Archive for February, 2008

27
Feb

Mobile Music Adoption Passes Tipping Point With Revenues Set To Reach $17.5bn By 2012, Whilst Ringtones Revenues Begin Rapid Decline

   Posted by: mwatkins    in Publishing News

The total value of the global mobile music market is expected to rise to more than $17.5bn by 2012, driven by rental music services and full-track downloads, according to a new report by Juniper Research.

According to report author Dr Windsor Holden, “I think it’s fair to say that 2007 marked the tipping point as far as mobile music adoption was concerned. Far more subscribers began downloading and subscribing to music content in developed markets, and it must be said that that the publicity surrounding the iPhone launch undoubtedly contributed to consumer awareness of mobile music services per se.”

However, the Juniper report also argues that current prices for ringtones are unsustainable and that the market for such services may already have peaked in a number of developed markets, arguing that competitive pricing allied to a steady migration to ad-funded and/or self-generated ringtones will lead to a gradual decline in global ringtone revenues.

“With some operators now offering full-track downloads at a comparable price to iTunes, there is little justification for a ringtone retail price point that is in many cases two or even three times this level,” said Holden. “Furthermore, those aggregators whose portfolios are largely dependent upon the polyphonic ringtone will be unable to survive in the medium term unless they both rethink their pricing strategies and substantially diversify their product portfolios.”

Other findings from the Juniper report include:
* The China/Far East region will remain the largest regional marketplace for mobile music services, accounting for around 43% of sales per annum over the next five years
* Ringtones, which accounted for 62% of the mobile music market in 2007, will account for just 38% by 2012
* The report argues that more operators should emulate the Vodafone model and introduce similar subscription-based music rental services

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27
Feb

iTunes Now Number Two Music Retailer In The US

   Posted by: mwatkins    in Publishing News

Apple announced that iTunes (www.itunes.com) is now the number two music retailer in the US, behind only Wal-Mart, based on the latest data from the NPD Group*. Apple also announced that there are now over 50 million iTunes Store customers. iTunes has sold over four billion songs, with an incredible 20 million songs sold on Christmas Day 2007 alone, and offers the world’s largest music catalog of over six million songs from all of the major and thousands of independent labels.

“We’d like to thank the over 50 million music lovers who have helped the iTunes Store reach this incredible milestone,” said Eddy Cue, Apple’s vice president of iTunes. “We continue to add great new features like iTunes Movie Rentals to give our customers even more reason to love iTunes.”

Last month, Apple launched iTunes Movie Rentals featuring movies from all of the major movie studios including 20th Century Fox, The Walt Disney Studios, Warner Bros., Paramount, Universal Studios Home Entertainment, Sony Pictures Entertainment, Metro-Goldwyn-Mayer (MGM), Lionsgate and New Line Cinema. Users can rent movies and watch them on their PCs or Macs, all current generation iPods**, iPhone and on a widescreen TV with Apple TV. iTunes Movie Rentals will offer over 1,000 titles by the end of this month, including over 100 titles in stunning high definition video with 5.1 Dolby Digital surround sound which users can rent directly from their widescreen TV using Apple TV.

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21
Feb

Smirnoff Launches Music Series With Signature Reinterpretations Of Classic Hits By Common, Q-Tip And KRS-One

   Posted by: mwatkins    in Publishing News

Beginning this month, the makers of Smirnoff vodka are launching an exciting new Smirnoff Signature Mix Series, a campaign pairing three acclaimed rappers with contemporary beat-maestros to create new versions of iconic hip-hop songs. Nationally renowned artists Common, Q-Tip, and KRS-One are joining musical forces with Just Blaze, Cool & Dre, and DJ Premier to remix Common’s “The Light,” A Tribe Called Quest’s “Midnight,” and Boogie Down Productions’ seminal “Criminal Minded.”

The Smirnoff Signature Mix Series is part of the brand’s ongoing commitment to fostering and promoting both established and emerging musical talent. The program was developed in partnership with Cornerstone, a leading marketing firm in New York City.

Each artist/producer pairing represents a Smirnoff mixed drink made by blending one of the best-selling Smirnoff flavored vodka products with a popular mixer. “The Southside,” made with Smirnoff Green Apple flavored vodka and cranberry juice, is the inspiration for Common and Just Blaze’s collaboration. “The Blueberry Abstract,” made with Smirnoff Blueberry flavored vodka and lemonade, is linked to the partnership between Q-Tip and Cool & Dre. “The Cypha,” an exciting blend of Smirnoff Raspberry flavored vodka and pineapple juice, represents the collaboration between KRS-One and DJ Premier.

“I’m honored to have the opportunity to revisit one of my signature songs and give it a breath of fresh air,” said KRS-One. “I’m grateful to Smirnoff for providing the opportunity to work with such great talent on such a ground-breaking idea and recreate hip-hop songs.”

The Smirnoff Signature Mix Series will be supported by a comprehensive radio, video, and digital promotional campaign, in addition to out-of-home, point of sale, and radio advertising, which will roll out nationally in February 2008. The Smirnoff Signature Mix program will be activated in the following key markets: New York, Los Angeles, Chicago, Detroit, Philadelphia, Atlanta, and Washington, D.C. and each city will host Smirnoff Signature Mix events. Top-tier radio and club deejays across the country will receive a limited edition vinyl album containing all three remixed songs.

All three songs, their music videos, and the behind-the-scenes production footage will be available for free download exclusively at SmirnoffSignatureMixSeries.com beginning on February 19th. In addition, the website will feature messages from select performers encouraging consumers to drink responsibly. These clips will also be aired during local events.

A private launch event for the program featuring performances by all of the participating talent will be held in New York. In hosting a responsible party, Smirnoff servers will distribute bottled water and food throughout the event, while encouraging guests to “Mix Well, Drink Responsibly”.

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21
Feb

Justice Department Requires Divestitures In Private Equity Funds’ Acquisition Of Clear Channel

   Posted by: mwatkins    in Publishing News

The Department of Justice said today that it will require Clear Channel, the largest operator of radio stations in the United States, to divest radio stations in four cities in order for a group of private equity investors led by Bain Capital (Bain) and Thomas H. Lee Partners (THL) to proceed with their acquisition of a controlling interest in Clear Channel. The Department said that the transaction, as originally proposed, likely would have resulted in higher prices to purchasers of radio advertising in Cincinnati, Houston, Las Vegas and San Francisco because Bain and THL already have substantial ownership interests in two firms that compete with Clear Channel in those cities. Bain and THL have ownership interests in Cumulus Media Partners LLC (Cumulus), a large nationwide operator of radio stations, and THL also has an ownership interest in Univision Communications Inc. (Univision), a large nationwide operator of radio stations that broadcast primarily in Spanish.

The Department’s Antitrust Division filed a civil lawsuit today in U.S. District Court in Washington, D.C., to block the proposed acquisition. At the same time, the Division filed a proposed settlement that, if approved by the court, would resolve the lawsuit and the Department’s competitive concerns.

The divestitures are required to assure continued competition in markets where the transaction would otherwise result in a significant loss of competition. According to the complaint, radio stations owned by Clear Channel and Cumulus compete head-to-head in Cincinnati and Houston. In addition, Clear Channel and Univision own competing Spanish-language radio stations in Houston, Las Vegas and San Francisco. THL and Bain’s acquisition of a controlling interest in Clear Channel—combined with their existing ownership interests in Cumulus and THL’s ownership interest in Univision—gives them the incentive and the ability to reduce competition between Clear Channel and Cumulus and/or Univision, which would result in increased prices and reduced levels of service in the sale of radio advertising time. Under the terms of the proposed settlement, Clear Channel must divest stations in Cincinnati, Houston, Las Vegas and San Francisco to buyers approved by the Department’s Antitrust Division.

“Without the divestitures obtained by the Department, advertisers that rely on radio advertising in the affected cities likely would have faced higher prices,” said Thomas O. Barnett, Assistant Attorney General in charge of the Department’s Antitrust Division. “The divestitures will ensure that advertisers will continue to receive the benefits of competition.”

Bain and THL raise pools of capital from private investors, controlling and managing that capital through private equity funds and co-investment vehicles that invest in discrete opportunities, such as venture capital, public equity, and leveraged debt assets. Bain and THL, either directly or indirectly through management teams, typically manage and operate the assets in which they invest. According to the terms of their agreement with Clear Channel, Bain and THL will have the right collectively to appoint two-thirds of the Clear Channel Board of Directors. Currently the companies appoint one-half of the Cumulus Board; THL currently appoints three of Univision’s 17 Directors.

Bain, with more than $40 billion in assets under its management, is a Delaware limited liability company headquartered in Boston. THL, a Delaware limited partnership headquartered in Boston, currently manages approximately $12 billion of committed capital.

Clear Channel is a diversified media company incorporated in Texas and headquartered in San Antonio. Clear Channel owns various media outlets including radio stations, domestic and international outdoor advertising assets, television stations, and a media representation firm. Radio broadcasting is Clear Channel’s largest business segment, representing more than 50 percent of Clear Channel’s total revenue. Bain and THL’s acquisition of Clear Channel’s non-radio businesses does not create competitive concerns.

As required by the Tunney Act, the proposed settlement, along with the Department’s competitive impact statement, will be published in the Federal Register. Any person may submit written comments concerning the proposed settlement during a 60-day comment period to John R. Read, Chief, Litigation III Section, Antitrust Division, U.S. Department of Justice, 325 7th Street, N.W., Suite 300, Washington, D.C. 20530. At the conclusion of the 60-day comment period, the court may enter the final judgment upon a finding that it serves the public interest.

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21
Feb

Broadjam Teams With Konami Digital Entertainment Inc. To Find New Music For DanceDanceRevolution

   Posted by: mwatkins    in Publishing News

Madison, WI – Broadjam, Inc., publisher of one of the world’s largest independent music websites, announced today that it will team with acclaimed video game publisher Konami Digital Entertainment Inc. to find new music for their hit DanceDanceRevolution series.

Members of broadjam.com will be able to upload their music and submit it to Konami starting February 1st through March 21st, 2008. With broadjam.com’s unique song contest system, fans and musicians will be able to review the songs submitted and give their opinion on how the songs rate.

When the peer reviews close on February 28th, the results will help determine which songs are selected by Konami`s panel of judges. Two winners will receive the opportunity to license their song for future releases of the DanceDanceRevolution series and receive $1000.

“We have worked with Broadjam on several contests now, and each time I am astonished at the selection and quality of music we are presented with.“ said Stillwind Borenstein, Music Director for Konami Digital Entertainment. “I am definitely looking forward to this year`s contest!”

With over 85,000 members and an online catalogue of more than 300,000 original songs, broadjam.com ensures that Konami will be selecting content from a huge variety of quality artists.

“We’re excited to help Konami find new music for the 2008 version of DanceDanceRevolution,” said Roy Elkins, Founder and CEO of Broadjam. “Konami continues to provide great products and give Broadjam musicians an opportunity to showcase their work. We’re proud to be part of their effort.”

To learn more about Broadjam’s DanceDanceRevolution contest, please visit (www.broadjam.com/ddr2008). To learn more about Konami and their DanceDanceRevolution video game series, please visit www.konami.com.

About Broadjam, Inc.
Broadjam provides web-based technology, software and services for music fans, the music industry and independent musicians around the world. The company operates one of the world’s largest web communities for musicians and hosts a massive online database of searchable independent music at broadjam.com.

About Konami
Konami is a leading developer, publisher and manufacturer of electronic entertainment properties. Konami’s titles include the popular franchises Metal Gear Solid®, Silent Hill® and Castlevania®, among other top sellers. The latest information about Konami can be found on the Web at www.konami.com. Konami Corporation is a publicly traded company based in Tokyo, Japan with subsidiary offices, Konami Digital Entertainment, Co. Ltd. In Tokyo, Japan, Konami Digital Entertainment, Inc. in the United States and Konami Digital Entertainment GmbH in Frankfurt, Germany. Konami is traded in the United States on the New York Stock Exchange under the ticker symbol KNM. Details of the products published by Konami Digital Entertainment can be found at www.konami.com.

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19
Feb

Famed Music Producer/Songwriter McKinley Horton Tunes Up For Better World

   Posted by: mwatkins    in Publishing News

Famed music producer and songwriter, McKinley Horton, creator of Vanessa Williams’ smash “Dreamin” and “Gotta’ Get You Home Tonight”, collaborator of legendary music producers Jimmy Jam, Terry Lewis, Organized Noise, Sleepy Brown & Outkast, TLC, Foxy Brown, Cee-Lo Green and countless other industry giants, and contributor to hit film soundtracks for “Shaft”, “Snakes On The Plane”, “Miami Vice” with Michael Mann and “Money Train”, has teamed with burgeoning author, Lashana Spann, to create “Scooty Mack & M Fire Productions.”

“Through the ongoing introduction of inspiring messages via new music, films, television programming and literary works, “Scooty Mack & M Fire Productions” is on a mission to help create entertainment making for a better world,” states Horton.

Current “Scooty Mack & M Fire” projects under development include a romantic comedy feature film for Penny Marshall’s “Parkway Productions”, a music-driven television reality program entitled “Who’s Got Beats” featuring award-winning producers judging the hottest NEW music producers and artists, and a hip new television home shopping program described as “The Urban Shopping Network.”

In the world of music, Horton, who’s proudly performed charitable work for the John Whitehead Foundation, is passionate about increasing the love of music aimed at healing problems facing humanity.

As a result, Horton is preparing to unveil “Better World” Gospel, Hip-Hop and R & B Records with consulting from Philadelphia Radio Veteran, Cosmic Kev of WUSL Power 99FM. Plus, a partnership with marketing guru Beryl Wolk will lead to the creation of a “Better World ” Music Club program offering incredible membership incentives. Artists set to be featured include Doesya, Sucker Free, Wild Bill, Mike Jerz , Lyndsey Patrice (”Demo Girl”) and more to be announced.

Horton also shares, “The highly-anticipated Harold Melvin and the Bluenotes commemorative three-CD set is scheduled for a special one-time release later this year.”

Author Lashana Spann’s story, “Third Shift”, will be “Better World” Publishing’s first book release.

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19
Feb

Brian Linne Releases Single Shared Cross To Aid Catholic Social Services

   Posted by: mwatkins    in Publishing News

Port Huron, MI-January 28, 2008 Brian Linne is an independent rock-pop artist on mission, not only to spread the word about his music but the meaning and purpose of it. Driven by his own motivations to succeed in life and take a Christian path, Brian decided to give back to the Catholic Church and its social services with the song “Shared Cross.”

Linne took a page out of his own book of life this past year and the experiences he had with the support of the catholic community through trying times. This was the reason “Shared Cross” became a reality. People of the same faith helped Linne to work through his difficulties and conquer whatever challenges he went through on a personal level.

Brian is no stranger to making music about the trials and tribulations of life. In 2005, he released his first full-length recording The Uniqueness In Me, a rocking spiritual testament to his victories over the demons that haunted him.

“Shared Cross” was recorded 18 months ago and it is one of several tracks that will be on a forthcoming full-length release. Brian has the capability to run off 1,000 copies of the CD if there are people or organizations that would like to get a fund drive started to assist in generating funds for the Catholic Social Services.

The song is already making an impression on friends and family, bringing tears to the eyes of those familiar with Linne. Many people will be able to relate to the song , life’s struggles, and the act of surrendering and asking for help. Being humble and true to yourself were the building blocks of the track.

With words like…”Everyone struggles with a demon now and then, so grab my hand cause I’m your friend I’ll be there till the bitter-end,” will make an impression on anyone, being Catholic is not a prerequisite to being able to relate to these words.

For more information visit the Brian Linne website, the Catholic Social Services site, or go to CD Baby to order the CD.

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15
Feb

CMA Announces Emmylou Harris, Tom T. Hall, Statler Brothers And Ernest “Pop” Stoneman As Newest Members Of Country Music Hall Of Fame

   Posted by: mwatkins    in Publishing News

The Country Music Association announced that Emmylou Harris, Tom T. Hall, The Statler Brothers and the late Country Music pioneer Ernest “Pop” Stoneman will become the newest members of the coveted Country Music Hall of Fame.

Harris will be the fourth artist included in the “Career Achieved National Prominence Between 1975 and the Present” category, which was created in 2005. Due to a tie, both Hall and the Statler Brothers will be inducted in the “Career Achieved National Prominence Between World War II and 1975″ category. Stoneman will be inducted in the “Career Achieved National Prominence Prior to World War II” category, which is awarded every third year in a rotation with the “Recording and/or Touring Musician Active Prior to 1980″ and “Non-Performer” categories.

“It is truly fitting that these artists receive Country Music’s biggest honor and become the newest members of the Country Music Hall of Fame,” said Tammy Genovese, CMA Chief Executive Officer. “Emmylou possesses the voice of an angel. She is one of the most revered song interpreters on the planet, and has been instrumental in preserving Country Music’s past while expanding Country Music’s horizons throughout her career. Tom T. Hall’s story-filled songs and keen observations of life have connected with audiences around the world. The harmonious Statler Brothers, whom Kurt Vonnegut once called ‘America’s Poets,’ sang songs about life and love while often providing nostalgic looks at simpler times. And Pop Stoneman was not only the head of the Stoneman Family, but one of the patriarchs of Country Music.”

Harris, Hall, the Statler Brothers and Stoneman will be officially inducted later this year during the traditional, invitation-only Country Music Hall of Fame Formal Induction and Medallion Ceremony presented by CMA and the Country Music Hall of Fame and Museum.

“This is so exciting,” said Kyle Young, Director of the Country Music Hall of Fame and Museum. “The 2008 Hall of Fame inductees represent a historical spectrum encompassing the earliest days of commercial Country Music recordings, the modern evolution of the Country gospel quartet tradition, the arrival of more complex themes and social consciousness in Country Music songs, and the advent of a vocalist who espoused the integrity of Country Music’s root forms and transcended the genre in a way that few others have been able to do. That’s a pretty complete spectrum. These artists have created a rich and enduring tapestry of music that will always recount the story of our homeland and its people over a period of almost 100 years. We applaud them and we congratulate them.”

The announcements were made this morning at the Country Music Hall of Fame and Museum in a press conference hosted by Genovese. Hall was introduced by his good friend and Country Music Hall of Fame member Ralph Emery, Harris was introduced by her longtime friend and former Hot Band member Tony Brown and the Statler Brothers were introduced by their longtime representative Marshall Grant. Country Music historian Eddie Stubbs paid tribute to Stoneman, who passed away in 1968. Stoneman was represented onstage by his daughter, Patsy Stoneman Murphy.

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13
Feb

Ricall And EMI Music Sign Global Deal

   Posted by: mwatkins    in Publishing News

LONDON, 11 FEBRUARY 2008 — Ricall, the leading online music licensing marketplace, has signed a global deal with EMI Music, one of the world’s top record companies. Under the new agreement, EMI will utilise Ricall’s online platform to help increase the opportunities for its artists to generate income from synchronisation licensing – the commercial use of its music in adverts, films, TV programmes, video games, corporate videos and events, new media productions and premium licensing for music promotions by major brands.

EMI Music represents a highly diverse roster of artists and one of the richest catalogues of recordings ever assembled from stars such as Lily Allen, Blur, Corinne Bailey Rae, The Beach Boys, The Beatles, Coldplay, Depeche Mode, Goldfrapp, Gorillaz, Hot Chip, Norah Jones, Nigel Kennedy, The Kooks, Lenny Kravitz, Kylie, Moby, Pink Floyd, Queen, Simon Rattle, Rolling Stones, KT Tunstall, Keith Urban and Robbie Williams. Its music spans all tastes and genres – from pop, rock, urban and country, to classical, jazz, christian and world music, to children’s, easy listening and spoken word.

Ronn Werre, EMI Music’s Executive Vice President of Global Sales, said: “EMI Music’s goal is to create maximum exposure and value for our artists’ music by embracing digital technologies and providing the best service to customers. Ricall’s technology will help us deliver a seamless process to business clients wishing to access EMI’s repertoire on a global basis. It is a great system that complements our existing search tools and is a very effective means of reaching new clients, giving our artists more opportunities to generate revenue through all kinds of established and emerging platforms.”

Richard Corbett, Founder and CEO of Ricall said: “We are delighted to announce this deal with EMI which will see Ricall working closely with a second major music group to promote their entire global music catalogue for licensing via Ricall. Synch and premium licensing are a significant and rapidly growing source of revenue for the music industry. Ricall’s unique platform enables copyright owners to take full advantage of this additional market by processing a much greater volume of music licensing more efficiently and cost effectively.”

Key aspects of Ricall’s deal with EMI include:

• EMI’s entire global catalogue of recordings will be uploaded onto Ricall’s existing online library – creating a total of more than three million tracks to be found and licensed at www.ricall.com.
• Ricall will develop a syncsite on its website for EMI to promote artists from its own global catalogue for synch licensing deals.
• As a global deal, Ricall will develop syncsites for EMI’s catalogue in each territory and will work closely with EMI in generating the highest levels of awareness by the potential client base.
• Ricall will source and license premium licensing deals for EMI tracks such as ‘free to consumer’ music offerings supported by major consumer brands.
• Any licences granted by EMI will always be subject to the artist’s approval.

Previously the labour intensive process of navigating the complicated world of music copyright to obtain a licence meant only large ad agencies, promotion companies and film studios had the resources and budgets to license well known tracks for various forms of commercial usage. Ricall’s technology delivers a significantly more efficient process, enabling more types of buyers such as viral producers and video game developers, to find and license a greater variety of music from labels’ deep back catalogues thereby helping copyright owners and commercial music users take full advantage of the long tail of both music and production.

Ricall has the most comprehensive music collection available from any B2B music destination, now encompassing more than three million tracks, including every track to have ever charted in the UK and US since charts began. This online library is being added to continuously with both the latest hits as well as new releases from independent and unsigned artists.

Ends

About Ricall:
Ricall was founded in 1998 and is now the world’s largest online music licensing marketplace. Its website – www.ricall.com – houses a library of more than three million tracks from 25,000 copyright owners, including the latest independent, production and unsigned music, as well as international acts from all the major music groups. Ricall connects more than 3,500 record companies and 22,000 music publishers to a global network of tens of thousands of professional music license buyers. These licencees use Ricall to look for, listen to and license music for use in their commercial productions – from radio ads and TV dramas to viral campaigns and corporate DVDs. Every day, worldwide, across multiple platforms, millions of people are listening to music licensed via ricall.com.

About EMI Music
EMI Music is the recorded music division of EMI Group Limited, one of the world’s largest independent music companies. Its EMI Music division represents artists spanning all musical tastes and genres. Its record labels include Angel, Astralwerks, Blue Note, Capitol, Capitol Nashville, EMI Classics, EMI CMG, EMI Records, EMI Televisa Music, Manhattan, Mute, Parlophone and Virgin. Artists on EMI labels include Lily Allen, The Beatles, Coldplay, Corinne Bailey Rae, The Good The Bad & The Queen, Gorillaz, Norah Jones, The Kooks, Korn, Kylie Minogue, Pink Floyd, Rolling Stones, Joss Stone, 30 Seconds To Mars, KT Tunstall, Keith Urban and Robbie Williams, as well as international artists such as Amaral (Spain), Camille (France), Utada Hikaru (Japan), LaFee (Germany), RBD (Mexico) and Vasco Rossi (Italy).

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13
Feb

Village Roadshow Pictures Group And Concord Music Group Join Forces To Form Village Roadshow Entertainment Group

   Posted by: mwatkins    in Publishing News

Norman Lear and Hal Gaba, co-owners of Concord Music Group (Concord), announced that Village Roadshow Pictures Group (VRPG) and Concord have completed their merger resulting in the creation of a new diversified entertainment group, Village Roadshow Entertainment Group (VREG).

While VRPG and Concord will continue to operate as separate entities, the combination of these complementary film and music assets under common ownership provide compelling cross-platform opportunities. The union also creates a scalable corporate infrastructure enabling operating efficiencies and growth.

VREG is owned by Village Roadshow Limited (VRL), Act III Entertainment (a media investment firm co-owned by Norman Lear and Hal Gaba), Lambert Entertainment (owned by Michael Lambert), and private equity firms, Tailwind Capital Partners and Clarity Partners.

Hal Gaba, Chairman of Concord Music Group, and Graham Burke, CEO of VRL, will be Co-Chairmen of VREG. Long time VRL executive and CEO of VRPG, Greg Basser, will serve as CEO of VREG.

“There is a strong strategic fit between motion pictures and music content. The union will couple a broad film library with a vast catalogue of master recordings and publishing rights,” said both John Kirby, Chairman of VRL, and Graham Burke. “We back people we believe in. With Concord management and the seasoned Village Roadshow Pictures Group executive team we have a combined music/film powerhouse that has an exciting future.”

Norman Lear, Act III Chairman added: “Throughout my life, I’ve seen amazing things happen when creative people come together. The passion and expertise exhibited by the folks at Concord and Village Roadshow Pictures have separately produced great results. I can’t wait to see what happens as these two forces unite.”

Glen Barros will continue in his role as President & CEO of Concord. Over the past few years, Concord has experienced significant growth and is one of the world’s largest independent music companies.

2007 saw further growth and the successful launch of the Hear Music joint venture label with Starbucks Entertainment, building upon a number of successful collaborations such as the Ray Charles’ GENIUS LOVES COMPANY project which won eight Grammy awards, including album and record of the year with 5.5 million in worldwide sales. Musical icons Paul McCartney, Joni Mitchell, and James Taylor and indie star Sia have all seen successful releases on this new jointly-owned label.

In a sign of its strength and unique position within the music industry, Concord significantly increased its market share and sales in 2007 fuelled by both the new Hear Music joint venture and the continued strength of the company’s catalog and recent new releases.

Bruce Berman, Chairman and CEO of Village Roadshow Pictures Entertainment and Greg Basser will continue to lead the successful VRPG film production and financing business.

VRPG, which has co-produced more than 57 theatrical motion pictures that have grossed more than $8.2 billion at the box office, consistently provides quality content and entertainment with worldwide appeal.

VRPG’s HAPPY FEET won an Oscar for best animated feature at the 2007 Academy Awards and the Will Smith smash hit holiday feature I AM LEGEND is still in release accumulating over $560million in worldwide box office results to date.

Upcoming VRPG releases include the Wachowski Brothers’ directed SPEED RACER and GET SMART staring Steve Carell and Anne Hathaway in summer 2008.

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