FUBU Records and Universal Records are preparing
to release The Goodlife, an all-star compilation cd featuring some of
today's hottest urban talent. Currently, the labels are setting up promotions
for the lead single and title track "Goodlife" which will ship
to urban and crossover radio stations in late May. The song, which features
rappers Nate Dogg, NAS and JS of the New Orleans-based up and coming hip-hop
posse, the 54th Platoon, was produced by Allstar (Joe, Koffee Brown).
Slated for release in August, The Goodlife
will mark the first project issued through the joint venture between FUBU
Records and Universal Records. The compilation disc will feature a number
of established artists (Ludacris, LL Cool J, Keith Murray, Mr. Cheeks,
Erick Sermon, Beenie Man, Joe and India.Arie), as well as introduce new
FUBU recording artists (Drunken Master, Lola Damone and 54th Platoon)
to consumers.
FUBU/Universal Records will shoot the "Goodlife"
video in Miami on May 27th. Universal Records is a division of Universal
Music Group, the world's largest leading music company with wholly-owned
record operations or licenses in 63 countries around the world. Its businesses
also include Universal Music Publishing Group, one of the industry's largest
global music publishing operations.
FUBU is one of the world's top-selling sportswear
companies. FUBU Records/FB Entertainment, a division of FUBU The Collection,
was established in 2000 and handles the corporation's film, television
and music ventures. FB Entertainment inked a first-look television and
film deal with Artists Television Group (ATG) this past April
Sticky Fingaz, who made his debut as a member
of the multi-platinum rap group Onyx, is gearing up for the May 22nd release
of his Universal Records solo debut, "Black Trash: The Autobiography
of Kirk Jones."
Sticky's concept album is a dark audio drama
that follows the perils of Kirk Jones, an ex-convict who falls back into
a life of crime after being released from jail. "I'm erasing the
line between movies and music," says Sticky of his cinematic-like
disc. Sticky's alter ego, Kirk Jones, is brought to life by the rapper's
signature raspy voice and emotional delivery, and the album's plot is
laced together by skits performed between each track. Black Trash: The
Autobiography of Kirk Jones features production by Dr. Dre (Snoop, Tupac,
Eminem), The Neptunes (ODB, Noreaga), Ross Robinson (Korn, Limp Bizkit),
Scratch (Busta Rhymes, Q-Tip), Punch (Canibus, Rakim) and Self (Ja Rule,
DMX, Lil' Kim), and includes guest appearances by Raekwon, Canibus, Redman,
Eminem, Rah Digga, Dave Hollister and Superb.
Universal began building anticipation for
the disc late last year with the release of a video for the club anthem
"Get It Up." Next up is "Ghetto," a thought provoking
cut on which Sticky raps that "being ghetto," is a matter of
how you live, not where you live.
Context Media, Inc., the leader in providing
infrastructure solutions for managing the sharing, licensing, distribution
and syndication of digital media assets, today announced the appointment
of recording artist and new media pioneer Todd Rundgren to its Advisory
Board. The board offers Context Media expert advice and high-level access
to potential strategic markets, partners and customers to guide company
management in developing and delivering its groundbreaking technology,
the Context Media Interchange Platform(TM).
"I am delighted to have Todd join our
Board," said Context Media President and CEO Dan Harple. "His
passion for and success in using the Internet to connect directly with
his fans during the creative process is a paradigm that can extend to
other industries and companies wishing to unlock the value of their digital
content assets. Todd's insight will be truly valuable to Context Media
in our efforts to lead in extending digital content to reach all audiences
across all relevant devices."
"I see my association with Dan and the
Context Media team as a significant opportunity to help realize a new
Internet environment -- one that goes well beyond information retrieval,"
said Rundgren. "The company's mission to remove boundaries, increase
venues and secure commerce for valuable content is closely aligned with
my own, and I anticipate the synergy will greatly benefit our common vision
and the success of Context Media."
Rundgren and Harple shared a previous collaboration
during the early development of PatroNet, Rundgren's Internet-based virtual
private network. PatroNet capitalizes on content opportunities by providing
artists with turnkey solutions to build and maintain fan-supported subscription
services.
Todd Rundgren has long been recognized as
an innovator in both music and new media. He has written or recorded over
30 group or solo albums. His record producer credits include Hall &
Oates, Grand Funk Railroad, Patti Smith, XTC, and Meat Loaf. In 1978,
he hosted the world's first interactive concert, broadcast live from the
Warner/QUBE system in Columbus, Ohio. He developed the first digital paintbox
program for personal computers -- the Utopia Graphics Tablet -- marketed
in 1980 by Apple Computer, Inc. In November 1995, he released one of the
world's first full-length enhanced CD's, "The Individualist."
Todd's creative work can be found on his site, www.tr-i.com
and through PatroNet, www.patronet.com .
Rundgren joins other distinguished members
of the Advisory Board, including Brown University's Scholarly Technology
Group (STG) Visiting Chief Scientist Steven DeRose, Ph.D.; and Harvard
Business School Director of Software Development Laurence Bouthillier.
Context Media's Advisory Board is chaired by Brown University computer
science professor and former ACM SIGGRAPH co-founder Andries van Dam.
About Context Media
Context Media has the only technology on the
market today to allow for worldwide sharing, repackaging, experience authoring
and external syndication of digital content. Context Media has developed
an open software solution called the Context Media Interchange Platform(TM),
for the easy sharing, syndication and publishing of content. This technology
infrastructure helps companies extend their content reach, expand their
brand awareness, and create new revenue opportunities with their content
assets. Led by a team of Internet infrastructure innovators, including
former Netscape senior management, and Oscar- and Emmy-award-winning production
professionals, Context Media has received funding from some of the country's
best-known venture capital firms and software platform providers, including
New Enterprise Associates (NEA), Lehman Bros. Venture Capital, Macromedia
Ventures, and Adams Capital Management (ACM).
Context Media's customers and partners include
Discovery Health, ABC News, NBC, MSNBC, CBS, National Geographic, Suretrade.com,
Women.com, Oracle, Sun, RealNetworks, Macromedia, Convera, Akamai, Artesia,
Loudcloud, medium4.com, and Shockwave/Atom Films. Context Media is based
in Providence, RI and has offices in Los Angeles, New York City, Washington
D.C. and Atlanta. For more information, visit Context Media's website
at http://www.contextmedia.com .
- Price is $5 per share or approximately
$372 Million in Cash and Stock
- MP3.com to Provide Leading-Edge Technology
Platform for Management and Distribution of Digital Content
- Multiple Revenue Streams to Enhance
Vivendi Universal's Online Strategy
- MP3.com Will Continue to Function
as an Independent Distributor of Music Content for All Record Labels
and Independent Artists
Vivendi Universal (Paris Bourse: EX FP; NYSE:
V) announced today that it will acquire San Diego-based MP3.com, Inc.
(Nasdaq: MPPP - news)
for $372 million ($5 per share) in a friendly, combined cash and stock
transaction. MP3.com represents a major acquisition and is expected to
strongly reinforce Vivendi Universal's digital efforts in the strategic
areas of online music, subscriptions, branding, technology and all its
content.
MP3.com shareholders have the ability to elect
$5 per share in cash, a number of Vivendi Universal shares (in the form
of American Depositary Receipts) having a value of $5, or any combination
thereof, subject to aggregate transaction consideration caps of 50% cash
consideration and 50% share consideration, which may result in proration.
The transaction has been structured as a reorganization that will be tax
free to MP3.com shareholders to the extent they receive Vivendi Universal
shares. Consistent with its previous statements, Vivendi Universal will
not issue new common shares in this transaction, but will use treasury
shares for the share portion of the aggregate transaction consideration.
The Board of Directors of MP3.com has unanimously approved the transaction.
Holders of more than 50% of MP3.com's outstanding shares have agreed to
vote in favor of the transaction.
MP3.com (www.mp3.com)
will maintain its role as the premier distributor of music on the Internet.
The company will continue to feature content from all record labels and
from independent artists. There are currently over 150,000 artists from
more than 180 countries that make their music available to music fans
through MP3.com. Currently, more than 25% of Billboard Magazine's current
Top 40 albums are being promoted on MP3.com.
Music Online
MP3.com is a candidate to provide state-of-the-art
technical contributions for Duet, Vivendi Universal's joint venture with
Sony Music, to create an online digital music subscription service. Duet
is expected to launch this summer. Duet's U.S. on-demand service will
be available and marketed through a number of distribution alliances,
the first being with Yahoo!
MP3.com has the potential to be a key component
in that initiative, and has already created a massively scalable technology
for the distribution of digital music and other diverse content across
multiple platforms.
Vivendi Universal's online music distribution
capabilities will be enhanced by the MP3.com acquisition. The total aggregate
audience for MP3.com, GetMusic, FarmClub and EMusic represents close to
40 million registered users, with approximately 120 million monthly page
views.
Branding
Vivendi Universal is to acquire one of the
top worldwide Internet brands. MP3.com's brand and web site are well-known
to a global online gathering of music fans and artists. The company is
expected to contribute a huge audience to Vivendi Universal's already-impressive
online entertainment fold. The brand is particularly popular among young
users, although a significant user base is represented by affluent 35-55
demographics of both men and women.
Technology
MP3.com is a technology leader in the delivery
of online music. Recently, it pioneered the digital content delivery revolution
and built a Music InterOperating System (IOS), which is designed to connect
various segments of the music industry for the first time. Music IOS allows
the music business to interoperate in ways previously unavailable by connecting
retailers, labels, music players, and hardware and software tools.
MP3.com's Music IOS is fully compatible with
a variety of devices and networks. The company possesses proprietary-patented
technology for music distribution and has comprehensive solutions in data
management and tracking. MP3.com's proven distribution technology can
power not only music content, but also video and text content.
MP3.com technologists have an exceptional
track record of creating industry-leading technology relating to a variety
of contents and interfaces that include digital distribution, databases
and e-marketing. More than 120 MP3.com technologists will assist Vivendi
Universal Net in current and future Vivendi Universal initiatives.
Vivendi Universal's Cross Contents and Digital
Efficiency
Vivendi Universal is wholly committed to extending
its reach to all continents through digital distribution. Vivendi Universal's
strategy is to digitally distribute all of its content across all technology
platforms. MP3.com will strongly power this strategy by enhancing Vivendi
Universal's capacity to implement database management, direct marketing
and subscriptions on the Internet. MP3.com will also contribute to the
implementation of digital efficiency within Vivendi Universal.
Michael Robertson, MP3.com founder, chairman
and chief executive officer, will become special adviser to Jean-Marie
Messier with regard to Vivendi Universal's digital distribution.
Commenting on the announcement, Jean-Marie
Messier, chairman and chief executive officer of Vivendi Universal said:
"The MP3.com strategic acquisition is a big step forward for Vivendi
Universal's priority to develop and implement an aggressive, legitimate
and attractive offering of our content to consumers. MP3.com will be a
great asset to Vivendi Universal in meeting our goal of becoming the leading
online Music Service Provider. Our first step toward leadership in digital
distribution was the creation of Duet with Sony Music and distribution
agreement with Yahoo!. With MP3.com's proven technologies and team, we'll
have the tools and talents to aid the success of this and other digital
content distribution ventures. Their engineering and digital expertise
will be a tremendous advantage for Vivendi Universal, especially in the
digital distribution of all Vivendi Universal content and the creation
of common technology platforms."
"This groundbreaking merger is a defining
moment in the digital music era," said Michael Robertson, chairman
and chief executive officer of MP3.com. "It brings together industry
leading technology, brands, distribution and content. We will continue
with our current MP3.com pursuits, but also work with our new partners
to innovate subscription systems and music offerings that reach a global
audience across many devices. We believe consumers will see the full promise
of digital music come to fruition and that transaction is in the best
interest of our shareholders."
As a major global force in media and communications,
Vivendi Universal's stated vision is to further its position as the world's
premier creator and provider of personalized information, entertainment,
and services to consumers -- anywhere, at any time and across all distribution
platforms and devices. With a plethora of rich and varied content through
its Music, Publishing and TV and Film business units, coupled with its
access and distribution units in Telecoms and Internet, the Company is
poised to make consumers the winners in this age of digital communications.
The transaction is subject to regulatory approvals,
approval by the MP3.com shareholders, and other customary closing conditions.
About Vivendi Universal
Media and Communications and Environmental
Services: The media and communications business is divided into five business
segments: Music, Publishing, TV and Film, Telecoms and Internet. The Music
business is conducted though Universal Music Group, which produces, markets
and distributes recorded music throughout the world in all major genres.
Universal Music Group also manufactures, sells and distributes video products
in the United States and internationally, and licenses music copyrights
in 63 countries worldwide. The Publishing business is Europe's premier
publisher of information providing content across multiple platforms,
including print, multimedia, on the wired Internet and to PDAs via WAP
(Wireless Application Protocol) technology. The Publishing business is
a content leader in five core markets: education, games, healthcare information,
local services and business and general information. The TV and Film business
produces and distributes motion picture, television and home video/DVD
products worldwide, operates and has ownership interests in a number of
cable and pay TV channels, engages in the licensing of merchandising and
film property rights and operates theme parks and retail stores around
the world. The Telecoms business provides a broad range of telecommunications
services, including mobile and fixed telephony, Internet access and data
services and transmission, principally in Europe. The Internet business
manages the strategic Internet initiatives and new online ventures for
Vivendi Universal. Utilizing advanced digital distribution technology,
the Internet business develops e-commerce, e-services and thematic portals
that offer access to the Internet via a variety of devices, including
mobile phones, PDAs, interactive TV and computers. Vivendi Environnement,
is a 63-percent effectively owned subsidiary of Vivendi Universal, which
operates the environmental services business, with operations around the
globe. Vivendi Environnement provides environmental management services,
including water treatment and system operation, waste management, energy
services and power generation, and transportation services, to a wide
range of public authorities and industrial, commercial and residential
customers.
The Company's corporate website is located
at http://www.vivendiuniversal.com.
The Company's financial website is located at http://finance.vivendiuniversal.com.
About MP3.com
MP3.com, Inc. has created a unique and robust
technology infrastructure designed to facilitate the storage, management,
promotion and delivery of digital music. As the Internet's premier Music
Service Provider (MSP), the company is dedicated to providing consumers
with access to music when they want it, where they want it, using any
web-enabled device. The company's web site hosts what MP3.com believes
is the largest collection of digital music available on the Internet,
with more than 967,000 songs and audio files posted from over 150,000
digital artists and record labels. Dedicated to growing the digital music
space, the company's products and services include on-demand Subscription
Music Channels, an innovative Business Music Services program, a Syndicated
Radio program and others. Additionally, through the company's MSP technology
initiative and its music InterOperating System, MP3.com is partnering
with a variety of forward-looking businesses to expand its digital music
strategy. MP3.com's common stock is listed for trading on the Nasdaq National
Market under the ticker symbol MPPP. The company is based in San Diego,
California. For more information on MP3.com, visit www.mp3.com.
The entertainment industry has not yet demonstrated its ability to use
Web distribution to better serve customers, according to testimony last
Thursday before the U.S. House of Representatives Subcommittee on Courts.
Appearances before the subcommittee by Vivendi Universal Executive Vice
Chairman Edgar Bronfman, RealNetworks Chairman and CEO Rob Glaser and
MP3.com President Robin Richards demonstrated that the entertainment companies
are looking to Washington for solutions rather than maximizing their relationships
with customers for their digital marketing problems.
As the music industry evolves, Digital Rights Management (DRM) should
be combined with strengthened customer relationships to provide not only
content protection, but also expanded revenue opportunities.
Recent news of the Vivendi Universal and MP3.com alliance does not fully
address how customers can be served better through the implementation
of practical DRM systems.
There are answers to these concerns. A Mundelein, Ill.-based software
company, Veridisc(TM), has developed the FairPlay(TM) Digital Rights Management
system that strengthens users' relationships with musicians, recording
companies, publishers and other content originators. Veridisc and FairPlay
can link consumers rationally with content originators, perform DRM functions
and maximize marketing potential - whether or not there is a retail charge
for access to the digital file content. Indeed, Veridisc can perform these
functions not only today, but even for digital content distributed months
or years earlier.
Veridisc CEO, Greg Halpern, is available to discuss opportunities and
problems associated with the activity of digital content distribution.
To arrange an interview with Greg Halpern, contact:
Veridisc(TM) and FairPlay(TM) are patent-pending systems that manage
distribution of and access to protected digital content while strengthening
customer relationships. Veridisc is a subsidiary of Circle Group Internet.
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