Speaking of MoMos. . .
audiohighway.com Enters Into Strategic Alliance with Warner Music Group Including License to Stream Video Content and Equity Stake
Friday July 7, 8:30 am Eastern Time
Company Press Release
CUPERTINO, Calif. & NEW YORK--(BUSINESS WIRE)--July 7, 2000-- audiohighway.com® (Nasdaq: AHWY - news), an Internet-based information and entertainment company, Friday announced that it has formed a strategic alliance with Warner Music Group.
Under the terms of a non-exclusive license agreement, audiohighway.com will pay Warner Music Group for the right to stream Warner Music Group-controlled music videos from its U.S. Web site. In addition, Warner Music Group will purchase a small equity stake in audiohighway.com, providing the Music Group with an opportunity to share in the growth of the enterprise.
Nathan Schulhof, president and chief executive officer of audiohighway.com, said the
company was ``very pleased to enter into this alliance with one of the leaders of the music
industry,'' and that the license to stream video ``will help launch audiohighway.com to even
greater heights.
``Warner Music Group's record labels Atlantic, Elektra, London-Sire and Warner Bros. are
home to established stars and top new artists worldwide,'' Schulhof said. ``Warner has
established a major online presence, which now includes video offerings on the
audiohighway.com Web site.''
The videos will also be integrated into the site's popular My JukeBox service that provides
users with a point and click method to create streamed music programming.
``audiohighway.com has been very successful in attracting music fans to its unique site,'' said
Paul Vidich, executive vice president, strategic planning and business development for Warner
Music Group. ``We are pleased that with this license, audiohighway.com's appeal is further
enhanced, and visitors to the site will have access to great new music from our artists.''
About audiohighway.com
audiohighway.com is a leading online media destination, offering one of the Internet's largest
and most diverse libraries of free audio content. Visitors can access thousands of hours of
music, audio books, news, entertainment, education and information from audiohighway.com in
formats including MP3, RealPlayer and Windows® Media Player, via a variety of audio
channels.
audiohighway.com offers free audio content, which can be streamed directly to PCs for
immediate listening or downloaded for future playback through portable digital audio players.
Consumers can also purchase music, video, games, electronics, software and PCs and
peripheral products through the new www.massmerchandise.com Web site.
About Warner Music Group
Warner Music Group is home to some of the world's leading record companies, including The
Atlantic Group, Elektra Entertainment Group, Rhino Entertainment, London-Sire Records and
Warner Bros. Records, Inc.
The company's Warner Music International, with a roster of more than 1,000 artists, operates
in 65 countries through a network of 47 affiliates, 24 licensees and seven associated labels.
Warner Music Group also includes one of the world's leading music publishers,
Warner/Chappell and WEA Inc., which is comprised of three companies, WEA Corp., WEA
Manufacturing, and Ivy Hill. Warner Music Group is a division of Time Warner Inc.
audiohighway.com is a registered trademark of audiohighway.com. Other trademarks are
properties of their respective owners.
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