Payforview.com Set to Acquire Innovative Music Label Street Solid Records
CARSON CITY, Nev.--(BUSINESS WIRE)--Jan. 26, 1999--Payforview.com (OTC BB:PAYV - news) is pleased to announce that it has signed a Letter of intent and is in negotiations for the purchase of Los Angeles based STREET SOLID RECORDS (''Street Solid'').
STREET SOLID is a cutting edge record company utilizing known artists, strong production and innovative marketing. In addition to traditional distribution Payforview intends to build a strong Internet distribution component.
Marc Pitcher, Payforview's President, says that the addition of STREET SOLID to Payforview's Entertainment Group will give the company a foothold in the Internet distribution of audio entertainment.
''We believe that when building an Internet based Entertainment company, the key to success is an excellent variety of marketable content'', says Pitcher. ''By including STREET SOLID in our plans we give ourselves the ability to create our own content for distribution over the net, while also allowing Payforview to benefit from sales through traditional distribution.''
Warren Wayne VP of Licensing and Acquisition agreed, saying that STREET SOLID brings an excellent line-up of talent to Payforview.
''The artists that are recording with STREET SOLID are of an international caliber and we look forward to assisting these artists in developing their music and offering it to a Worldwide public through the new medium of Internet distribution. ''Wayne continued, saying, ''The Company is looking toward the future and has plans to utilize technology which will allow consumers to download completed CDs direct to disk using their own CD burner. Consumers could print the CD cover using their own at home printer. It's the future of music distribution.''
STREET SOLID RECORDS will premiere with new releases by Platinum selling recording artists such as ABOVE THE LAW, RBX and Double Platinum recording artist FATHER MC. Recording artist FATHER MC, who will follow-up with his initial success at UPTOWN/MCA by releasing his next album ''NO SECRETS'' on the STREET SOLID label. Recorded in L.A. and Atlanta, the highly anticipated album will be released in the Spring of 1999, preceded by the single ''I'MA DO ME.'' FATHER MC was one of UPTOWN/MCA's original hit artists, where he helped launch the careers of some of the industry's biggest sellers, including SEAN ''PUFFY'' COMBS, MARY J. BLIGE and K-Cl & JOJO of JODECI.
The legendary rap group ABOVE THE LAW joins STREET SOLID hot on the heels of their last album ''LEGENDS'' being voted No. 2 Album of the Year By A Group, in the leading publication RAP PAGES year end Poll. ABOVE THE LAW, originally discovered and signed by the late legendary EASY-E and DR. DRE. had an illustrious ten year career recording for SONY & TOMMY BOY RECORDS. Leading off their release is the single ''SMOKE'' that is also featured on the motion picture soundtrack to the new film ''FAKIIN'DA FUNK'', starring PAM GRIER, TATYANA ALI and JOHN WITHERSPOON.
Recording artist, RBX, is the cousin of leading rap star SNOOP DOGG and was a major musical force behind DEATH ROW Records meteoric $100+ million sales. He is a featured artist and hit songwriter on the classic album ''THE CHRONIC'' by DR.DRE and SNOOP DOGG, which has sold over 8 million copies. His STREET SOLID debut album ''BACK TO ATTACK'' is highly anticipated in the urban music community and led off by the single ''HEATMIZER''.
As President of STREET SOLID Jay Warsinske brings with him over 25 years of experience and credits in the music industry. He has worked with U2, REM, N.W.A, THE POLICE and STING, DR. DRE, THE GO-GO'S, TUPAC SHAKUR, ICE-T and many more. He has worked on the promotional campaigns of hundreds of albums, including many gold and platinum success stories. His tremendous background and innovative leadership prepares STREET SOLID for success in the new millennium.
STREET SOLID is attending the CANNES MIDEM MUSIC MARKET commencing January 24th, 1999. Attending will be President Jay Warsinske and Sales Agent Rene Klassen. The Company expects to sign international distribution agreements and to introduce the label to industry executives, buyers and insiders. Domestically, STREET SOLID has a distribution agreement with NAVARRE for release in the US and Canada.
A completed purchase agreement would give Payforview.com 100% of STREET SOLID RECORDS, for shares in Payforview, equal in value to $2.5 million dollars, and a funding commitment of up to $1.2 million dollars over 12 months.
Payforview.com is an Internet based entertainment company which intends to distribute movies and other filmed entertainment direct to viewers on a pay-for-view and retail basis. Through the purchase of Voyager International Entertainment on January 4, 1999, payforview is set to acquire the Internet broadcast and DVD (Digital Video Disk) rights to an extensive, 1400 film library. Additionally, payforview.com intends to negotiate with other content providers and distributors to acquire the Internet broadcast and DVD rights to other films and music.
ON BEHALF OF THE BOARD OF payforview.com
Marc A. Pitcher President
CERTAIN INFORMATION INCLUDED IN THIS COMMUNICATION (AS WELL AS INFORMATION INCLUDED IN ORAL STATEMENTS OR OTHER WRITTEN A STATEMENTS MADE OR TO BE MADE BY Payforview.com) CONTAINS STATEMENTS THAT ARE FORWARD-LOOKING, SUCH AS STATEMENTS RELATING TO THE FUTURE ANTICIPATED DIRECTION OF THE INTERNET INDUSTRY, PLANS FOR FUTURE EXPANSION, VARIOUS BUSINESS DEVELOPMENT ACTIVITIES, PLANNED CAPITAL EXPENDITURES, FUTURE FUNDING RESOURCES, ANTICIPATED SALES GROWTH AND POTENTIAL CONTRACTS. THESE FORWARD STATEMENTS ARE SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL OPERATIONS OR RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED
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