Alliance Entertainment Corp. Completes Acquisition of Digital On-Demand Inc.CORAL SPRINGS Coral Springs, city (1990 pop. 79,443), Broward co., SE Fla.; inc. 1963. Largely residential, it is a city that has grown rapidly along with the southern Florida and Fort Lauderdale area. The population of Coral Springs nearly doubled between 1980 and 1990. , Fla.--(BUSINESS WIRE)--Dec. 9, 1999-- Yucaipa Invests $70 Million into Alliance Alliance Entertainment Corp., one of the nation's largest home entertainment product distribution, fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. and infrastructure companies, announced today that it has completed the acquisition of Digital On-Demand Inc., a leading distributor of digital entertainment content into retail environments. Digital On-Demand becomes a wholly-owned subsidiary of Alliance. In announcing the agreement, Eric Weisman, President and Chief Executive Officer of Alliance, stated: "We are excited to complete our acquisition of Digital On-Demand and to integrate their proprietary digital network into Alliance's distribution, fulfillment and infrastructure capabilities. Through their enhanced proprietary digital network, Alliance furthers its strategic goal of offering our customers the most comprehensive business-to-business solutions possible." The Yucaipa Companies, a private investment company that purchased Alliance in April of 1999, has invested $70 million in the combined company and will continue to be the controlling shareholder of Alliance. Tom Szabo, currently Chief Executive Officer of Digital On-Demand, will continue to direct the Digital On-Demand business and will report directly to Eric Weisman. Digital On-Demand is a leader in the digital distribution of entertainment media through the development of its proprietary RedDot Network. RedDotNet is capable of distributing content (including music, movies, and interactive games) in a secure, high quality format to retail stores nationwide over its high speed network connecting retailers to the company's digitized content servers. The current in-store digital distribution machines enable consumers to find, preview and select music for purchase. Proprietary real-time manufacturing stations then burn the album in CD format as well as print cover graphics and liner notes liner notes pl.n. Explanatory notes about a record album, cassette, or compact disk included on the jacket or in the packaging. . The digital distribution machines also permit the downloading downloading - download of content to SDMI (Secure Digital Music Initiative) A set of rules for securely distributing digital music over the Internet. Announced in February 1999, it is backed by the Recording Industry Association of America (RIAA) and Sony, Warner, BMG, EMI and Universal, the top five compliant devices. Alliance Entertainment Corp. Alliance Entertainment Corp. (www. aent.com) is one of the nation's largest home entertainment product distribution, fulfillment and infrastructure companies providing both brick-and-mortar and e-commerce home entertainment retailers with complete business-to-business solutions. Alliance offers an extensive product inventory (including CDs, cassettes, DVDs, videos, video games See video game console. and related merchandise) as well as cutting-edge technology, wide-ranging support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , and innovative retail-enabling capabilities for today's converging con·verge v. con·verged, con·verg·ing, con·verg·es v.intr. 1. a. To tend toward or approach an intersecting point: lines that converge. b. marketplace. The company is also a leading content provider through the All Media Guide (AMG AMG All Music Guide (music website) AMG All Media Guide (group of media websites) AMG All Movie Guide (Movie website) AMG Arzneimittelgesetz (German Law) ) databases. AMG's customers license its e-commerce enabling entertainment databases to support their Internet retailing businesses. AMG is also a developer of proprietary Web sites for music (www.allmusic.com), movies (www.allmovie.com), and games (www.allgame.com). |
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