iBIZ Technology in Exclusive Agreement With Eline Entertainment to Develop, Host Streaming Music Video Site
PHOENIX, Oct. 12 /PRNewswire/ -- iBIZ Technology Corp. (OTC Bulletin Board: IBIZ), a provider of data center/co-location services, manufacturer of PDA/handheld accessories and cabling for business infrastructure and networks, today announced an exclusive agreement with Eline Entertainment Group Inc., (Eline) (OTC Bulletin Board: ELNE), a provider of music recording and production services to independent artists and music labels and a wholesaler and retailer of music products and related services, to develop and host VidBox, a music video site to stream music videos worldwide over the Internet.
Under terms of the agreement, iBIZ will, through its state-of-the-art data center and Web-hosting facility, develop and host the VidBox site, deliver VidBox content, and provide all hardware, technical support staff and facilities required to stream music videos to a worldwide audience. Eline will finance all of iBIZ' development costs and all ongoing operational costs. Both parties will share equally in the profits from the VidBox venture.
In an extension of its current business, Eline will offer independent music artists and labels VidBox as an opportunity to gain airtime and visibility by streaming their music videos online. Upon completion of the development phase of the VidBox project, expected by January 2002, music fans will be able to go to VidBox and choose initially from 10 different channels broadcasting 24/7. VidBox is expected to offer up to 300 music video channels upon final completion of the project.
Anthony Fasulo, Eline president remarked: "We chose iBIZ as our partner for this key project due to the technological capabilities of their data center and expertise of their staff. iBIZ also has the overall experience needed to ensure smooth, continuous on-demand transmission and reception of the music videos. VidBox wouldn't be possible without an experienced, highly-qualified technology partner like iBIZ."
Ken Schilling, iBIZ president and CEO, commented: "We are extremely pleased with this opportunity to support Eline with its music video venture. We expect music video streaming to become even more popular with music and music video fans, as streaming quality continues to improve and as music artists move toward greater online airtime, including more live Web casts of their concerts and other performances."
"From a financial standpoint, this strategic alliance with Eline is expected to become a significant contributor to data center revenue growth, not only from anticipated profits from VidBox but also from expected increases in bandwidth usage and related hardware and technical service requirements," added Schilling.
About Eline
Eline Entertainment Group, Inc. is an entertainment company that maintains an Internet presence designed to fit the needs of independent artists and labels. The web site network is an outlet for artists and companies seeking to sell their music, both domestically and internationally, through the Internet.
Eline Entertainment Group, Inc. "Is not just a dot com Company." Eline maintains a full service recording studio in Nashville, TN, that provides all production and music needs of artists. For more information on Eline, go to www.Elinemusic.com.
About iBIZ Technology
iBIZ is a leading manufacturer and distributor of accessories for personal digital assistant (PDA) and handheld devices. iBIZ is recognized for innovative, high-quality, competitively-priced products available through major retailers. iBIZ also creates, develops and hosts business Web sites through its co-location data center. iBIZ cabling services enable data/voice networks, wireless and fiber optic telecommunications systems, build-outs, and plant infrastructure. For more information on iBIZ products and services, go to www.ibizcorp.com or e-mail to sales@ibizcorp.com or call 800-234-0707.
Forward-looking statements in this release relating to financing, profits, sharing arrangements, completion dates, and revenue growth are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties including, without limit, market competition, demand for the Company's products and services, technological change, dependence upon suppliers, and other risks described in the Company's Form 10-KSB for the year ended October 31, 2000 |
