News today confirms management's decision to transform PDSE into an internet content provider. Could be enuf to move out of the doghouse.
YAHOO! INTERNET LIFE ONLINE FILM FESTIVAL
SET TO KICK OFF WITH PARADISE DIGITAL
PRODUCTIONS AS EXCLUSIVE PRODUCER OF
MARCH 22-23 EVENT BUSINESS EDITORS NEW
YORK AND HOLLYWOOD, CALIF.--(BUSINESS
NEW YORK and HOLLYWOOD, Calif.--(BUSINESS WIRE)--March 16,
2000--Paradise Digital Productions (PDP), a newly formed Internet
content developer subsidiary of Paradise Music & Entertainment, Inc.
(NASDAQ:PDSE.B), and Yahoo! Internet Life, a magazine published by
Ziff-Davis Publishing, jointly announced today that Paradise is in the
final stages of preparation for the production of the entire upcoming
Yahoo! Internet Life Online Film Festival.
The Festival will be held in Hollywood on March 22-23, the same
week as the Academy Awards, and will include numerous participants
from the traditional film world as well as the online community.
Event speakers slated to present include Peter Guber, Roger Ebert,
Kurt Andersen, Frank Biondi and Mike Figgis. The event will be
cybercast, Sunday, March 26th, 2000 on Yahoo! Broadcast. "We are
pleased that the Paradise Digital Productions creative team is
producing our First Annual Online Film Festival," stated Jesse Jacobs,
the Festival Director. "PDP shares our vision and excitement in
presenting an event highlighting the fast-growing use of the Internet
as a state-of-the-art medium for distributing digital entertainment."
Jesse Dylan, Chairman and Chief Executive Officer of Paradise,
added, "The Yahoo! Internet Life Online Film Festival is an exciting
opportunity for our new division. This cutting-edge event parallels
our focus on the convergence of the entertainment and online worlds,
and we are very pleased to be involved with all of the talented
individuals and companies associated with the Festival." Mr. Dylan,
continued, "This marks Paradise's first opportunity to work in
partnership with Yahoo! Internet Life, and we believe that based on
the Festival's eventual success, we will be able to work with them
again in the future."
Yahoo! Internet Life's emphasis on integrating the new media into
the old is emblematic of the magazine's own history. The first print
magazine to cover the Internet for a consumer audience, Yahoo!
Internet Life has now become one of the fastest-growing consumer
magazines in the country. The magazine has been covering online film
since its inception and will take the medium to the next level with
the Online Film Festival. Participants include, AtomFilms, CinemaNow,
Crushed Planet, Eveo, Honkworm, Crushed Planet Entertainment, iFilm,
IMDb.com, Hitplay Media, Mandalay, Pop.com, Reel.com, Shockwave,
SightSound.com, Sony Screen Gems, and many others to make this one of
the most important events for the future of the film and the Internet.
The festival is generously sponsored by Sony, Sun,
BeautyJungle.com, OnStream, Yack.com, BigStar.com Honkworm, The New
York Times, The Hollywood Reporter, Filmmaker Magazine, Sundance
Channel, Yahoo! Movies, Food.com and Skyy Vodka.
Yahoo! Internet Life is a monthly publication with a rate base of
900,000. It is published by Ziff-Davis Publishing, the largest
computing and Internet magazine publisher and the sixth largest
magazine publisher in the United States. With more than 80 worldwide
publications serving the consumer and business-to-business markets,
Ziff-Davis' publications cover everything from the Internet economy to
family computing and gaming. In the U.S., Ziff-Davis publishes PC
Magazine, PC Week, Ziff-Davis SMART BUSINESS for the New Economy,
Yahoo! Internet Life, eShopper, FamilyPC, Inter@ctive Week, Sm@rt
Reseller, Computer Gaming World, Official U.S. PlayStation Magazine,
Expert Gamer, Electronic Gaming Monthly and Macworld through a
joint-venture with International Data Group (IDG). In December 1999,
Ziff-Davis Publishing announced an agreement to be acquired by Willis
Stein & Partners in partnership with James D. Dunning, Jr. The sale is
expected to close in March 2000.
Paradise Music & Entertainment, Inc. is an artist-centric
entertainment company comprised of three complementary units: Paradise
Film Group (Straw Dogs and Picture Vision - television commercial,
music video, live event and film and video productions); Paradise
Music Group (Paradise Record Group, All Access Entertainment and Rave
Music - record labels, producer of original music for film and
television and full-service music artist management); and Paradise
Digital Entertainment Group (Paradise Digital Productions - Internet
content development). Paradise also has a production and strategic
investment relationship with Eruptor Entertainment, Inc., producer of
eruptor.com, a cutting-edge entertainment and leisure
Internet destination site targeting "Generation Y" males.
Legal Disclaimers: This Press Release may contain forward-looking
statements with the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Investors are cautioned that forward-looking
statements are inherently uncertain. Actual performance and results of
operations may differ materially from those projected or suggested in
the forward-looking statements. The forward-looking statements
contained herein represent the Company's judgment as of the date of
this report hereof, and the Company cautions readers not to place
undue reliance on such statements.
--30--mem/ny*
CONTACT: Paradise Yahoo! Internet Life
Mark Pollard Hilary Carver
Vice President BWR
212/590-2100 310/248-6131 or hcarver@bwr-la.com
or
Paradise Investor Relations
Robert Rinderman
Jaffoni & Collins
212/835-8500 or PDSE@jcir.com |
