Vialta Licenses EMI Music Library; Vialta Will Offer an Extensive List of EMI Artists on ViMagazine
FREMONT, Calif., March 18 /PRNewswire-FirstCall/ -- Vialta, Inc. (OTC Bulletin Board: VLTA - news), a developer of digital home entertainment products and services, has entered into a licensing agreement with EMI-Capitol Music Special Markets, a division of EMI Recorded Music, the world's third-largest record company. The licensing agreement allows Vialta to include current music, as well as catalog music from EMI's extensive library, in ViMagazine.
ViMagazine will contain a wide variety of entertainment content -- from song singles to feature films, concerts, cartoons and lifestyle programs. Some of the content is free, while the rest remains locked on the DVD-format disc, accessible for rental and purchase. ViMagazine's proprietary technology is compatible with ViDVD players, and enables customers to access content in a simple yet secure manner that inherently protects the copyright holder and music provider. Scheduled to launch summer 2002, ViMagazine represents a new distribution system, delivering entertainment content directly to a ViDVD-owner's home on a monthly basis.
``With ViMagazine, music lovers can preview 30-second clips of each EMI song,'' stated Didier Pietri, president and chief executive officer of Vialta. ``ViMagazine's instant access feature eliminates time-consuming downloads, making it much quicker and easier to buy the music than other currently popular methods. Customers can pick the singles they like without ever connecting to the Internet, quickly building a personal digital music library to enjoy on their home sound system for years to come,'' Mr. Pietri added.
``This agreement provides ViMagazine with a strong core list of music titles, an impressive addition to the 7000+ popular, video-based entertainment programs that we have already licensed. With one click of their ViDVD remote control, ViMagazine customers can easily access a title from the convenience of their home,'' Mr. Pietri concluded.
``ViMagazine is an innovative distribution system which enables us to expand the reach of our artists' music. With the ever-increasing demand for digital delivery, ViMagazine provides a unique means of meeting that need,'' said Adam Varon, Vice President of Business Affairs for EMI-Capitol Music Special Markets.
About EMI
A division of EMI Group, EMI Recorded Music is the world's third largest record company. It operates in nearly 50 countries around the world, has a roster of over 1,500 artists and releases more than 1,000 albums a year. Its record labels include Angel, Blue Note, Capitol, EMI:Chrysalis, EMI Classics, Virgin, Parlophone and Priority. EMI's website address is: emigroup.com .
About Vialta
Vialta, Inc. is a developer of consumer electronics and digital home entertainment products that embrace the convergence of entertainment, audio, video, communications and the Internet. The company's products offer an effective, convenient and secure means of delivering digital content and information to the consumer. Vialta was formed in July 1999 with an initial funding of $140 million, and is publicly traded on the OTC Bulletin Board under the symbol ``VLTA''. The company is headquartered in Fremont, California with offices in Los Angeles, Toronto, Hong Kong and Beijing. More information about Vialta can be found at www.vialta.com
The matters discussed in this news release include certain forward-looking statements that involve risks and uncertainties, including, but not limited to, the possible reduction of consumer spending occasioned by terrorist activity and armed conflict, the timely availability and acceptance of the Company's new products, the impact of competitive products and pricing, the dependence on continued growth in demand for PC and consumer multimedia products, the fact that the initial determinations described herein are subject to further review and appeal, and the other risks detailed from time to time in the SEC reports of Vialta, including the reports on Form 10-K and Form 10-Q. Actual results could differ materially from those projected in the forward-looking statements.
SOURCE: Vialta, Inc. |
