VMIX is now officially a .com company, about time, hopefully this should help the stock recover. Also, notice that the CEO is now doing the press releases and that the CFO has been silenced. This may be the most positive news of all. Probably too much to hope that they fired the CFO?
BW0363 Jun 23, 1999 15:31 PACIFIC 18:31 EASTERN
( BW)(CA-VALLEY-MEDIA)(VMIX) Valley Media and Amplified.com to Pursue
Digital Partnership
Business Editors/High-Tech Writers
WOODLAND, Calif.--(BUSINESS WIRE)--June 23, 1999--Valley Media,
Inc. (Nasdaq:VMIX), a recognized leader in the full-line distribution
of music and video entertainment products, today announced that it has
signed a letter of intent with Amplified.com, a leading digital music
distributor, regarding the digital distribution of music. The two
companies intend to jointly offer digital music downloads and custom
CD compilations to music retailers. The letter of intent further
provides that Amplified.com will build a custom CD manufacturing
facility within Valley Media's Woodland, California, distribution
center and that Valley Media will receive an equity stake in
Amplified.com.
"The proposed relationship with Amplified.com would move Valley
Media into the digital distribution of music," said Rob Cain, Valley
Media's President and CEO. "The relationship would allow us to offer
our customers the ability to digitally download and manufacture CD
compilations. Amplified.com would manufacture custom CDs from within
our California distribution |
