NAVR news
(COMTEX) B: Navarre Corporation Signs Strategic Alliance With EMI Can
B: Navarre Corporation Signs Strategic Alliance With EMI Canada and Page
Distribution
MINNEAPOLIS (Oct. 2) BUSINESS WIRE -Oct. 2, 1998--Navarre Corporation
(NASDAQ: "NAVR") announced today the signing of a strategic alliance by
its newest business unit, Navarre Canada, with EMI Canada and Page
Music Distribution. The new alliance expands the company's current
music operation deeper into North America, accessing more than 30
million additional consumers.
Navarre Canada has retained Tim Williams as a consultant to advise
with staffing, sales, marketing, and operations. Williams is a
twenty-five year veteran of the Canadian music industry, the last
twenty of which were at RCA-BMG Music Canada, most recently in the
position of Vice President, National Sales and Customer Service.
The alliance combines Navarre's vast catalog of more than 50 different
music labels with the existing sales and operational strengths of
Canada's EMI/Page Distribution. Top American artists that are available
through Navarre Canada include: Mannheim Steamroller (with
multi-platinum selling Christmas CDs), Vonda Shepard (from the hit Fox
TV series, Ally McBeal), Charlie Daniels (veteran country/blues
fiddler), Kenny Rogers (a Top Ten-selling artist of all-time), and Nate
Dogg (a top American urban artist).
Guy Marsala, Chief Operating Officer of Navarre Corporation stated,
"The Canadian marketplace provides an exciting opportunity to expand
our business. By partnering with Page and EMI, we can take advantage of
the expertise and systems that they have in place and hit the ground
running for the Christmas selling season. With the commitment of our
new partners and the guidance of Tim Williams, I am confident this will
be an extremely successful venture for our labels, their artists, and
all parties involved."
Deane Cameron, President of EMI Canada stated, "I welcome Navarre's
entry into the Canadian marketplace and believe it will be an extremely
rewarding venture for them, their roster of labels and impressive group
of artists."
Victor Page, President of Page Music Distribution, Inc. said, "Page
Distribution and EMI Canada have had an existing partnership that has
been working very effectively to cover the marketplace. The addition of
Navarre's content gives us the critical mass we need to fully leverage
our sales and operational capabilities."
The Navarre Corporate Profile is available through Dresner Corporate
Services at 312-726-3200, extention 205.
A Navarre Corporation Research Report is available through Delphi
Financial Services at 612-338-1774.
Navarre Corporation's major business groups are: Computer Products
Division which publishes and distributes quality consumer software to
retailers nationwide; Independent Music Distribution which is the major
distributor of independent music labels in the United States and now
Canada; ARM which distributes major label music to non-traditional
retail outlets; DVD Home Video distribution; and the majority owned
subsidiary NetRadio Network is the premier Internet radio network
featuring 150 channels of originally programmed audio content
(www.netradio.net). Navarre Corporation's peers include Ingram Micro
(NYSE: "IM"), Handleman Company (NYSE: "HDL"), Merisel, Inc. (NASDAQ:
"MSEL"), CDNow (NASDAQ: "CDNW"), Polygram NV (NYSE: "PLG"), N2K, INC.
(NASDAQ: "NTKI"), K-Tel International (NASDAQ: "KTEL").
This press release contains certain forward-looking statements within
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,
which are intended to be covered by the safe harbors created hereby.
Statements in this release that are not strictly historical are
"forward looking" statements which are subject to risk and uncertainty.
Investors are cautioned that all "forward-looking" statements contained
herein may not be reasonable and assumptions could be inaccurate, and
should not be construed, considered or assumed as guarantees. The
inclusion of such information should not be regarded as a
representation or guarantee, by the Company, or any other person, that
the objectives and plans, stated herein, will be achieved. Unknown
factors could cause actual results to differ as well as other risks
detailed in the Company's reports filed with the Securities and
Exchange Commission, including its prospectuses, 10K and 10Q filings.
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