CheckOut and Wherehouse Music Complete Merger; CheckOut Receives $20 Million Investment from Wherehouse Music and Debuts The CheckOut Entertainment Network in Site Redesign.Business/Entertainment Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--March 2, 2000 The CheckOut Entertainment Network and Wherehouse Music today announced the completion of the merger of CheckOut.com and WherehouseMusic.com. Under terms of the agreement, CheckOut received a $20 million equity investment from Wherehouse Music and is its exclusive Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the partner. "This merger clearly establishes The CheckOut Entertainment Network as a leader in the online entertainment industry," said Richard Wolpert, chief executive officer, The CheckOut Entertainment Network. "With our rapidly growing daily traffic and significant on- and off-line partnerships, we continue to take the online entertainment category to the next level." Business Strategy of The CheckOut Entertainment Network and Wherehouse Music Merger The partnership between CheckOut and Wherehouse Music solidifies the new company's industry position in two key areas -- entertainment content and commerce. This month, CheckOut will debut a new design that will include the following under The CheckOut Entertainment Network: content destinations -- CheckOutMusic.com, CheckOutMovies.com and CheckOutGames.com; The Lounge, a live events and community area; the Wherehouse Online Stores featuring dedicated stores for music, movies, games and related entertainment merchandise; and new features including broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). enhancements for high-speed users. Wolpert added: "The online entertainment category has exploded ex·plode v. ex·plod·ed, ex·plod·ing, ex·plodes v.intr. 1. To release mechanical, chemical, or nuclear energy by the sudden production of gases in a confined space: and is expected to be the `most sought-after' category on the Internet this year. Users shouldn't have to sift through thousands of different entertainment-related sites for their online needs. "It is the goal of CheckOut's Entertainment Network to make it easy for fans to find everything that they're looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. online at one Web destination. Our success in this arena is already evident as we are one of the fastest growing entertainment sites on the Web according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Media Metrix." The companies' combined marketing strength both on- and off-line creates a strong competitive advantage. CheckOut's Network of entertainment destinations will be featured in the almost 550 Wherehouse Music retail stores nationwide and will be included in regional and national print, radio and TV advertising. Together, the companies will bring entertainment fans shared promotions, sweepstakes sweepstakes, contest or race, usually a horse race, on which a lottery is run. Prizes are awarded to the holders of winning tickets. In the case of a horse race, the draw is made from the names of all the horses entered in the race and vast numbers of blanks. , contests, access to their favorite artists and more, available both in-stores and online. Currently, the companies have initiated a kiosk kiosk Originally, in Islamic architecture, an open circular pavilion consisting of a roof supported by pillars. The word has been applied to a Turkish summer garden pavilion and a type of early Persian mosque. pilot for select Wherehouse stores where content and community from The CheckOut Entertainment Network is featured. In addition, Wherehouse Music is the No. 1 specialty retailer in the country for used music. The Wherehouse Online Stores will leverage Wherehouse Music's leadership in this category and incorporate a used category with the site redesign re·de·sign tr.v. re·de·signed, re·de·sign·ing, re·de·signs To make a revision in the appearance or function of. re . On top of marketing and used merchandise, The CheckOut Entertainment Network and Wherehouse Music will work together to build strong and lasting relationships with record labels, entertainment studios and game companies. "Wherehouse Music has been developing key relationships with the entertainment industry for more than a decade," said Hugh Hilton, president, Wherehouse Music. "We are a proven market leader on new release titles. As a testament to our leadership in this arena, Wherehouse Music was the No. 1 retailer in first-day sales nationwide for D'Angelo's new release `Voodoo.' "With The CheckOut Entertainment Network, we can now bring labels and studios an additional marketing avenue and a solid online partner that will support the needs of the entertainment community and represent their artists and products to the millions of fans on the Internet." About The CheckOut Entertainment Network The CheckOut Entertainment Network, based in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , is the recognized online entertainment leader. It develops, maintains and markets online entertainment destinations including CheckOutMusic.com, CheckOutMovies.com, CheckOutGames.com, The Lounge and the Wherehouse Online Stores. The CheckOut Entertainment Network is one of the fastest-growing destinations on the Web according to Media Metrix. In November 1999, The CheckOut Entertainment Network entered into a strategic partnership with Wherehouse Music to become the exclusive Internet arm for the almost 600 Wherehouse retail locations. The CheckOut Entertainment Network and also holds key partnerships with RealNetworks, Talk City, GameSpy Industries, EarthLink and LAUNCH, among others. About Wherehouse Music Wherehouse Entertainment Inc., is the third-largest music retailer in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . With the acquisition of Blockbuster block·bust·er n. 1. Something, such as a film or book, that sustains widespread popularity and achieves enormous sales. 2. A high-explosive bomb used for demolition purposes. 3. Music, the Torrance, Calif.-based retailer owns and operates nearly 550 stores in 33 states with 1998 pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenues of over $800 million. |
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