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Leading Entertainment Industry Entrepreneur Michael Jay Solomon Named Chairman, President and CEO of The Entertainment Internet
Tuesday, January 18, 2000 06:15 AM
Appointment Confirms Company's Plans for Rapid Expansion, Investment And Diversity of Castnet.com, Its On-Line Casting Services
HOLLYWOOD, Calif., Jan. 18 /PRNewswire/ -- Industry veteran Michael Jay Solomon has been named chairman, president and chief executive officer of (TEI) The Entertainment Internet (OTC Bulletin Board: EINI) as announced today by Mohamed Hadid, interim chairman of the company. TEI is the parent company of Castnet.com(TM), an Internet theatrical and television database for casting directors and agencies.
Acknowledged as an entrepreneur who has consistently exhibited a keen awareness of the entertainment industry and projected where it will experience its next major growth, Solomon, as part of his non-exclusive deal, will initially be responsible for the expansion and diversity of Castnet.com's(TM) on-line services. Solomon will share the company leadership of TEI with interim chairman Mohamed Hadid and chief operating officer Jeremy Schuster.
"Michael brings extensive experience in all aspects of the entertainment world; there is no better leader for a publicly traded company on a growth track executing an expansion plan," commented Hadid.
"He is one of the few people capable of exceeding the pace of the entertainment industry and will prove a true asset to the corporation," added Schuster.
Currently, TEI's Castnet.com(TM) electronic communities help actors, casting directors and talent agents electronically communicate with each other and receive instant responses to specialized data searches. TEI's Castnet.com(TM) systems provide users with access to a sophisticated virtual private network that offers security, performance and reliability matched to the needs of the entertainment industry. TEI's database resources and Castnet.com(TM) services are used by over 300 casting directors, 185 guild franchised agencies and 32,000 actors across the U.S., with additional subscribers being added daily through on-line enrollments.
"Acknowledging the recent activity between the entertainment marketplace and the Internet, I am looking forward to drawing upon my resources and affiliates to build an organization of global proportions," said Solomon. "Together we are building a team to develop Castnet.com(TM) services in New York, Paris, Rome and Latin America and expect the Castnet.com(TM) sites to be the focus for the entertainment, fashion and leisure industries."
Solomon began his career in distribution by loading films onto trucks for United Artists at the age of 18 in 1956. He quickly moved up the ladder where, at age 24, he became the youngest field manager in the history of the motion picture industry when he headed up the United Artists offices in Lima, Peru. In 1964 he started up MCA's Latin American Division while based in Mexico. He later moved to Brazil and by age 30 became MCA's youngest vice president.
In 1978, he co-founded Telepictures Corporation, which went on to become the largest U.S. television syndication company under his leadership as chairman and chief executive officer. In 1985, when Telepictures merged with Lorimar to form Lorimar Telepictures, Solomon became the new company's president and served on its board of directors. In 1989, when Lorimar Telepictures was acquired by Warner Bros., Solomon became president of Warner Bros. International Television, a post he held until 1994, when he formed his own international telecommunications company, Solomon International Enterprises, which is involved in various areas of the entertainment industry.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements involving risks and uncertainties that may cause actual future events or results to differ materially and adversely from those described in the forward-looking statements. Important factors that may cause such a difference for The Entertainment Internet Inc. include, but are not limited to, risks of delays in preparation and introduction of new services; dependence on outside and third-party service providers, consultants, and attorneys; dependence on third-party software developers for a significant portion of new products and services; risks of rapid technological change and platform change; intense competition; risks of product defects; dependence upon licenses from third parties; risks associated with present and future capital requirements; dependence upon key personnel, and risks associated with domestic business, intellectual property disputes and other factors discussed in the company's filings from time to time with the Securities and Exchange Commission. The Entertainment Internet Inc. disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.
SOURCE Entertainment Internet
CONTACT: Sheila Morris of Morris Marketing, 818-487-9300, sheila@morrispr.com, for The Entertainment Internet
Quote for referenced ticker symbols: EINI
¸ 2000, PR Newswire
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