Liberty Livewire Corporation to Establish Digital Asset Management & Distribution Center Using Lockheed Martin Technology
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SANTA MONICA, Calif., Aug. 13 /PRNewswire/ -- Liberty Livewire Corporation (Nasdaq: LWIRA - news) and Advanced Software Resources, Inc., licensee of Lockheed Martin Intelligent Library System (ILS)(TM) technology, have agreed to merge their technology and service expertise to establish the Digital Asset Management & Distribution Center. The Center, initially to be located in one of Liberty Livewire's Hollywood facilities, will be the first end-to-end service center for digital encoding, archiving, searching, retrieval and distribution of all forms of media for the film and television industry.
Commenting on the agreement, John H. Donlon, President of Liberty Livewire's Media Management Division, stated, ``We are excited to be teaming up with the world's most experienced provider of digital asset management services. As the entertainment industry positions itself for the proliferation of digital media, we will be able to offer services that will streamline distribution and create new revenue opportunities for studios and content owners.''
The Digital Asset Management & Distribution Center combines Liberty Livewire's entertainment industry and digital media expertise with Lockheed Martin's revolutionary Intelligent Library System (ILS)(TM). ILS was built with software and processes perfected during more than a decade of providing digital imagery storage, manipulation, and distribution systems worldwide for the U.S. government. Liberty Livewire will employ the ILS technology through a co-development and co-marketing arrangement with Advanced Software Resources, and currently plans to launch the Digital Asset Management & Distribution Center in November 2001.
The Digital Asset Management & Distribution Center will provide authorized studio personnel with the ability to search, retrieve, and repurpose content from massively scalable archives. The Center will also incorporate services to encode, transcode, and convert media, as well as protect content integrity. Customers will be able to preview product on-line and share content at multiple locations simultaneously through proprietary technology employing the highest standards of security. With the establishment of the Center, Liberty Livewire provides the entertainment industry the first integrated solution for its vital digital asset management needs.
About Liberty Livewire Corporation
Liberty Livewire provides a wide range of audio and video post-production, transmission, library services, Internet hosting, and audio/video distribution services via satellite and fiber to clients in the feature film, television, and advertising industries. The company has locations in the major entertainment centers, including Los Angeles, New York and London. Liberty Livewire is a majority-owned subsidiary of Liberty Media Corporation (NYSE: LMC.A - news and LMC.B - news), which holds interests in a broad range of video programming, communications, technology and Internet businesses in the United States, Europe, South America and Asia.
About Lockheed Martin
Lockheed Martin, a world leader in aerospace and related technologies, specializes in integrating complex communications and data processing systems into seamless mission-level solutions. Its Intelligent Library System (ILS)(TM) technology has been successfully used to process, archive and securely distribute thousands of terabytes of complex data while preserving data integrity indefinitely. Using proprietary algorithms in a state-of-the- art system architecture, ILS advances the reliability, sophistication and scope of digital asset management.
About Advanced Software Resources, Inc.
Advanced Software Resources (ASR) is a long-term partner with Lockheed Martin in the deployment and operation of the Intelligent Library System (ILS)(TM) technology and holds a license to customize and market the technology for commercial applications.
This press release contains forward-looking statements that are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as ``intends,'' ``believes'' and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors described in the filings of Liberty Livewire Corporation (the ``Company'') with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Liberty Livewire Corporation |
