NuTech Digital Enters Exclusive DRM Agreement with Wellspring Media; DVD and Worldwide Internet Digital Rights Management Agreement Covers 35 Titles.
LOS ANGELES--(BUSINESS WIRE)--Jan. 30, 2004
NuTech Digital, Inc. (OTCBB:NTDL), a leader in Digital Rights Management (DRM) technology for the secure distribution of entertainment content, announced today that it entered into an exclusive worldwide licensing agreement with Wellspring Media to distribute 35 Wellspring's films. Pursuant to the terms of the agreement, the Wellspring titles will be available exclusively through NuTech's multiple distribution platforms, including Internet downloads with NuTech's proprietary Digital Rights Management platform. The announcement was made jointly by Mark Gilula, Wellspring's general manager of Home Video, and Lee Kasper, chairman and chief executive officer of NuTech.
Mr. Gilula stated, "We are very excited to partner with NuTech Digital. The titles included in this venture are a perfect complement to NuTech's offerings. We are happy to have found a well-suited partner to make them available to its key audience. We also look forward to gaining first-hand experience with Internet distribution from a pioneer in the DRM field."
Mr. Kasper added, "With the acquisition of Wellspring's titles, which we will begin to release in the second quarter, we expect a significant market response to our growing and diverse product lines of both movies and music. Additionally, these titles are ideally targeted to sophisticated consumers who would rather download content than visit a physical store. As leaders in DRM technology, we have the ability to provide these titles as secure downloads, pay-per-use from a pre-delivered DVD, via Internet subscription models, and much more."
NuTech Vice President Joe Giarmo noted, "The addition of these titles will allow us to enhance the original quality of the movies and add additional bonus features. 'Hugo Pool,' starring Alyssa Milano, and 'The Leading Man,' starring Jon Bon Jovi, will be among the new releases."
About Wellspring Media
Wellspring Media is a leading independent supplier of notable film, television and video programming for customers with a sense of aesthetic, cultural and intellectual adventure. The company serves as a trusted filter, sifting through all available material and releasing only those titles worthy of its customers' attention. The Wellspring Home Video and Worldwide Sales libraries boast over 800 titles including major works by Francois Truffaut, Jean-Luc Godard, Eric Rohmer, Luchino Visconti, Rainer Werner Fassbinder, Hou Hsiao-Hsien, The Taviani Brothers, Peter Greenaway, Jacques Demy, Akira Kurosawa, Pedro Almodovar, Michelangelo Antonioni, Lina Wertmuller and more. Wellspring employs a staff of 47 people and has offices in New York and Los Angeles.
About NuTech Digital
NuTech Digital is a pioneer in the home entertainment product market, offering original and licensed content via a worldwide network of distributors, retailers and Internet entities. The Company enjoys significant competitive advantage with the recent announcement of its proprietary DRM technology, which enables the secure distribution of high-resolution digital content via the Internet. NuTech's DRM platform allows its feature films, concerts, children's animated films, video games, karaoke software, Japanese animation and late night programming to be accessed via secure downloads, rented through pre-delivered DVDs, and included in online subscription services. The Company also facilitates authoring services to content providers in the entertainment industry.
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that if they never materialize or prove incorrect, could cause NuTech Digital, Inc.'s results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in NuTech Digital, Inc.'s reports filed with the Securities and Exchange Commission.
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|Date:||Jan 30, 2004|
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