Acacia Research Subsidiary Obtains ASCAP, BMI and SESAC Licenses for Internet Music Broadcasting.PASADENA, Calif.--(BUSINESS WIRE)--Aug. 25, 1999-- Acacia Research Corp. (NASDAQ/NM:ACRI) Wednesday announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Soundbreak.com has obtained performance licenses from ASCAP ASCAP abbr. American Society of Composers, Authors, and Publishers , BMI BMI body mass index. BMI abbr. body mass index Body mass index (BMI) A measurement that has replaced weight as the preferred determinant of obesity. and SESAC SESAC Society of European Stage Authors and Composers SESAC Society of European Songwriters, Artists and Composers SESAC Space and Earth Sciences Advisory Committee SESAC Security and Stability Advisory Committee for Internet music broadcasting. ASCAP, BMI and SESAC are the societies that administer the performance rights for the copyright owners of musical compositions. Soundbreak has also filed an "Initial Notice" with the Registrar of Copyrights at the Library of Congress to qualify for the compulsory performance license required under the Digital Millennium Copyright Act The Digital Millennium Copyright Act (DMCA) is a United States copyright law which implements two 1996 WIPO treaties. It criminalizes production and dissemination of technology, devices, or services that are used to measures that control access to copyrighted works (commonly (DMCA (Digital Millennium Copyright Act) A U.S. law enacted in late 1998 that provides penalties for developing hardware or software that overrides copy protection schemes for digital media. ) to broadcast recorded music over the Internet. Soundbreak's goal is to become the leading "live" Internet site for youth-oriented music. Soundbreak will provide an interactive lifestyle site that combines a 24-hour worldwide Webcast highlighting new music hosted by on-air DJs with rich graphics, a music and merchandise store, on-demand music videos and other features. Soundbreak plans to launch the Web site in late September and include e-commerce features by the end of the year. Soundbreak operates from facilities located in Hollywood, Calif. Acacia Research Corp. is a diversified company with interests in several enterprises: CombiMatrix Corp. (biochips/drug discovery technology), Greenwich Information Technologies LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (video and audio-on-demand technology), MerkWerks Corp. (software development), Signature-mail.com llc (personalized e-mail service), Soundbreak.com Inc. (Internet music and e-commerce), Soundview Technologies Inc. (V-chip technology), and Acacia Capital Management (investment advisory services). This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements address future events and conditions concerning Soundbreak's business plan, capital expenditures, technological developments, development of on-air talent and content, and the markets for products and services. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties, such as future economic conditions, changes in consumer demand, legislative, regulatory and competitive developments, and other circumstances affecting anticipated revenues and costs, which may cause actual results to differ materially. The company expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein. |
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