Compendia Media Group Launches After Reorganization of Platinum Entertainment.Business Editors LOS ANGELES--(BUSINESS WIRE)--Nov. 29, 2001 Music Division Starts Fast by Retaining Distribution Network, Top-Selling Labels and Huge Library of Gospel, Adult Contemporary, Country, and Classical Masters Compendia com·pen·di·a n. A plural of compendium. Media Group (Compendia), a new integrated media and entertainment company, launched operations today after a unique reorganization that has sustained one of the music industry's largest master recordings catalogs and initiated growth of a new entertainment media brand. Martin Tudor Martin Tudor is the name of several people, including:
Compendia was formed as a result of the federal bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. administered reorganization of Platinum Entertainment. The company has established Music, Home Video, Direct Marketing, Music Publishing The contractual relationship between a songwriter or music composer and a music publisher, whereby the writer assigns part or all of his or her music copyrights to the publisher in exchange for the publisher's commercial exploitation of the music. , Interactive, Television and Film divisions to support the company's involvement in other areas of the media business worldwide. Compendia's primary initial focus will be supporting the Compendia Music Group, which will be based in Nashville, TN. Compendia Music Group produces, markets and distributes recorded music recorded music n → música grabada in top-selling gospel, Christian, adult contemporary, country, rock, and classical formats. Compendia Music Group's substantial library consists of more than 10,000 master recordings, previously owned by Platinum Entertainment. The Music Group plans to announce artist signings, upcoming projects and staff appointments in January 2002. Prior to being named as president and chief executive officer, Tudor was a consultant, retained by Platinum Entertainment to lead the reorganization process. Unlike many entertainment and media industry reorganizations, in which company assets are sold to pay debt, Tudor recognized the value of the bankrupt company's master library and the substantial breadth of popular talent it comprised and how those assets could be used to revive the popular record company and establish a new entertainment media brand. "Compendia Media Group's paramount initial goals are to re-introduce the popular labels and artists of Compendia Music Group to consumers, achieve the satisfaction of our retail partners and grow the other areas of our media business," said Tudor. "The Compendia Music Group's unmatched library in the music business is a consistent money-maker for our retail partners, and its success is the primary objective of our initial business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets ." Tudor and Compendia Media Group management, Home Video, Interactive and Television and Film divisions will be 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. . Michael Olsen, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , and Compendia's Music, Direct Marketing, and Music Publishing Groups will be based in Nashville. Compendia's distribution, financial operations and customer service operations will be based in Atlanta. "In addition to our support for Compendia Music Group, our efforts will focus on building the Compendia brand by establishing franchise relationships with producers, artists, writers and others in the creative community worldwide through our other divisions, including home video, television, film and interactive," said Tudor. Compendia Music Group's library includes titles from popular country and rock artists ranging from the Oak Ridge Oak Ridge, city (1990 pop. 27,310), Anderson and Roane counties, E Tenn., on Black Oak Ridge and the Clinch River; founded by the U.S. government 1942, inc. as an independent city 1959. Boys to the Beach Boys, and from classical catalogs of the Royal Philharmonic Orchestra The Royal Philharmonic Orchestra (RPO) is a British orchestra based in London. It tours widely, and is sometimes referred to as “Britain's national orchestra”. and funk legends George Clinton and the Gap Band to top-selling gospel artists, Vicki Winans and the Mighty Clouds of Joy The Mighty Clouds of Joy are the world's best selling gospel quartet. They are based in Los Angeles, California. Group members include Joe Ligon, Johnny Martin (d. 1987), Elmo Franklin, Richard Wallace, Leon Polk and David Walker (who also recorded several tracks with Link Wray . "We are building a company that would be prohibitively expensive to build from scratch. This unique opportunity allows us to start business operations immediately and support the growth of other areas of the company," said Tudor. Tudor has recruited several industry veterans for the Compendia Media Group senior management team, including Olsen, and Dailey Kennedy, the company's chief financial officer. About Compendia Media Group Compendia Media Group (Compendia) is an integrated entertainment media management organization with interests in Music, Home Video, Direct Marketing, Music Publishing, Interactive, Television and Film worldwide. For information, visit the Compendia Media Group Web site at www.compendiamedia.com or send an email to info@compendiamedia.com. |
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