new PR...
PHILADELPHIA, PA, Oct 24, 2006 (MARKET WIRE via COMTEX) -- RMD Entertainment
Group (PINKSHEETS: RMDG) proudly announced today that it is in negotiations to
enter into a massive distribution arrangement with London's Pickwick Group Ltd.
The Pickwick Group currently distributes all of RMD's content overseas and until
this point that was the extent of the relationship. Recognizing that RMD is
becoming an entertainment-content giant in the states, the Pickwick Group has
agreed to let RMD take their entire content library and distribute it
exclusively in North America through Bungalo Records and Universal Music Group
(a subsidiary of Vivendi Universal).
Up until this point, the two companies had only discussed the possibility of RMD
distributing the famed Pickwick library in digital format; however, with RMD's
recent successes offline, the Pickwick executives decided to pursue discussions
that will give RMD full authority to distribute their multi-million dollar
catalog digitally and at brick and mortar locations. The Pickwick Group's
foundation was built with quality music and has been unstoppable over the years
as a result of their wildly popular Hallmark label; however, that was only the
beginning as their content library is now deeply fortified with film and
television content as well.
RMD CEO Giorgio Costonis commented, "It is more than an honor to be given a
chance at an opportunity of this magnitude. Whenever RMD is recognized for the
amazing progress we've made it is reaffirming; however, to be recognized by a
pioneer like the Pickwick Group, it is awe-inspiring." Costonis added, "Once
this deal is signed, which I believe will happen shortly, Pickwick will be
entrusting RMD with a great responsibility and we will accept nothing short of
success with the opportunity. We are eager to get started and know that the
great people of North America will be the perfect audience for Pickwick's
incredible library."
Management also said there would be a press release shortly to announce the
signing of the agreement as well once negotiations were completed.
About RMD Entertainment Group
RMD Entertainment (RMD) is a cutting-edge entertainment company that is
primarily focused on the development and international marketing of 'hip-hop'
music, including compact discs, digital downloads, and personal 'ring tones' for
mobile phone customers, as well as other 'hip-hop' lifestyle products. The
Company has also created MOTV, the ability to stream video content to mobile
devices, including cell phones and PDAs. The Company currently possesses an
impressive hip-hop catalogue, which it distributes exclusively through Bungalo
Records and Universal Music Group (a subsidiary of Vivendi Universal) in North
America and in Europe through the Pickwick Group Ltd. of London.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act
of 1995. Those statements include statements regarding the intent, belief or
current expectations of RMD Entertainment Group, Inc, and members of its
management as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and uncertainties, and
that actual results may differ materially from those contemplated by such
forward-looking statements. The Company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions, the occurrence
of unanticipated events or changes to future operating results.
CONTACT:
Jed Wallace
Publicist
Phone: (310) 234-3200
email to: jwallace@mphpr.com
SOURCE: RMD Entertainment Group
CONTACT: mailto:jwallace@mphpr.com
Copyright 2006 Market Wire, All rights reserved.
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SUBJECT CODE: Media and Entertainment:Music and Radio
