the tender
offer and, if required by Colorado law, adopt the merger agreement and approve
the transactions contemplated by the merger agreement, including the merger.

Larry Flynt, L.F.P., Inc., LFP Broadcasting, LLC and Flynt Broadcast, Inc. are
today filing with the U.S. Securities and Exchange Commission (SEC) atender
offer statement on ScheduleTO, including an offer to purchase and related
letter of transmittal, setting forth in detail the termsof the tender offer.
Additionally, New Frontier Media is today filing with the SEC a
solicitation/recommendation statement on Schedule14D-9 setting forth in
detail, among other things, the unanimous recommendation of New Frontier
Media's board of directors that New Frontier Media's shareholders accept the
tender offer and tender their shares into the tender offer.

The consummation of the tender offer is subject to the satisfaction or waiver
of certain conditions, including: (i) a majority of outstanding New Frontier
Media shares on a fully diluted basis having been tendered into the offer and
not validly withdrawn, (ii) there not having been a material adverse change
with respect to New Frontier Media, (iii) New Frontier Media having not less
than $11,514,000 in available cash at the expiration of the tender offer, and
(iv) other customary conditions. The tender offer is not subject to a
financing condition.

The tender offer and withdrawal rights are scheduled to expire at midnight,
New York City time, on Tuesday, November27, 2012 (the end of the day on
Tuesday), unless extended or earlier terminated in accordance with the terms
of the merger agreement and the applicable rules and regulations of the SEC.

Avondale Partners LLC is acting as exclusive financial advisor to the Special
Committee of the Board of Directors of New Frontier Media in connection the
transaction. Alston + Bird LLP is acting as legal advisor to the Special
Committee. Holland & Hart LLP is acting as legal advisor to the Company.

Lipsitz Green Scime Cambria LLP and Dinsmore & Shohl LLP are acting as legal
advisors to LFP Broadcasting in connection with the transaction.

About New Frontier Media, Inc.

New Frontier Media, Inc. is a provider of transactional television services
and a distributor of general motion picture entertainment. Our Transactional
TV segment distributes adult content to cable and satellite providers who then
distribute the content to retail consumers via video-on-demand (VOD) and
pay-per-view (PPV) technology. Programming originates from our state of the
art digital broadcast infrastructure in Boulder, Colorado. We obtain our
programming primarily by licensing content distribution rights from movie
studios, and we distribute new and unique programming in order to provide
consumers with an exceptional viewing experience.

Our Film Production segment is a distributor of mainstream and erotic films.
The films are distributed to cable and satellite operators, premium movie
channel providers and other content distributors. We act as a sales agent for
mainstream films and produce erotic films. The segment also periodically
provides contract film production services to major Hollywood studios.

We are headquartered in Boulder, Colorado, and our common stock is listed on
the Nasdaq Global Select Market under the symbol "NOOF." For more information
about New Frontier Media, Inc., contact Grant Williams, Chief Financial
Officer, at (303) 444-0900, extension 2185, and please visit our web site at

About L.F.P. Inc.

L.F.P. Inc. markets the HUSTLER® brand through a wide range of media
properties and licensing initiatives. LFP maintains strong businesses in
broadcasting, publishing, retail, internet, mobile, apparel, novelties, clubs
and video, and owns the prominent HUSTLER Casino. HUSTLER TV, now available
in over 55 countries, has exclusive broadcasting rights to a large number of
top studios.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements. In some cases,
forward-looking statements can be identified by words such as "anticipate,"
"expect," "believe," "plan," "intend," "predict," "will," "may" and similar
terms. Forward-looking statements in this press release include, but are not
limited to, statements regarding the anticipated timing of filings relating to
the transaction; statements regarding the expected timing of the completion of
the transaction; statements regarding the ability to complete the transaction
considering the various closing conditions; statements regarding prospective
performance and opportunities; any statements of expectation or belief; and
any statements of assumptions underlying any of the foregoing. The
forward-looking statements contained in this press release related to future
results and events are based on the Company's current expectations, beliefs
and assumptions about its industry and its business. Forward-looking
statements, by their nature, involve risks and uncertainties and are not
guarantees of future performance. Actual results may differ materially from
the results discussed in the forward-looking statements due to a variety of
risks, uncertainties and other factors, including, but not limited to,
uncertainties as to the timing of the tender offer and the merger;
uncertainties as to how many of the Company's shareholders will tender their
stock in the tender offer; the risk of litigation relating to the transaction;
the risk that competing offers will be made; the possibility that various
closing conditions for the transaction may not be satisfied or waived; the
effects of disruption from the transaction making it more difficult to
maintain relationships with employees, customers, vendors or other business
partners; other business effects, including, but not limited to, the effects
of industry, economic or political conditions outside of the Company's
control; transaction costs; actual or contingent liabilities; and other risks
and uncertainties discussed in documents filed with the SEC by the Company,
including, but not limited to, the solicitation/recommendation statement and
merger proxy statement to be filed by the Company. Investors and shareholders
are cautioned not to place undue reliance on these forward-looking statements.
Unless required by law, the Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise. Readers are also urged to review carefully and consider
the various disclosures in the Company's SEC periodic and interim reports,
including but not limited to its Annual Report on Form 10-K, as amended, for
the fiscal year ended March 31, 2012, Quarterly Report on Form 10-Q for the
fiscal quarter ended June 30, 2012 and Current Reports on Form 8-K filed from
time to time by the Company. All forward-looking statements are qualified in
their entirety by this cautionary statement.

Important Information About the Tender Offer

This press release is not a recommendation, an offer to purchase or a
solicitation of an offer to sell shares of common stock of New Frontier Media,
Inc., a Colorado corporation ("New Frontier Media"). The solicitation and the
offer to buy shares of New Frontier Media common stock is being made pursuant
to an offer to purchase and related materials that Larry Flynt, L.F.P., Inc.,
LFP Broadcasting, LLC and Flynt Broadcast, Inc. are filing today with the SEC.
Larry Flynt, L.F.P., Inc., LFP Broadcasting, LLC and Flynt Broadcast, Inc. are
filing today a tender offer statement on Schedule TO with the SEC, and New
Frontier Media is filing today a solicitation/recommendation statement on
Schedule 14D-9 with respect to the offer. The tender offer statement
(including an offer to purchase, a related letter of transmittal and other
offer documents) and the solicitation/recommendation statement contain
important information that should be read carefully and considered before any
decision is made with respect to the tender offer. These materials are being
sent free of charge to all shareholders of New Frontier Media. In addition,
all of these materials (and all other materials filed by New Frontier Media
with the SEC) are available at no charge from the SEC through its website at
www.sec.gov. Free copiesof the offer to purchase, the related letter of
transmittal and certain other offering documents are also available by
contacting Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New
York, New York 10022 (for information by telephone: Banks and Brokers Call
Collect: (212)750-5833; All Others Call Toll-Free: (888)750-5834). In
addition, shareholders will be able to obtain a free copy of these documents
from New Frontier Media by contacting Marc Callipari, Chief Legal Officer, New
Frontier Media, Inc., 6000 Spine Road, Suite 100, Boulder, Colorado 80301,
(303) 444-0900; mcallipari@noof.com.

New Frontier Investor Contacts:  New Frontier Media Contacts:
Grant WilliamsAndrew Cole /
Jonathan Doorley
Chief Financial OfficerSard Verbinnen &
(303) 444-0900 x 2185(212) 687-808


Scott Winter
Innisfree M&A Incorporated
(212) 750-5833

LFP Broadcasting Media Contacts:
Arthur Sando
(323) 651-5400

SOURCE New Frontier Media, Inc.

Website: http://www.noof.com
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