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Media Concepts Inc. Announces Joint Venture With AIX Media Group
Thursday, October 21, 1999 09:32 AM
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SAN DIEGO--(BUSINESS WIRE)--Oct. 21, 1999--Media Concepts Inc. (OTCBB:MDCE) today announced a joint venture agreement with AIX media Group Inc. to design, produce and distribute DVD and Video Cassette programs using the Media Concepts existing library of products on a worldwide basis.
Erik Vidrio, president of Media Concepts Inc. stated that, "William (Bill) Palmer, member of the Board of Directors, was very instrumental in completing this agreement with AIX." Vidrio also stated that, "Bill will continue to use his skills on a day to day basis with the operations within the corporation." Palmer
has over 19 years experience in the motion picture industry and has worked on hundreds of motion picture and TV productions.
"We are excited about this new relationship with AIX Media Group," said Palmer. "This joint venture willallow Media Concepts to utilize parts of its film library without incurring all of the start up costs of production and distribution.
AIX is both a service provider and a content owner through its AIX Ventures division. The company has established co-venture relationships with over 15 video content providers to bring their titles to the new DVD-Video format. AIX participates in a percentage of the net or gross revenue of these titles on a royalty basis in exchange for reduced production costs. To date, co-venture deals have beenompleted on nearly 100 titles with leading distributors. Some of the titles that have been produced include "Die Hard," "Wrongfully Accused," and the "King and I" ("Animated Version").
"AIX Media Group, winner of a number of prestigious DVD awards, created one of the first DVD titles over two years ago and has been at the forefront of the format ever since," stated Don Raymond,
account executive and producer of AIX. "AIX Media Group are proud to announce their joint venture with Media Concepts Inc. We're very excited about Media Concepts talents and assets in the film and
video-gram markets. Merging AIX Media Group's production abilities with Media Concepts extensive film library will be a winning combination that will translate into volumes of classic and special interest
films into the home video market!"
Additional information about AIX Media Group can be found on their Web site at www.aixmediagroup.com.
Media Concepts Inc. is a diversified entertainment and media technology company that focuses on emerging technologies as they are related to electronic home products and other entertainment
ucts. Additional information about Media Concepts home theater products can be found on their Web site at www.media-concepts.com
This release may contain forward-looking statements. Various factors could cause actual results todiffer materially from those projected in forward-looking statements, including but not limited to thetiming and development of emerging technologies. Although Media Concepts Inc,. believes that theforward-looking statements contained herein are reasonable, it can give no assurance that the expectations are correct. All forward-looking statements are expressly qualified in their entirety by this
Cautionary Statement.
CONTACT: Media Concepts Inc.
Erik Vidrio, 619/824-1992
Quote for referenced ticker symbols: MDCE
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