MEDIABAY, INC. AND AMERICAN MOVIE CLASSICS COMPANY ANNOUNCE ALLIANCE TO OFFER FULL LINE OF AUDIO MOVIE TITLES
MORRISTOWN, N.J., Nov 16, 1999 /PRNewswire via COMTEX/ -- MediaBay,
Inc. (Nasdaq: MBAY) and American Movie Classics Company ("AMC") today
announced an agreement to produce and market a full line of audio
movies on cassette through MediaBay's Radio Spirits subsidiary. The
products, to be marketed under the name "AMC Audio Movies to go", will
feature radio adaptations of classic films as originally heard on the
Lux Radio Theatre from the 1930s, 40s and 50s.
Carl Amari, President of MediaBay's Radio Spirits subsidiary, stated,
"When these programs first aired, over 40 million listeners would tune
into The Lux Radio Theatre to hear the film's actual stars performing
an audio adaptation of the original script, creating an atmosphere
which only radio can provide. Now available under AMC's Audio Movies to
go, customers can 'watch' their favorite movies through their mind's
eye while on the go."
Radio Spirits and AMC will introduce 44 titles in 1999 and 2000 to be
sold through a toll free number that will air on AMC, a cable network
which reaches approximately 70 million homes. The products will also be
featured in AMC's national magazine and will be sold directly through
book stores chains including Barnes & Noble, B. Dalton, Walden Books,
and Crown, catalogues and on both the AMC (http://www.amctv.com) and
various MediaBay websites (including mediabay.com,
radiospirits.com, audiobookclub.com,
videoyesteryear.com and audiobook.com). As part
of the agreement, AMC will receive exclusive eight week access to
selected titles for sale using AMC's various media assets, and will
work in conjunction with MediaBay to create membership clubs
specifically geared towards fans of the product line. Specific terms of
the revenue sharing agreement were not disclosed.
Commenting on the transaction, Norton Herrick, Chairman and CEO of
MediaBay, stated, "As a leading benefactor of the recent surge in
interest in classic movies, we believe that AMC is an ideal company to
work with on such a unique and exciting project. Their tremendous
customer base, combined with our vast catalogue of nostalgic radio
programming will create a perfect union for the marketing and
distribution of such a unique product line and we look forward to a
long and mutually beneficial relationship. By expanding our line of
classic radio content, coupled with an aggressive promotion of the
products through the popular AMC network, we believe that we can
quickly realize significant growth in both revenues and profits for our
Radio Spirits division."
Added Noreen O'Loughlin, General Manager of AMC, "As the largest
provider of classic radio content, MediaBay is an ideal Company to
support AMC's brand extension strategies by including radio adaptations
of many of the most popular films from the 30s, 40s and 50s. Through
our new line of 'AMC Audio Movies to go', film and radio enthusiasts
can experience this exciting content while driving, exercising or
performing any number of other tasks."
About American Movie Classics American Movie Classics is the premiere
24-hour movie network featuring award-winning original productions
about the world of American film. With one of the finest, most
comprehensive libraries of classic films from the 1930's through the
1980's and a diverse blend of original series, documentaries and
interstitials, the service offers in-depth information on timeless and
contemporary Hollywood classics. Through the network's multiple
platforms -- AMC's website (http://www.amctv.com), AMC's original
broadband programming and AMC Magazine -- the entertainment provider
informs passionate movie fans about the history behind the films. AMC
is available in 71 million homes.
About MediaBay, Inc. MediaBay, Inc. is the dominant provider of premium
spoken word audio content and products in hard goods and digital
download formats both online and offline which it markets to its
customer database of over 2.1 million names. MediaBay, Inc. is the
world's largest marketer of audiobooks through its Audio Book Club
membership club which markets and sells over 70,000 audiobook titles
through direct mail and the Internet at audiobookclub.com.
MediaBay, Inc. is also the world's largest marketer of old-time radio
shows and classic videos through its Radio Spirits subsidiary which
markets and sells its content library of over 60,000 radio shows and 3,
500 videos on audio cassette, compact disc and video cassette through
direct mail, retail and radio channels, as well as through
radiospirits.com and videoyesteryear.com.
Launched earlier this year, the Company's MediaBay.com media portal
site, located at mediabay.com, is an innovative content and
e-commerce website offering the Company's millions of customers and
website visitors a single location for premium spoken word content and
products available in hard goods and secure digital download formats.
The MediaBay.com network of websites includes
audiobookclub.com, audiobook.com,
radiospirits.com, videoyesteryear.com, and
downloadbay.com. The company's shareholders include Time
Warner, Sony, Harvard Management Company Inc. on behalf of Harvard
College and a fund advised by Soros Fund Management LLC. |
