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Gold/Mining/Energy : MODERN RECORDS INC. (MZR.V & MDNR.OTC) -- Ignore unavailable to you. Want to Upgrade?

To: bcjt who wrote (140)	8/17/1999 10:02:00 PM
From: bcjt	Read Replies (1) \| Respond to of 188

Modern Records' global distribution rights to be acquired by MCY.com Modern Records Inc MZR Shares issued 19,680,000 Aug 16 close $1.05 Tue 17 Aug 99 News Release Mr. Randy Jackson reports Modern Records has entered into an agreement with MCY.com, Inc. of New York, whereby MCY.com acquires the global digital distribution rights of current and future artists catalogue on the Modern Records label. MCY.com's proprietary digital downloading technology is revolutionary and it prevents piracy, which has been the main problem in the past with MP3s in the recording industry. MCY.com will be offering all of the company's Stevie Nicks' solo albums, including titles never before released. In addition, MCY.com will digitally distribute other Modern Records music including Natalie Cole, Jeffrey Osborne, Foghat and the long-awaited new release by the Jacksons. MCY.com will also acquire the digital distribution rights of the debuts of the next-generation of new artists that the company is producing. MCY.com intends to globally showcase and drive sales for these new company artists through the MCY.com Web site network and cutting-edge NETrax distribution technology. MCY.com is a global on-line retailer of encrypted digital music. NETrax is the proprietary MCY.com technology that prevents illegal downloading and provides copyright protection, rights management and sales tracking for rights owners, including artists, publishers, producers and record labels. MCY.com controls one of the largest exclusive catalogues of retail digital downloads. MCY.com is headquartered in New York and has offices in Los Angeles and Munich. MCY.com shoppers can purchase digital tracks ranging from 99 U.S. cents to $1.99 of which the company will receive a 60-per-cent share and MCY.com will receive 40 per cent. Since there are no other significant costs involved with this transaction from Modern Records' side this revenue will be more or less net profits for Modern Records. MCY.com recently made global music history by drawing over 10 million hits to its live cybercast of the June 27, Michael Jackson and Friends benefit concert. MCY.com provided real-time on-line chats between fans, artists and celebrity guests including Randy Jackson. Randy Jackson, president and chief executive officer of Modern Records, stated: "This agreement with MCY.com is a major step in our growth strategy. Modern Records already owns a significant catalogue of world-class artists. At present we are looking into acquiring other catalogues and producing catalogues from both new and established artists on our label. MCY.com gives us a completely new source of income that had never been explored by Modern Records before. Modern Records is getting involved over the Internet today with MCY.com and a technology we believe will revolutionize global on-line distribution". Bernhard Fritsch, CEO and Founder of MCY.com, stated: "We are extremely excited to be releasing such amazing artists -- including many tracks that have never been heard before by the public. Our work with Modern Records will be a wonderful demonstration of MCY.com's ability to help artists and labels globally deliver unreleased music with no risk and at next to no cost". WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com bcjt