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G Generation Entertainment (OTC BB: GNEN ) may quite be one of the largest unrecognized internet plays to date. Generation Entertainment already owns two records labels, has promotional agreements with others and is in the process of acquiring yet another successful label, Slipdisk-2K. That company's senior partner, David Chackler, will add his 30 years of experience in the record business to Generation's already impressive management team. Dec. 3, 1998-- Generation Entertainment has signed a Letter of Intent with David Chackler, to acquire their newly formed label Slipdisk-2K. Slipdisk-2K is headquartered in Chicago and distributed through Polygram Distribution via Mercury Records. April through September 1998 produced over one million in revenues, which should more than double over the next six months. Dec. 9, 1998--Generation Entertainment announced that it has purchased cdmusic.com that had initially begun in 1995. After acquiring the company, Generation took the store offline for a complete remodeling. New graphics, software and security packages will be installed to take the site into the 21st century. Market Tracking International (MTI) recently released a report showing that Internet music sales internationally will be generating some $3.3 billion by the year 2004. Generation plans to be a major player in that market. The MTI report says that downloaded music purchases will eventually account for 10 to 15 percent of overall Internet sales. Dec. 21, 1998--Generation Entertainment announced that Amazon.com has accepted the company as an 'Associate'. It means that Generation Entertainment's newly acquired web site, CDMusic.com, will be able to provide direct access to Amazon's inventory and will be compensated for a percentage of the sales. As part of the Amazon.com Associates Program, CDMusic.com will prominently display the Amazon.com logo. In turn, Amazon will publish a linked message identifying CDMusic.com as an Associate and endorsing its services. The message will also encourage visitors to the CDMusic.com site to shop for quality products, with a guarantee of the same high level of customer service that Amazon.com provides. In the process of becoming an Associate with Amazon.com, Generation Entertainment had to show that the site would be operated in such a manner as to earn the Amazon endorsement. The site is set to debut under Generation Entertainment ownership early in the first quarter of 1999 and will feature more than 198,000 titles in music and video offerings. The cyber shopper will be able to easily navigate through the various categories of music and videos, including a powerful search engine capability to assist visitors in finding various titles with key words or artists. Buyers will be able to make direct purchase of their music selections through downloading. Generation, of course, will no doubt give prominent exposure to titles under its own record labels; Harvest and Copper Sun, plus other labels soon to be acquired or with whom Generation has working agreements Shares Outstanding: 10,.300,000 Restricted: 6,000,000 Float: 3,300,000 Generation Entertainment Corp 520-886-7918 | ||||||||||||||
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