PNEC NEWS (for those that haven't seen it yet):
Friday May 1, 8:00 am Eastern Time
Company Press Release
Planet Entertainment Announces Agreement With
Atlantic Coast Digital Concepts to Begin Music Internet
Distribution Over Its Web Site
MIDDLETOWN, N.J.--(BUSINESS WIRE)--May 1, 1998--Planet Entertainment Corp. (OTC BB:PNEC - news) has announced today that it has signed an agreement with Atlantic Coast Digital Concepts to expand its web site in order to aggressively market its proprietary music catalog of
over 15,000 titles, as well as an additional 100,000 commercially available titles.
The company plans to aggressively market over the Internet and make its catalog available for consumer downloading on home PCs while continuing to seek additional traditional distribution partners throughout the world.
Atlantic Coast Digital Concepts, headed by Daniel A. Johnson/CEO, specializes in new media technologies and content development. Its clients have included IBM (NYSE:IBM - news), Time Warner (NYSE:TWX - news), Sunshine Interactive, Sonicnet and AT&T (NYSE:T - news).
Atlantic has recently built the website for musician Joe Jackson and is currently in negotiation with other musical groups that plan to sell direct to consumers via the Internet. Daniel A. Johnson has been one of the pioneers of multimedia enhanced audio CDs.
Planet Entertainment's catalog of master recordings include such artists as The Tokens, Fats Domino, Gladys Knight & The Pips, Percy Sledge, Ike & Tina Turner, Kenny Rogers, Willie Nelson, Waylon Jennings, B.B. King, Johnny Winter, Freddie Fender, Herbie Hancock, Charley Parker, Dizzy Gillespie, Miles Davis, Luciano Pavarotti and many others. Nippon Columbia is releasing 50 Planet Entertainment CD albums throughout the Far East on June 20 under the label of PNEC Groovers.
Joe Venneri, president of Planet Entertainment, stated, ''This alliance with Daniel Johnson and Atlantic Coast Digital Concepts will enable Planet Entertainment to enter the arena of Global Internet Music Marketing and consumer downloading, while making our company competitive with N2K (NASDAQ:NTKI - news), CD-Now (NASDAQ:CDNW - news) and K-TEL (NASDAQ:KTEL - news).''
For further information, contact Raymond L. Bary at NIBAR Group at 415/439-4857. Additional information can also be obtained at www.stockwire.com.
Contact:
NIBAR Group
Raymond L. Bary, 415/439-4857
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