07/18/2006- Licenses the Music Library Jan 3, 2008 15:36:08 GMT -5
Post by Franko10 ™ on Jan 3, 2008 15:36:08 GMT -5
July 18, 2006
Fuego Entertainment Licenses the Music Library Catalogue of Ciocan Entertainment and Music Group, Inc. and Creates its own Music Division called Fuego Entertainment Music International (FEMI)
MIAMI, July 18, 2006 -- Fuego Entertainment, Inc. (OTC Bulletin Board: FUGO) today announced an exclusive licensing agreement with the music library catalogue of Ciocan Entertainment and Music Group, Inc. and the start of Fuego Entertainment Music International (FEMI), Fuego’s new music division.
Ciocan Entertainment and Music Group, Inc. is a company owned and managed by Hugo Cancio, our CEO, and the terms of the licensing agreement are for five years (with a five year option) and a 10% royalty to Ciocan based on net sales. This agreement licenses 15 finished albums and two different artists who are exclusively recording with Ciocan for the release of other future projects. FEMI will target the non-Hispanic markets with this content and develop the past marketing efforts of Ciocan to the Latin customer base.
“We intend to market this library’s popular titles within the Latin and US markets by working with various music companies to establish an international distribution network. We now have the foundation to develop the music division within Fuego and increase the size of the catalogue by producing more albums and developing new and existing talent,” said Hugo Cancio, CEO.
FEMI will also develop live productions for its artists while marketing and promoting the recordings. Tour productions will be national and international, depending on the artist. FEMI also plans to license some individual tracks to and from other music producers.
Fuego Entertainment is primarily engaged in directing, producing, marketing, and distributing entertainment products, including feature and short films, documentaries, television shows, music, and tour productions.
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 Fuego Entertainment, Inc., members of their management, and 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.
CONTACT: Fuego Entertainment, Inc., Dan York, Investor Relations, 214 675-2531, email@example.com