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Post by Franko10 ™ on Jan 3, 2008 16:11:34 GMT -5
March 14, 2007
Fuego Entertainment Announces An Exclusive Agreement With Digital Music Group, Inc., a Global Leader in the Digital Distribution of Music, TV, and Film Catalogs
MIAMI, March 14, 2007 -- Fuego Entertainment, Inc. (OTCBB:FUGO) announces that it has entered the digital distribution market for music, music videos, sound recordings, films, short films, documentaries, and television content via an exclusive agreement with a Digital Music Group, Inc. (Nasdaq:DMGI), a content owner and global leader in the digital distribution of independently owned music, TV, film and video catalogs.
Under the terms of the agreement, DMGI will distribute Fuego Entertainment's music through their global distribution channels such as: the iTunes Store, Yahoo! Music, Napster, Real Networks, Musicnet, Wal-Mart Music, Snocap, and others. Fuego Entertainment's video content will be distributed through Google Video, the iTunes Store, YouTube, and others.
Additionally, Fuego has also authorized DMGI to adapt and edit its music for the purpose of creating ringtones for distribution through their mobile channel partners including Verizon, Virgin Mobile, Infospace, Amp'd Mobile, Moderati, Zingy, and others.
"We are very excited to enter the digital sales and distribution market," stated Hugo Cancio, president and CEO of Fuego Entertainment. "The primary venues for sales and distribution of music and video content continues to transform itself from physical format such as CD's, DVD's, etc. to digital formats that are now accessible via the Internet, cell phones, and other music and video portable digital players such as the iPod."
According to recent market research reports, worldwide shipments of portable digital music devices are projected to reach 124 million units by 2009. The digitalization of music, sound recordings, and audiovisual content is the way of the future; content is king and Fuego Entertainment as a content provider is well-positioned to capitalize on this new opportunity. Fuego through its affiliates owns, licenses, and has access to over 2,000 music tracks of primarily Cuban and other Latin music artists and over 250 hours of video content. Fuego's agreement with DMGI will help maximize the Company's sales potential and revenue stream.
About Fuego Entertainment, Inc.
Fuego Entertainment, Inc. is engaged in the production, acquisition, marketing, sales, and distribution of entertainment products such as short films, documentaries, television shows, music, and tour productions. Also, through its subsidiaries, the Company provides management and development of television stations, recorded music, and music publishing services worldwide. The music operations include discovery, production, development, and distribution of recorded music. The Company also markets its music catalog through compilations and re-issuances of previously released music and video titles, as well as licenses tracks to and from other producers and record labels for various uses, including film, documentaries, short films and television soundtracks. For more information, please visit Fuego Entertainment at www.fuegoentertainment.net
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
ir@fuegoentertainment.net
Fuego Entertainment Announces An Exclusive Agreement With Digital Music Group, Inc., a Global Leader in the Digital Distribution of Music, TV, and Film Catalogs
MIAMI, March 14, 2007 -- Fuego Entertainment, Inc. (OTCBB:FUGO) announces that it has entered the digital distribution market for music, music videos, sound recordings, films, short films, documentaries, and television content via an exclusive agreement with a Digital Music Group, Inc. (Nasdaq:DMGI), a content owner and global leader in the digital distribution of independently owned music, TV, film and video catalogs.
Under the terms of the agreement, DMGI will distribute Fuego Entertainment's music through their global distribution channels such as: the iTunes Store, Yahoo! Music, Napster, Real Networks, Musicnet, Wal-Mart Music, Snocap, and others. Fuego Entertainment's video content will be distributed through Google Video, the iTunes Store, YouTube, and others.
Additionally, Fuego has also authorized DMGI to adapt and edit its music for the purpose of creating ringtones for distribution through their mobile channel partners including Verizon, Virgin Mobile, Infospace, Amp'd Mobile, Moderati, Zingy, and others.
"We are very excited to enter the digital sales and distribution market," stated Hugo Cancio, president and CEO of Fuego Entertainment. "The primary venues for sales and distribution of music and video content continues to transform itself from physical format such as CD's, DVD's, etc. to digital formats that are now accessible via the Internet, cell phones, and other music and video portable digital players such as the iPod."
According to recent market research reports, worldwide shipments of portable digital music devices are projected to reach 124 million units by 2009. The digitalization of music, sound recordings, and audiovisual content is the way of the future; content is king and Fuego Entertainment as a content provider is well-positioned to capitalize on this new opportunity. Fuego through its affiliates owns, licenses, and has access to over 2,000 music tracks of primarily Cuban and other Latin music artists and over 250 hours of video content. Fuego's agreement with DMGI will help maximize the Company's sales potential and revenue stream.
About Fuego Entertainment, Inc.
Fuego Entertainment, Inc. is engaged in the production, acquisition, marketing, sales, and distribution of entertainment products such as short films, documentaries, television shows, music, and tour productions. Also, through its subsidiaries, the Company provides management and development of television stations, recorded music, and music publishing services worldwide. The music operations include discovery, production, development, and distribution of recorded music. The Company also markets its music catalog through compilations and re-issuances of previously released music and video titles, as well as licenses tracks to and from other producers and record labels for various uses, including film, documentaries, short films and television soundtracks. For more information, please visit Fuego Entertainment at www.fuegoentertainment.net
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
ir@fuegoentertainment.net
