Entertainment International Ltd. Announces Acquisition of WebeCD.com, Inc.Business Editors ORLANDO, Fla.--(BUSINESS WIRE)--March 28, 2000 WebeCD Technology Revolutionizes Standard CDs & DVDs Into Intelligent E-commerce Vehicles Via Tight Integration With Personal Broadband "dj" And Online E-commerce center Entertainment International Ltd. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : ENTI ENTI European Network of Territorial Intelligence ) announced today the execution of a letter of intent to acquire WebeCD.com, Inc. a private New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of software company whose technology transforms regular CDs, DVDs, and other electronic media into intelligent e-commerce vehicles. WebeCD will seek to maximize the Internet related potential of eNTI affiliated entertainment related companies and extend its software across the entertainment industry. The transaction is subject to customary closing conditions, including but not limited to satisfactory due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , receipt of necessary approvals, and the execution of a stock purchase agreement. The companies anticipate that the transaction will close shortly. WebeCD's radical new approach for integrating advanced web-based software engineering into existing and new CDs and DVDs allows seamless communication from the desktop to targeted e-commerce Web sites, as well as outstanding video and audio streaming See streaming audio. capabilities. CDs and DVDs featuring the WebeCD enhancement will allow users to broaden their "emedia" experience beyond the simple audio or visual component of a music CD or DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. by providing a valuable 'bridge' to a vast array of products and services tailored to the specific interests of the user. Additionally, the technology allows artists to sell more music by enabling the broadcast of extremely high quality video to over 300 million PCs worldwide, a significantly larger audience than the standard television market 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. . Upon the closing of the transaction, the Company will work with Trans Continental Records, an affiliate of eNTI, to deploy WebeCD technology on Trans Continental album releases, rebroadcast Trans Continental artists' content via video and audio streaming from the WebeCD Web site, as well as sell CDs, DVDs and other merchandise from the Trans Continental Web sites as available. Trans Continental is responsible for launching music sensations Backstreet backstreet Noun a street in a town far from the main roads Adjective denoting secret or illegal activities: a backstreet abortion backstreet n Boys, 'N SYNC, LFO LFO Low Frequency Oscillator LFO Lyte Funky Ones (dance band) LFO Legal Framework Order (Pakistan) LFO Light Finding Operation (anime, Eureka seveN) LFO Last Flight Out and Take 5, among other musical acts. Louis J. Pearlman, President of Trans Continental Records, Inc., will continue to be the Chairman of eNTI and play an active role in its business affairs. Under Mr. Pearlman's leadership, Trans Continental's acts have grossed in excess of $750 million through sales of CD's, touring, and merchandise during the past four years. Its list of artists also includes C Note, Innosense, Mista Brizz, Phoenix Stone, and K.C. and the Sunshine Band. It is also the international distributor for Kenny Rogers. Trans Continental is currently teaming with ABC TV
in full Music Television U.S. cable television network, established in 1980 to present videos of musicians and singers performing new rock music. MTV won a wide following among rock-music fans worldwide and greatly affected the popular-music business. Productions on a 22 episode prime time series entitled "Making the Band," featuring the band O-Town. The weekly series premiered Friday, March 24th following "Who Wants to Be a Millionaire" on the ABC television ABC Television may refer to:
Mr. Pearlman stated, "In WebeCD we believe we've found a dynamic technology partner that will make sure we get the most out of the Internet-related potential of our affiliated entertainment companies. This unique combination of technologies will allow eNTI to establish itself as a leader in broadband entertainment on the worldwide web." WebeCD has assembled one of the finest broadband software development staffs in the world. With combined engineering experience exceeding 100 years working with an impressive array of web-enabled broadband languages, including: html, dhtml, xml, SQL SQL in full Structured Query Language. Computer programming language used for retrieving records or parts of records in databases and performing various calculations before displaying the results. , C++, Java, asp, com and dcom. The team has significant experience developing digital technologies and interactive e-commerce capabilities for some of the most advanced companies in the world, including TV Guide, Williams Communications and Cray Research See Cray. . Specifically, the team has developed and deployed broadband interactive programming guides for next generation television sets, large-scale database architectures, network television distribution models, broadband streaming applications and advanced interactive e-commerce programs via advanced digital set-top boxes and personal computers. Importantly, WebeCD enables consumers to effect intelligent interaction with its Web site, allowing consumers to archive their personal media collections and access them over the World Wide Web. This technology, called the personal digital jukebox (1) Software for managing music files. Also called a "digital music manager," "music manager," or just "jukebox," it lets users organize MP3 and other audio files into playlists, play the songs, rip CD tracks to MP3 and other formats, burn CDs and download titles to portable , or "dj," will revolutionize an individual's media experience by providing consumers with a personal digital jukebox playing potentially thousands of CDs or videos from anywhere on the World Wide Web. The company has proprietary technology that allows intelligent interaction with a consumer's archived media vault and the WebeCD disks that will replace traditional music CDs in the marketplace. The WebeCD technology will be available for free to the music industry. This provides the Company with a new entertainment operating paradigm for the music, film, and media industries with significant application for the Fortune 1000. With strong backing from members of the music industry, most notably Trans Continental Records, WebeCD is poised to begin shipping on several record labels after the closing. With a disk-based consumer traffic driving model and an intelligent e-commerce center, the company expects to create an exciting and formidable presence in the software and entertainment industries. Tim Demers, Chief Technology Officer and a founder of WebeCD stated, "We are excited about the possibilities of creating, with our strategic partners, a new operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. for the entertainment industry. Our Netscape style give-away will allow every artist worldwide to have free access to the technology and we will even digitize the content and provide the engineering for them through our digitization centers that will open in Los Angeles, New York and Nashville in the near future. This is a once-in-a-lifetime opportunity to transform a massive 1.5 billion unit audio CD distribution system into an intelligent Web-based e-commerce platform." This press release contains forward-looking statements that involve risks and uncertainties. The Company's actual results could differ materially from those discussed in such forward-looking statements based on a variety of factors. Other risks are reflected in eNTI's filings with the Securities and Exchange Commission. |
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