Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : PNEC - Planet entertainment ready to spin gold -- Ignore unavailable to you. Want to Upgrade?

To: Jim B who wrote (28)	4/13/1998 3:52:00 PM
From: emergencyops	Respond to of 221

NEWS Monday April 13, 3:12 pm Eastern Time Company Press Release Planet Entertainment Announces Nippon Columbia to Release First 50 Albums in the Far East to Begin June 20 and a South Africa Joint Venture MIDDLETON, N.J.--(BUSINESS WIRE)--April 13, 1998--Planet Entertainment Corporation (OTC BB:PNEC - news) announced today that Nippon Columbia has confirmed June 20, 1998 as its release date for 50 CD albums. The CD's will be released under ''PNEC Groovers'' with various press, distributors and retailers being notified now. A second 50 CD albums are scheduled to be released by year end. Nippon Columbia target sales call for a minimum of 2,000 albums sold per title per month which would bring in over $2 million (USD) gross profit to Planet over the next 18 months, in accordance with its distribution agreement with Nippon Columbia of July 1997. Planet feels these projections would be surpassed once market penetration and product awareness are achieved in the Far East. Industry statistics report 60% of a new release is sold within the first six months of that release. Planet Entertainment has also announced a Joint Venture agreement with Shandel Music covering the South African territory. Shandel will ensure the successful release of Planet's catalog product to include ''Premium'' product compilations for chain stores, individual sub-licensing, and general retail release. New and previously unreleased product from Planet Entertainment will be sold and distributed by Sony Music Entertainment (South Africa) in terms of an existing agreement between Sony and Shandel Music. Sales are to begin mid-summer 1998. Planet Entertainment Corp. owns a 15,000 master recording catalog and is engaged in the producing, licensing, acquisition, marketing and distribution of high quality recorded music for all varieties of music, video and motion picture formats. Planet, through its interactive division, is working to create CD's that will provide a seamless link to the Internet and is currently releasing both audio and enhanced CD's that contain multi-media, playable on computers, as well as, audio systems that have a CD-Rom Drive. Announcements concerning additional markets of distribution will be announced as soon as agreements are finalized. For further information, please contact Raymond L. Bary at the NIBAR Group at (415) 439-4857. Additional information on Planet Entertainment can be obtained at www.stockwire.com. ------------------------------------------------------------------------ Contact: NIBAR Group Raymond L. Bary, 415/439-4857