IAMSAM
18 years ago
Nokia to Acquire Loudeye and Launch a Comprehensive Mobile Music Experience
ESPOO, Finland and SEATTLE, Washington, August 8 /PRNewswire-FirstCall/ -- Nokia (NYSE: NOK) and Loudeye Corp. (Nasdaq: LOUD) today announced that they have signed an agreement for Nokia to acquire Loudeye for approximately USD 60 million. Loudeye is a global leader of digital music platforms and digital media distribution services. Under the terms of the agreement, Loudeye stockholders will receive USD 4.50 per share in cash for each share of Loudeye common stock. By acquiring Loudeye, Nokia can offer consumers a comprehensive mobile music experience, including devices, applications and the ability to purchase digital music.
The multi-function mobile device will become the preferred medium for enjoying music and Nokia is leading this trend. With music optimized products like the Nokia N91 and other Nokia devices, Nokia sold more than 15 million music enabled devices in the 2nd quarter, making it the world's largest manufacture of digital music players.
'Music is a key experience for Nokia and Nokia Nseries multimedia computers and we want to be able to offer the best fully integrated mobile music experience to our customers. Loudeye brings a number of key assets to Nokia, including a great team of people, a substantial content catalogue and a robust service platform that will help us to achieve this objective,' said Anssi Vanjoki, executive vice president and general manager, Multimedia, Nokia. 'People should be able to access all the music they want, anywhere, anytime and at a reasonable cost. With this acquisition, we aim to deliver that vision and a comprehensive music experience to Nokia device owners during 2007.'
Loudeye operates 60 live services in over 20 countries and multiple languages across Europe and South Africa, Australia and New Zealand. Loudeye aggregates rights and content from all the major labels and hundreds of independents and currently offers licensed catalog and complete media for over 1.6 million tracks.
'This agreement recognizes the key roles that Loudeye and our people play in the digital mobile music market, and reflects the power of our products, our team and our technology,' said Michael Brochu, president and chief executive officer of Loudeye. 'Our combined teams will deliver a comprehensive mobile music experience to Nokia device owners all over the world. With an industry leading music experience, a robust service platform, and extensive music rights, Loudeye has long been committed to delivering on the digital music needs of consumers, and we've built a leadership brand in the digital music marketplace'.
Nokia Nseries multimedia computers represent the next leap forward in personal computing. The multimedia computer offers all the functionalities of a PC and many portable single purpose devices in a connected mobile device that is always with you and always connected. Because multimedia computers have a programmable operating system, people can download and install software applications. Unlike most mobile devices, this means people can add features and applications to their multimedia computers without having to buy a new device.
Tens of millions of Nokia devices have a music player and every Nokia Nseries device incorporates a music player, high memory capacity and an FM radio, as well as support for a wide range of digital music formats including MP3, M4A, AAC and WMA. With the Nokia Nseries, you can quickly and easily find and purchase music over the air and download it to your device from your music store. Or, simply drag and drop your personal music collection from your PC to your Nokia Nseries device or synchronize your recent music purchases with your PC via Bluetooth or USB cable.
The transaction is expected to be completed in the fourth quarter of 2006. Closing of the transaction is subject to satisfaction of a number of conditions, including approval of Loudeye's stockholders, regulatory approvals, obtaining consents from third parties to the continuation, modification, extension and/or termination of certain specified contracts, and the absence of a material adverse effect in Loudeye's business or operations, including loss of employees, loss of customers, or failure to maintain a minimum specified cash balance, each as described in the merger agreement.
About Nokia Nseries
Nokia Nseries is a range of high performance multimedia devices that delivers unparalleled mobile multimedia experiences by combining the latest technologies with stylish design and ease of use. With Nokia Nseries products, consumers can use a single device to enjoy entertainment, access information and to capture and share pictures and videos, whenever and wherever they want.
About Nokia
Nokia is the world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia connects people to each other and the information that matters to them with easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses. Nokia provides equipment, solutions and services for network operators and corporations (www.nokia.com).
About Loudeye
Loudeye is a worldwide leader in business-to-business digital media solutions. Loudeye combines innovative services with a broad catalog of licensed digital music and an industry leading digital media infrastructure, enabling partners to rapidly and cost effectively launch complete, customized digital media stores and services.
Loudeye is headquartered in Seattle, USA with offices in London and Bristol UK, Paris France, Cologne Germany and Milan Italy. It employs approximately 130 people with reported revenue in 2005 of approximately $20.3 million, excluding discontinued operations. For more information, visit www.Loudeye.com.
Nokia Forward-Looking Statement Disclaimer
It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding: A) the timing of product and solution deliveries; B) our ability to develop, implement and commercialize new products, solutions and technologies; C) expectations regarding market growth, developments and structural changes; D) expectations regarding our mobile device volume growth, market share, prices and margins, E) expectations and targets for our results of operations; F) the outcome of pending and threatened litigation; and G) statements preceded by 'believe,' 'expect,' 'anticipate,' 'foresee,' 'target,' 'estimate,' 'designed' or similar expressions are forward-looking statements. Because these statements involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors that could cause these differences include, but are not limited to: 1) the extent of the growth of the mobile communications industry, as well as the growth and profitability of the new market segments within that industry which we target; 2) the availability of new products and services by network operators and other market participants; 3) our ability to identify key market trends and to respond timely and successfully to the needs of our customers; 4) the impact of changes in technology and our ability to develop or otherwise acquire complex technologies as required by the market, with full rights needed to use; 5) competitiveness of our product portfolio; 6) timely and successful commercialization of new advanced products and solutions; 7) price erosion and cost management; 8) the intensity of competition in the mobile communications industry and our ability to maintain or improve our market position and respond to changes in the competitive landscape; 9) our ability to manage efficiently our manufacturing and logistics, as well as to ensure the quality, safety, security and timely delivery of our products and solutions; 10) inventory management risks resulting from shifts in market demand; 11) our ability to source quality components without interruption and at acceptable prices; 12) our success in collaboration arrangements relating to development of technologies or new products and solutions; 13) the success, financial condition and performance of our collaboration partners, suppliers and customers; 14) any disruption to information technology systems and networks that our operations rely on; 15) our ability to protect the complex technologies that we or others develop or that we license from claims that we have infringed third parties' intellectual property rights, as well as our unrestricted use on commercially acceptable terms of certain technologies in our products and solution offerings; 16) general economic conditions globally and, in particular, economic or political turmoil in emerging market countries where we do business; 17) developments under large, multi-year contracts or in relation to major customers; 18) exchange rate fluctuations, including, in particular, fluctuations between the euro, which is our reporting currency, and the US dollar, the Chinese yuan, the UK pound sterling and the Japanese yen; 19) the management of our customer financing exposure; 20) our ability to recruit, retain and develop appropriately skilled employees; and 21) the impact of changes in government policies, laws or regulations; as well as 22) the risk factors specified on pages 12 - 22 of the company's annual report on Form 20-F for the year ended December 31, 2005 under 'Item 3.D Risk Factors.'
Loudeye Forward-Looking Statement Disclaimer
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this release are based on current estimates and actual results may differ materially due to risks associated with the fact that the consummation of the transaction is subject to numerous closing conditions, including, among others, (i) the approval of the transaction by Loudeye's stockholders and by regulatory authorities, (ii) Loudeye's ability to obtain consents from third parties to the continuation, modification, extension and/or termination of certain specified contracts, and (iii) the absence of a material adverse effect in Loudeye business or operations, including as a result of loss of employees, loss of customers or failure to maintain a minimum specified cash balance, each as described in the merger agreement; the risk that the transaction may not be consummated if the conditions to closing are not satisfied or waived; the risk that Nokia has certain termination rights in the definitive merger agreement including as a result of a material adverse effect in Loudeye's business or operations; the effect of announcement of the proposed transaction on Loudeye's business and the overall demand for Loudeye's services; the timing of market adoption and movement toward digital mobile music offerings; the ability of Loudeye to offer its services into new territories and markets; the market adoption of new mobile music devices; margin erosion or market shrinkage; other risks set forth in Loudeye's most recent Form 10-Q, Form 10-K and other SEC filings which are available through EDGAR at www.sec.gov. These are among the primary risks we foresee at the present time. Loudeye assumes no obligation to update the forward-looking statements.
Additional Information and Where to Find It
In connection with Loudeye's solicitation of proxies with respect to the meeting of stockholders to be called with respect to the proposed merger, Loudeye will file with the Securities and Exchange Commission (the 'SEC'), and will furnish to stockholders of Loudeye, a proxy statement. Stockholders are advised to read the proxy statement when it is finalized and distributed to stockholders because it will contain important information. Stockholders will be able to obtain a free-of-charge copy of the proxy statement (when available) and other relevant documents filed with the SEC from the SEC's website at www.sec.gov. Stockholders will also be able to obtain a free-of-charge copy of the proxy statement and other relevant documents (when available) by directing a request by mail or telephone to Loudeye Corp.,1130 Rainier Avenue South, Seattle, WA 98144, Attention: Corporate Secretary, Telephone: (206) 832-4009, or from Loudeye's website, www.loudeye.com.
Loudeye and certain of its directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be 'participants' in the solicitation of proxies from stockholders of Loudeye in favor of the proposed merger. Information regarding the persons who may be considered 'participants' in the solicitation of proxies will be set forth in Loudeye's proxy statement when it is filed with the SEC. Information regarding certain of these persons and their beneficial ownership of Loudeye common stock as of March 1, 2006 is also set forth in the Schedule 14A filed by Loudeye on May 10, 2006 with the SEC. This document is available free of charge at the SEC's web site at www.sec.gov or by going to Loudeye's corporate website at www.loudeye.com.
In addition, Nokia may be deemed to be participating in the solicitation of proxies from Loudeye's stockholders in favor of the approval of the proposed merger. Information concerning Nokia's directors and executive officers is set forth in Nokia's proxy material for its 2006 annual general meeting, which was filed with the SEC on February 16, 2006, and Nokia's 2005 annual report on Form 20-F filed with the SEC on March 2, 2006. These documents are available free of charge at the SEC's web site at www.sec.gov or by going to Nokia's Investor Relations page on its corporate website at www.Nokia.com.
www.nokia.com
SOURCE Nokia
Source: PR Newswire (August 8, 2006 - 5:34 AM EDT)
News by QuoteMedia
www.quotemedia.com
AXCLR846
19 years ago
pre-market...
http://quotes.nasdaq.com/aspxcontent/ExtendedTradingTrades.aspx?mode=&page=afterhours&symbol...
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IAMSAM
19 years ago
LOUD going to that $1 target ... it's done!
EMI is my guess for the buy-out ... has been for over a year.
OT:
PTSC is a screamer too!
Patriot Scientific Corporation Announces Unprecedented Microcap Dividend
Business Wire - February 14, 2006 09:42
SAN DIEGO, Calif., Feb 14, 2006 (BUSINESS WIRE) -- In a move virtually unprecedented among Microcap stocks, Patriot Scientific Corporation (OTCBB: PTSC.OB) - a high-tech intellectual properties Company that specializes in developing and licensing high-performance ultra-low power microprocessor technology - today announced that it will issue a cash dividend of $0.02 per share of common stock for shareholders and qualified warrant holders of record as of February 24, 2006. The dividend is payable March 22, 2006.
This dramatic announcement follows closely on the heels of the Company's announcement last week of a buy-back program for up to 20 million stock warrants and the conversion and retirement of all outstanding debentures. Final information as to the number of shareholders and outstanding shares will be provided by the Company's transfer agent as of the record date, but based upon current information and estimates the Company will set aside funds of approximately $7million or more for payment of the dividend from its currently available cash and cash equivalents that amount to approximately $17 million.
This announcement is especially significant because - until less than 12 months ago - Patriot had never shown a quarterly profit, and had never realized significant revenue from its 10-patent portfolio of seminal microprocessor innovations. Since February of last year, the Company's jointly owned patent portfolio has been successfully licensed to Intel, HP and AMD - in the process, generating nearly $24 million in revenue for Patriot. Based on these licenses and other key factors covered in recent SEC filings, Patriot Scientific currently has a market cap of approximately $64 million dollars.
With these successful license negotiations as precedent, the Company - through its marketing alliance with The TPL Group's Alliacense division, - is actively and confidently negotiating for licenses with other U.S. and foreign companies whose products include high speed microprocessors - more than 150 of which were put on notice of likely infringement - and that includes practically every high-tech consumer electronics manufacturer and systems integrator in the global marketplace.
"We are pleased to be in the strong financial position that enables us to offer our loyal shareholders this significant dividend," said David H. Pohl, Chairman and CEO of Patriot Scientific. "The Company strongly believes that more licensing deals and related revenues are likely, although none are assured," Pohl continued. "Patriot Scientific's Board of Directors will consider and decide whether to take such dividend payment actions in the future, based on future revenues and the financial condition of the Company, as well as market conditions and other factors."
Pohl also said that, "This dividend payment, which is rare in the arena of microcap companies, is another important step toward evidencing Patriot Scientific's current financial strength and the fact that the Board and management firmly believe in the Company's future potential. During the past 12 months, the Company has undergone significant changes in management and operating strategy. As a result of those changes and the licensing revenues related to our jointly owned patent portfolio we are now in a favorable cash position, and we are using some of that cash to pay out our first-ever dividend to shareholders."
The action by Patriot Scientific to issue this dividend - and also last week's decision to retire the debentures and buy back what could amount to up to approximately 20 percent of the Company's total outstanding stock warrants at this juncture - were driven by the same impetus that has guided other strategic re-organizational moves that began in 2005. Last year the Company changed both its executive team and the Company's strategic direction, including the signing of a significant agreement with The TPL Group regarding joint ownership and marketing of its patent portfolio.
Patriot Scientific received licensing revenues of $13 million in 2005. The Company received distribution of an additional $10 million in January of 2006 as a result of a license transaction with systems manufacturer HP regarding Patriot's jointly owned patent portfolio.
"The far-reaching changes in 2005 helped pave the way for new growth-oriented initiatives in 2006," Pohl said. "These changes are positive for Patriot. We continue to move forward with the paramount goal of enhancing shareholder value by prudently addressing Company fundamentals and growing the business."
About Patriot Scientific
Patriot Scientific (OTCBB: PTSC.OB) has emerged as an effective and dynamic intellectual property licensing Company, developing and marketing innovative and proprietary semiconductor technologies. The Company's portfolio of proprietary designs encompasses what is believed to be fundamental ultra-low-power array microprocessor technology, as well as pending patents designed to protect Patriot's proprietary technology.
Detailed information about Patriot Scientific can be found on the website www.ptsc.com. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found at www.hawkassociates.com and www.americanmicrocaps.com. An investment profile on Patriot Scientific may be found at http://www.hawkassociates.com/patriot/profile.htm
About the Patent Portfolio
The patent portfolio, also marketed as the MMP portfolio, contains intellectual property that became jointly owned by publicly held Patriot Scientific Corporation and the privately held TPL Group in a settlement between them in June 2005. Both TPL and Patriot assert that their jointly owned patents have long been essential to the design of advanced microprocessors, digital signal processors, embedded processors and system-on-chip devices. Global sales of end products deploying chips using technologies protected by the jointly owned patents are estimated to be greater than $200 billion annually. The MMP Portfolio is exclusively managed by Alliacense, a TPL Group enterprise. While major microprocessor manufacturers such as Intel (NASDAQ: INTC) and Advanced Micro Devices (NYSE: AMD) were early portfolio licensees, Alliacense is now focusing its licensing efforts on system manufacturers.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the Company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the Company's Securities and Exchange Commission filings.
SOURCE: Patriot Scientific Corporation
Attention Group
Media Relations:
Daryl Toor, 770-777-9489
dtoor@attentiongroup.com
or
Hawk Associates
Investor Relations:
Frank Hawkins, 305-451-1888
info@hawkassociates.com
or
Julie Marshall, 305-451-1888
info@hawkassociates.com
Copyright Business Wire 2006
IAMSAM
19 years ago
In light of the mega-volume and 70% rise, one would think there's more "news" in the pipe than this morning's release. Otherwise, will it be the old "buy rumor, sell news?"
Loudeye Announces 2006 Operating Plan and Preliminary Fourth Quarter 2005 Financial Results
PR Newswire - February 08, 2006 07:05
Operating Plan Focuses on Key Markets & Customers and Reduced Cost Structure Fourth Quarter Revenue Exceeds Guidance Due to Approximate 92% Annual Growth in Digital Media Store Services
Feb 08, 2006 /PRNewswire-FirstCall via COMTEX/ -- Loudeye Corp. (Nasdaq: LOUD), a worldwide leader in business-to-business digital media solutions, today announced the implementation of a strategic operating plan focused on key markets and customers and streamlining its operations. This plan will enable Loudeye to eliminate redundancies and significantly reduce its cost structure, while minimizing impact on its largest revenue generating customers. This plan furthers the cost reduction initiatives implemented during the fourth quarter 2005, beginning with the exit of the Overpeer content protection services business. In addition, Loudeye announced record preliminary fourth quarter 2005 revenue and other preliminary financial results.
"We are implementing a plan which aligns our operations and investment behind the areas where we are seeing the most growth, while rationalizing our cost structure and accelerating margin improvement," said Mike Brochu, president and chief executive officer of Loudeye. "We are focusing on our largest markets and revenue generating customers, primarily in Europe, while retaining capabilities to support our strategic goals with mobile music services."
Key elements of Loudeye's 2006 operating plan are as follows:
Focus on Key Markets and Customers. Loudeye's operating plan will focus on the markets and customers which are generating the most economic value for the company. Approximately 80% of total fourth quarter revenue was generated by digital media store services, and substantially all digital media store services revenue was generated in Europe where Loudeye's services have a significant installed customer base. In addition, Loudeye will continue to operate its digital media content services located at its Seattle, Washington headquarters, including encoding and samples services. Loudeye has recently completed an upgrade to its content encoding services, increasing the automation of those services and improving their operating contribution.
Streamline Operations and Align Platforms. Loudeye will immediately align its product development, engineering, information technology and operational resources behind its largest markets and customers. Loudeye's digital media store service operations now will be centralized at its European headquarters in the United Kingdom. These steps will reduce redundant costs in the United States, while minimizing the impact on revenue generating customers in Europe. As part of this alignment, Loudeye has ceased development efforts on a custom digital music service for an unnamed North American retailer, the launch of which previously was delayed. Loudeye and this retailer have terminated their contract, and Loudeye will continue to pursue means to realize value from its investment in this service with other parties.
Reduce Cost Structure. Loudeye believes this plan will allow it to continue to grow revenue while reducing its cost structure significantly. In combination with its previously announced exit of the Overpeer content protection services business in December 2005, the actions taken or contemplated by today's announcement are expected to reduce Loudeye's cost structure by approximately $2.5 million per quarter, or approximately 30% compared to third quarter 2005 levels. Cost savings from these actions, which include personnel reductions and possible funded development, are expected to be realized by the end of the first quarter 2006.
Financing & Strategic Alternatives. In addition to a combination of increasing margins and reducing operating expenses, Loudeye continues to pursue measures to address its liquidity needs through securing additional investments or other strategic alternatives.
Preliminary Fourth Quarter 2005 Results
Fourth quarter 2005 revenue is estimated to be approximately $8.8 million, compared to approximately $6.5 million in the third quarter 2005 and $5.5 million in the fourth quarter 2004. These results exclude content protection services revenue which will be included in the loss from discontinued operations for financial reporting purposes. Digital media store services revenue represented approximately $7.1 million of total revenue, an approximate 48% increase from $4.8 million in the third quarter 2005 and an approximate 92% increase from $3.7 million in the fourth quarter 2004. Substantially all of the revenue growth in the fourth quarter 2005 was attributable to promotional services revenue from an internet service provider in Europe.
Gross profit for the fourth quarter 2005 is expected to be approximately $1.0 million. Excluding results from discontinued operations and other potential charges related to goodwill and other long-lived assets in the quarter, Loudeye expects a narrowed GAAP net loss compared to the third quarter 2005.
While Loudeye is encouraged by its revenue growth, it continues to experience significant losses and has limited cash reserves. Unrestricted and restricted cash, cash equivalents and marketable securities were approximately $10.8 million at December 31, 2005, compared to $16.6 million at September 30, 2005. Restricted cash as of December 31, 2005, was approximately $1.8 million compared to approximately $600,000 at September 30, 2005.
Loudeye intends to release its financial results for the fourth quarter and year-ended 2005 on Thursday, February 23, 2006. Management will host a conference call with investors and financial analysts to discuss these results and to provide further details about its 2006 operating plan at that time.
Preliminary unaudited fourth quarter results and details concerning the 2006 operating plan reflect management's expectations as of the date of this release and are based upon limited available information which is dynamic and subject to change. Results may be materially affected by many factors including those described in the Forward-Looking Statements section below.
About Loudeye Corp.
Loudeye is a worldwide leader in business-to-business digital media solutions. Loudeye combines innovative products and services with the world's largest music archive, a broad catalog of licensed digital music and the industry's leading digital media infrastructure, enabling partners to rapidly and cost effectively launch complete, customized digital media stores and services. For more information, visit www.loudeye.com.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, including forward- looking financial guidance regarding Loudeye's 2006 operating plan and statements about expected margin improvements and cost reductions from the operating plan, as well as other matters. The words or phrases "believes," "expects," "will" and "anticipates" and similar words and phrases are intended to identify such forward-looking statements. The forward-looking statements contained in this press release are based on current estimates and actual results may differ materially. In particular, the preliminary financial results announced today are unaudited and are subject to change. Loudeye's estimated unrestricted cash, cash equivalents and marketable securities balance as of December 31, 2005, of approximately $9.0 million raises substantial doubt about Loudeye's ability to continue as a going concern. Additional risks Loudeye faces include:
-- inability to secure additional investments on acceptable terms, or
at all;
-- the potential effects of the restructuring announced today on our
business and operations including potential loss of customers,
inability to add new customers, and inability to continue to provide
services to existing customers on discontinued technology platforms;
-- customer concentration, especially in our European digital media
store business and our digital media content encoding services;
-- potential loss of key employees;
-- competitive pressures in the market for mobile music services and
customer concentration and technical risks associated with Loudeye's
mobile music service offerings;
-- competition with other providers of business-to-business digital
media store services and associated pricing pressures;
-- the complexity of Loudeye's services and delivery networks;
-- pressure on our margins, in particular resulting from increasing
wholesale content rates;
-- adverse or uncertain legal developments with respect to copyrights
surrounding the creation and distribution of digital content; and
-- other risks set forth in Loudeye's most recent Form 10-Q, 10-K and
other SEC filings which are available through EDGAR at www.sec.gov.
These are among the primary risks we foresee at the present time. Loudeye assumes no obligation to update the forward-looking statements.
As disclosed in our annual report on Form 10-K for the year ended December 31, 2004, we determined that, as of the December 31, 2004 measurement date, there were deficiencies in both the design and effectiveness of our internal control over financial reporting. We assessed those deficiencies and determined that there were eight material weaknesses in our internal control over financial reporting as of December 31, 2004. As a result, management concluded that our internal control over financial reporting was not effective as of December 31, 2004. We may not be successful in remediating each of these material weaknesses and we identify further material weaknesses during the course of our internal control assessment as of December 31, 2005. The existence of a material weakness or weaknesses is an indication that there is more than a remote likelihood that a material misstatement of our financial statements will not be prevented or detected in a future period.
SOURCE Loudeye Corp.
Karen Demarco of mPRm Public Relations, +1-323-933-3399, or kdemarco@mprm.com, for
Loudeye; or Investor Relations of Loudeye Corp., +1-206-832-4000, or ir@loudeye.com
http://www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved.
IAMSAM
21 years ago
Loudeye Strengthens Management Team With Two Executive Appointments
PR Newswire - March 09, 2004 16:10
New Executives Bring Significant Industry Experience in Strategy, Finance, Sales, Marketing, and Operational Management
SEATTLE, Mar 9, 2004 /PRNewswire-FirstCall via COMTEX/ -- Loudeye Corp. (Nasdaq: LOUD), the worldwide leader in business-to-business digital media solutions, today announced the appointments of Larry Madden as executive vice president and chief financial officer, and Bill Fasig as executive vice president of business development, sales and marketing. With decades of experience across major corporations, technology companies and music businesses, the appointments of Madden and Fasig strengthen Loudeye's ability to capitalize on emerging opportunities in the digital media marketplace.
"We believe Larry and Bill's extensive, executive level experience, industry relationships and proven track record for driving growth in both domestic and multi-national markets will be important assets for Loudeye," said Jeff Cavins, president and chief executive officer of Loudeye. "The market for our digital music solutions is rapidly expanding across the globe as more companies realize the impact of digital music on their business. We look forward to having Larry and Bill's strategic expertise and global business development experience to accelerate our worldwide presence and drive the deployment of our products and services."
Larry Madden, Loudeye's executive vice president and chief financial officer
Madden brings nearly 20 years of experience in senior financial management, most recently serving as executive vice president, chief financial officer and chief administrative officer for Equity Marketing, Inc., a Los Angeles based provider of integrated marketing services for connecting multinational corporate brands with popular entertainment content. Previously, Madden was executive vice president and chief financial officer for Atomic Pop, an online music distribution and marketing venture. Before that he served as senior vice president and chief financial officer for the recorded music and music publishing investments of Wasserstein & Co., Inc., an investment bank. Madden also held executive financial roles at Def Jam Records and Polygram International, a leading music and entertainment company. He began his career at Ernst & Young, where he spent 8 years in the firm's media and entertainment practice.
"As consumers' preference continue to shift from physical delivery to legitimate digital media stores and services, the revenue potential for Loudeye increases substantially while our partners find new opportunities for online distribution," said Larry Madden, Loudeye's executive vice president and chief financial officer. "I look forward to being part of this team and helping drive the next generation of business-to-business digital media services."
As executive vice president and chief financial officer, Madden will oversee all aspects of Loudeye's financial operations, human resources and administration, legal and business affairs, and strategic planning. Loudeye's current chief financial officer, Jerry Goade, is assuming the role of senior vice president of finance.
"As we continue to grow on a global scale with increasingly complex deal structures, we will draw on the expertise and strategic insight from our senior financial executives," said Jeff Cavins, Loudeye's president and chief executive officer. "Adding Larry to this team enhances our financial leadership in managing the future growth of the company."
Bill Fasig, Loudeye's executive vice president of business development, sales and marketing
Prior to joining Loudeye, Fasig served as senior vice president of worldwide marketing and corporate affairs for VeriSign, Inc., where he was responsible for the development, implementation, and management of worldwide marketing strategies. In addition, Fasig supervised campaigns for corporate, divisional and geographic business units as well as directed regulatory issues, government relations and industry affairs. In 2001, Fasig was named AdWeek's Technology Marketing magazine's "Marketer of the Year." Before VeriSign, Fasig served as vice president of corporate communications for Compaq, and was chairman and managing director of the global technology practice at Young & Rubicam/Burson-Marsteller. Prior to that, he held several senior management roles during his 9-year tenure at Apple Computer and served as a policy analyst for the U.S. Department of Defense.
In his new role, Fasig will oversee all aspects of Loudeye's worldwide business development and sales, corporate communications, brand building and marketing strategy and execution -- helping to facilitate the further adoption of Loudeye's turnkey digital music and media solutions across the globe.
"The digital music market stands at a pivotal point where companies are seeking offerings to meet growing consumer demand and content owners are looking for new, secure revenue opportunities. Loudeye is perfectly positioned in the middle of the value chain with a strong solution suite and robust media operations infrastructure," said Bill Fasig, Loudeye's executive vice president of business development, sales and marketing. "I look forward to furthering Loudeye's leadership position, expanding our market penetration and driving growth for the company worldwide."
About Loudeye Corp.
Loudeye is the worldwide leader in business-to-business digital media solutions and the outsourcing provider of choice for companies looking to maximize the return on their digital media investment. Loudeye combines innovative products and services with the world's largest music archive and the industry's leading digital media infrastructure enabling partners to rapidly and cost effectively launch complete, customized digital media stores and services. Loudeye, The Business Behind Digital Media(TM). For more information, visit www.loudeye.com.
Forward Looking Statements
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, including statements by Loudeye's CEO about the anticipated performance of Larry Madden as executive vice president and chief financial officer, and Bill Fasig as executive vice president of business development, sales and marketing, and statements by Loudeye's CEO, Mr. Madden and Mr. Fasig relating to the company's growth opportunities resulting from the achievement of Mr. Madden and Mr. Fasig's objectives. These statements are based on current expectations and actual results may differ materially due to risks and uncertainties, including lower- than-expected revenue growth, market penetration, and efficiency increases following the addition of Mr. Madden and Mr. Fasig to the executive team; Loudeye's ability to retain key personnel; unexpected difficulties or costs associated with the integration of Loudeye's multiple technical systems, the possibility of adverse changes in the market for the distribution of digital media; and other risks and uncertainties set forth in our most recent Form 10- Q, Form 10-K and other SEC filings which are available through EDGAR at www.sec.gov. We assume no obligation to update the forward-looking statements.
SOURCE Loudeye Corp.
Media/press, Candice Yusim, cyusim@mprm.com, or Karen DeMarco,
kdemarco@mprm.com, both of mPRm Public Relations, +1-323-933-3399, for
Loudeye; or Investor relations, Michael Dougherty of Loudeye, +1-206-832-4000
or ir@loudeye.com
http://www.loudeye.com
Copyright (C) 2004 PR Newswire. All rights reserved.
IAMSAM
21 years ago
Loudeye and Microsoft Join Forces to Enable Rapid Deployment Of Third-Party Customized Digital Music Services
PR Newswire - December 16, 2003 12:21
AT&T Wireless and Gibson Audio Are First Customers to Embrace Loudeye's Digital Music Solutions Using Windows Media 9 Series
SEATTLE and REDMOND, Wash., Dec 15, 2003 /PRNewswire-FirstCall via Comtex/ -- Loudeye Corp., a leader in managing, promoting and distributing digital media, and Microsoft Corp. today announced they are working together to enable businesses to rapidly and cost-effectively deploy their own branded digital music services and stores. The two companies will promote the adoption of Loudeye's new digital music solutions, which are built on the Microsoft(R) Windows Media(R) 9 Series platform and which make it possible for other companies to create and launch their own digital music stores and services for a significantly reduced upfront financial investment. Initial customers of Loudeye digital music solutions using Windows Media 9 Series include AT&T Wireless and Gibson Audio, a new consumer electronics division of Gibson Guitar Corp.
Loudeye's new digital music solutions, which launched today, include two new services based on Windows Media 9 Series that will enable companies to quickly and inexpensively launch a digital music store and/or Internet radio service under their own brand.
The Loudeye Digital Music Store is a complete, end-to-end digital music store solution designed for companies looking to rapidly and cost-effectively deliver their own branded digital music stores. The Loudeye Digital Music Store can be rapidly integrated with customers' existing technology, branding and infrastructure, reducing their time to market for a fully operational digital music business. In addition, for companies looking to deliver premium radio services under their own brand, the Loudeye iRadio Service offers 100 channels of preprogrammed music that can be delivered to Internet-connected devices supporting Windows Media 9 Series and Windows Media Digital Rights Management (DRM).
Through its built-in support for Windows Media 9 Series, the Loudeye Digital Music Store and iRadio solutions enable companies to deliver high-quality consumer experiences for their digital music services. This support includes high-quality audio and video via Windows Media Audio and Video 9 Series, and reaches to more than 40 portable devices that support Windows Media DRM today, and Fast Streaming to enable a virtually instant-on, always-on streaming experience for broadband users.
"Loudeye's new and innovative Digital Music Store and iRadio solutions open the doors for those companies that want to deploy high-quality digital music experiences for their customers under their own brand in a fast and economical way," said Dave Fester, general manager of the Windows(R) Digital Media Division at Microsoft. "Loudeye is a leader in the industry, recognized for its ability to provide high-quality, customized solutions for digital media, so Loudeye was a natural choice for us to work closely with in this important area."
"This initiative fills an important niche in the marketplace for companies looking to add a branded digital music offering to their existing customer relationship but that lack the technical expertise and service capability needed to bring an offering cost-effectively to the digital music space," said Anthony Bay, chairman of Loudeye. "Through its outsourced design, this model implants Loudeye within the value chain to capitalize on the burgeoning digital media segment as it spreads to new industries and business models."
"The flexibility and richness of Windows Media 9 Series makes it possible for Loudeye to deliver on the promise of digital media for almost any company that wishes to participate in this emerging space," said Jeff Cavins, president and chief executive officer of Loudeye. "Our customers are excited about our work with Microsoft."
Next year, AT&T Wireless plans to be the first wireless carrier in North America to introduce a compelling mobile music offering utilizing Loudeye services and the Windows Media 9 Series platform. The company plans to integrate the online music store experience with all of AT&T Wireless' mMode(TM) capable phones, including the Motorola MPX200 Smartphone, enabling mobile users to discover and purchase music ranging from ring tones to full- length songs.
"As technologies advance and converge, the wireless phone will become the next major platform for music content delivery, and AT&T Wireless will be at the forefront of this transformation," said John Bunyan, senior vice president of consumer data offers at AT&T Wireless. "Working with industry leaders like Loudeye and Microsoft, we will ensure it's easy and fun for customers to discover, experience, share and buy music while on the move."
The Wurltizer Digital Jukebox, which today won "Best of Audio" in the CES 2004 Innovations Awards, is a perfect example of the power that Loudeye and Microsoft together can bring to cutting-edge digital music products. The Wurlitzer Digital Jukebox allows the user to store up to 1,000 CDs in digital format, and then control that music from a wireless touch-screen remote with a remarkably elegant and simple user interface. But unlike other dedicated digital music players, the Wurlitzer Digital Jukebox also gives the user access to 100 channels of digital radio as well as a complete download store, both of which are hosted by Loudeye.
"Because Gibson is new to consumer electronics, we wanted to make a statement by designing the most comprehensive digital music solution on the market, which for us meant including a powerful digital music service," said Kris Carter, president of Gibson Audio. "Loudeye gave us the ability to give the Wurlitzer Digital Jukebox a full-featured digital music service in a fraction of the time, and at a fraction of the cost, it would have taken to develop ourselves."
About Loudeye Corp.
Founded in 1997, Loudeye (Nasdaq "LOUD") provides the business infrastructure and services for managing, promoting and distributing digital media for the entertainment and corporate markets. More information is available at http://www.loudeye.com/.
About Windows Media
Windows Media is the leading digital media platform, used by consumers, content providers, solution providers, software developers and corporations throughout the world. The Windows Media 9 Series platform includes Windows Media Player 9 Series; Windows Media Services 9 Series, the powerful streaming server feature in Windows Server(TM) 2003 for distributing content; Windows Media Encoder 9 Series for content creation; Windows Media Audio and Video 9 Series for the best-quality audio and video; Windows Media Digital Rights Management to help protect content; and the Windows Media Software Development Kit for software developers to develop digital media products and services. Windows Media Player, available in 26 languages, is now the leading media player. More information about Windows Media can be found at http://www.microsoft.com/windowsmedia/.
About Microsoft
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and Internet technologies for personal and business computing. The company offers a wide range of products and services designed to empower people through great software -- any time, any place and on any device.
Microsoft, Windows Media, Windows and Windows Server are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
SOURCE Microsoft Corp.
Photo : NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOG
Wayne Hickey of Rogers & Cowan, +1-425-452-5481, or
whickey@webershandwick.com, for Microsoft; or Karen DeMarco of mPRm,
+1-323-933-3399, or kdemarco@mprm.com, for Loudeye
http://www.prnewswire.com
Copyright (C) 2003 PR Newswire. All rights reserved.
excel
21 years ago
Loudeye Announces Third Quarter 2003 Results
11/6/2003 4:09:51 PM
SEATTLE, Nov 06, 2003 /PRNewswire-FirstCall via Comtex/ -- Loudeye Corp. (LOUD) , a leader in managing, promoting and distributing digital media, today announced financial results for the quarter ended September 30, 2003.
Third Quarter 2003 Financial Results
-- Net Loss. GAAP net loss of $2.3 million or $0.05 per share, and pro forma net loss of $1.2 million or $0.02 per share. Pro forma net loss improved from the second quarter 2003 pro forma net loss of $1.6 million or $0.03 per share, and pro forma net loss of $3.9 million or $0.10 per share in the prior year quarter.
-- Revenues. Revenues of $2.8 million.
-- Gross Margins. Gross margins as a percentage of revenue increased to 46%, up from 42% in the second quarter 2003 and up from 3% in the prior year quarter. Digital media services gross margins as a percentage of digital media services revenue reached 52%. This is the company's best performance as a public company.
-- Operating Expenses. Operating expenses of $3.4 million, flat compared to the second quarter of 2003 and an improvement of 32% compared to the year earlier quarter. The $3.4 million of third quarter 2003 operating expenses reflects a $566,000 increase over second quarter levels in non-cash stock-based compensation expenses, due primarily to an increase in price per share of Loudeye's common stock.
-- Cash and Investments. Cash, short-term and restricted cash and investments increased to $20.5 million as of September 30, 2003, up from $10.4 million as of June 30, 2003.
Loudeye's third quarter 2003 revenues were $2.8 million, compared to $2.9 million reported in the second quarter 2003 and $3.6 million in the prior year quarter. The year-over-year decrease primarily reflects weaknesses in the company's Media Restoration segment. Media Restoration revenues were $0.4 million, a decrease of 64% over the prior year quarter. Loudeye announced today its plan to exit its investment in the Media Restoration business. Please see the separate press release issued today for more details on this transaction.
The company's gross margins grew as a percentage of revenue to 46% in the third quarter 2003, compared to 42% in the second quarter 2003 and 3% in the prior year quarter. In addition, the company's core digital media services segment, comprising its music samples, digital fulfillment and webcasting services, recorded 52% gross margins as a percentage of revenue in the third quarter 2003, compared to 50% in the second quarter 2003 and negative (17)% in the prior year quarter.
The company reported a net loss in accordance with generally accepted accounting principles (GAAP) of $2.3 million or $0.05 per share in the third quarter of 2003, compared to a GAAP net loss of $2.1 million or $0.04 per share in the second quarter 2003 and a GAAP net loss of $4.1 million or $0.10 per share in the year-earlier quarter. The company's GAAP loss reflected a $0.01 increase primarily as a result of a $566,000 increase in stock-based compensation expense resulting from an increase in the company's stock price as well as a $222,000 non-cash charge related to common stock warrants issued in connection with the company's equity financing completed in the quarter.
Pro forma net loss was $1.2 million or $0.02 per share in the third quarter 2003, compared to pro forma net losses of $1.6 million or $0.03 per share in the second quarter 2003 and $3.9 million or $0.10 per share in the year-earlier quarter. Pro forma net loss excludes charges related to the amortization of intangibles, stock-based compensation, special charges, and in the quarter ended September 30, 2003, a charge for the increase in fair value of common stock warrants related to a common stock offering completed during the quarter. A reconciliation of Loudeye's GAAP financial results with its pro forma financial results is set forth below after the accompanying condensed consolidated statements of operations.
The company reported $20.5 million in cash, short-term investments and restricted cash and investments as of September 30, 2003. The third quarter 2003 change primarily reflects net proceeds of $11.5 million received from the equity financing completed in the third quarter, continued improvements in cash management and reduced expenditures.
"During this quarter we set the foundation for our growth strategy, by making strides in improving our margins, reducing cash operating expenses, increasing our cash resources and further focusing on our core digital media services business. We continue to push toward profitability and made important progress in the third quarter," said Jeff Cavins, Loudeye's president and chief executive officer. "Now that we have developed this foundation, revenue growth is a critical focus of the management team, and we continue to work to show progress there as well."
Third Quarter 2003 Webcast Information
Loudeye management will conduct an audio webcast to discuss these financial results. The public is invited to listen in on this webcast. Management will discuss financial and operating results in the quarter and end the call with a question and answer session. Management will also provide a slide presentation to accompany its statements, available in conjunction with the audio webcast. Information regarding the third quarter 2003 results webcast and slide presentation is as follows:
Date: Thursday, November 6, 2003
Time: 5:00 p.m. EST/2:00 p.m. PST
Audio Webcast: 5:00 p.m. EST/2:00 p.m. PST; live and archived for one year; Webcast from http://www.loudeye.com/common/aboutus/investorrelations/earningscalls.asp
Slide Presentation: Participants accessing the audio webcast will be able to view an accompanying management slide presentation synchronized with the audio webcast.
About Loudeye Corp.
Loudeye provides the business infrastructure and services for managing, promoting and distributing digital media for the entertainment and corporate markets. For more information, visit www.loudeye.com.
Forward Looking Statements
This press release contains forward-looking information within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements about cash flow, profitability goals, improvements in revenue and other factors. Our forward-looking statements are based on currently available information, which management has assessed, but which is subject to rapid change due to risks and uncertainties that affect our business, including limited visibility of future demand for our products and services; current uncertainties in our marketplace which may affect expected demand, customer selection criteria and sales cycles; variability in the amount and timing of expenses and cash usage; negative macroeconomic conditions; increased competition; adverse developments in any material customer or copyright holder relationships; ability to acquire and maintain copyright licensing agreements; uncertainty involving intellectual property rights involved with the reproduction and online distribution of digital media; the loss of service of our hosting infrastructure, including the failure of third party service providers; our ability to retain key personnel; and other factors beyond our control. Our forward-looking statements should be considered in the context of these and other risk factors disclosed from time to time in the company's filings with the Securities and Exchange Commission, including our annual report on Form 10-K and quarterly filings on Form 10-Q (available through EDGAR at www.sec.gov). We assume no obligation to update our forward-looking statements.
Use of Non-GAAP Financial Information
The press release and webcast contain financial metrics that are not based on accounting principals generally accepted in the United States ("GAAP"). To supplement our consolidated financial statements presented on a GAAP basis, we have included non-GAAP "pro forma" measures of operating results, which excludes certain costs and expenses. The pro-forma net loss and pro forma net loss per share presented in the press release and webcast exclude charges for amortization of intangible and other assets, stock-based compensation, special charges, and the increase in fair value of common stock warrants. Included in the press release is a reconciliation of the non-GAAP financial measures to our GAAP financial results. As further described below, we believe the pro forma presentation enhances an overall understanding of our financial performance, and is used by management for that purpose.
Although management believes the above non-GAAP financial measures enhance investors' understanding of our business and performance, these non-GAAP financial measures are inherently limited in that they exclude a variety of costs that are required to be included in a GAAP presentation, and do not therefore present the full measure of our recorded costs against our revenues. Management compensates for these limitations in non-GAAP results by also evaluating the company's performance based on traditional GAAP financial measures. Accordingly, investors should consider these pro forma results together with GAAP results, rather than as an alternative to GAAP basis financial measures. Additional details regarding these items are included in the Company's form 8-K filed concurrently with this press release.
LOUDEYE CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share data)
Three Months Ended Nine Months Ended
Sept. 30, June 30, Sept. 30, Sept. 30,
2003 2003 2002 2003 2002
REVENUES $2,811 $2,903 $3,626 $9,024 $10,103
COST OF
REVENUES 1,524 1,678 3,513 5,744 10,390
Gross margin 1,287 1,225 113 3,280 (287)
Gross margin
percent 46% 42% 3% 36% -3%
OPERATING
EXPENSES
Research and
development 399 392 425 1,368 2,689
Sales and
marketing 485 835 1,370 2,867 5,831
General and
administra-
tive 1,615 1,740 2,366 6,106 8,603
Amortization
of
intangibles
and other
assets 157 260 810 943 2,219
Stock-based
compensation 761 195 91 998 (463)
3,417 3,422 5,062 12,282 18,879
Special charges -- -- -- 8,437 1,890
OPERATING
LOSS (2,130) (2,197) (4,949) (17,439) (21,056)
INCREASE IN
FAIR VALUE OF
COMMON STOCK
WARRANTS (222) -- -- (222) --
OTHER INCOME
(EXPENSE),
net 12 135 861 201 1,051
Net loss $(2,340) $(2,062) $(4,088) $(17,460) $(20,005)
Basic and
diluted
net loss
per share $(0.05) $(0.04) $(0.10) $(0.37) $(0.49)
Weighted
average shares -
basic and
diluted 50,401 45,931 40,664 47,659 40,442
NON-GAAP PRO FORMA INFORMATION:
(See note below)
Net loss $(2,340) $(2,062) $(4,088) $(17,460) $(20,005)
Adjustments
to reconcile
GAAP net loss
to pro forma
net loss:
Amortization
of intangibles
and other
assets 157 260 810 943 2,219
Stock-based
compensation 761 195 91 998 (463)
Special charges -- -- -- 8,437 1,890
Increase in
fair value
of common
stock
warrants 222 -- -- 222 --
Other income
from final
settlement
of acquisition
terms -- -- (700) -- (700)
Pro forma
net loss $(1,200) $(1,607) $(3,887) $(6,860) $(17,059)
Basic and
diluted
pro forma
net loss
per share $(0.02) $(0.03) $(0.10) $(0.14) $(0.42)
Weighted
average shares -
basic and
diluted 50,401 45,931 40,664 47,659 40,442
LOUDEYE CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands)
Sept. 30, Dec. 31,
2003 2002
ASSETS
Current assets:
Cash and short-term investments $19,487 $11,867
Restricted cash 413 --
Accounts receivable, net 2,370 2,501
Prepaid expenses and other current assets 603 2,101
Total current assets 22,873 16,469
Restricted investments 556 1,500
Property and equipment, net 1,973 3,590
Goodwill -- 5,307
Intangible assets, net 215 1,758
Other assets, net 493 905
Total assets $26,110 $29,529
LIABILITIES
Current liabilities:
Accounts payable $1,284 $1,203
Line of credit 1,227 --
Accrued compensation and benefits 856 904
Other accrued expenses 1,201 1,424
Accrued special charges 1,483 2,903
Accrued acquisition consideration 1,059 1,059
Deposits and deferred revenues 1,054 305
Current portion of long-term debt
and capital leases 442 788
Total current liabilities 8,606 8,586
Deposits and deferred revenues 186 --
Common stock warrants 1,678 --
Long-term debt and capital leases,
net of current portion 280 591
Total liabilities 10,750 9,177
STOCKHOLDERS' EQUITY 15,360 20,352
Total liabilities and stockholders' equity $26,110 $29,529
SOURCE Loudeye Corp.
media
http://www.prnewswire.com
excel
21 years ago
Loudeye Signs Contract to Provide Wireless Music Content for Cellus USA
10/7/2003 7:05:00 AM
SEATTLE, Oct 7, 2003 /PRNewswire-FirstCall via COMTEX/ -- Loudeye Corp. (LOUD) , a leading provider of services for the management, promotion and distribution of digital media, today signed a contract to provide song segments to Cellus USA, the largest retailer of premium mobile content in America and the North American counterpart to Cellus Norway, a leading provider of mobile phone content in Scandinavia and a major provider in Asia and Europe.
Under the agreement, Loudeye is providing licensed independent label and aggregator music tracks and sounds from its music archive and managing label licensing and reporting on behalf of Cellus USA and its carrier partners. By using Loudeye, Cellus USA can offer customers rich media ringback tones for use on consumer mobile phones. Cellus will distribute this content through the carrier-based MyCaller ringback personalization service.
The application known as ringbacks enables a wireless subscriber to select a rich media song or audio clip to play in between the time a user dials a phone number and when the party answers, replacing the standard ringing sound. This service can be provided to any subscriber, regardless of handset make and model.
Ringback tones have already generated significant interest from international wireless users, particularly in China, Malaysia and South Korea. The Yankee Group estimated that ringback tones in South Korea alone generated wireless carriers approximately $91.4 million last year, a figure that is expected to grow in South Korea and quickly expand into the U.S. and European markets.
"A key differentiator in the ringtone and ringback market involves access to an extensive music catalog and the infrastructure to support the transmission of that content to millions of mobile phone users," said Bruce Ellis, Cellus USA's chairman and chief executive officer. "Loudeye was a critical partner in assisting with the population of our music catalog and managing reporting requirements on the usage of that content. Outsourcing these responsibilities allowed us to focus on our deployments with wireless carriers."
"This deal represents yet another area of the wireless media market where our music archive, services and infrastructure can add unparalleled value to companies in the space," said Jeff Cavins, Loudeye's president and chief executive officer. "A model that's already proven overseas, ringback tones are a burgeoning opportunity for wireless content providers and carriers to create new revenue streams, differentiate themselves in the marketplace and deepen customer relationships."
About Loudeye Corp.
Loudeye provides the business infrastructure and services for managing, promoting and distributing digital content for the entertainment and corporate markets. For more information, visit www.loudeye.com.
About Cellus
Cellus USA is a leading provider of premium mobile content in North America with significant presence in the pre-paid retail marketplace. Cellus USA also provides a wide range of content to several wireless operators in the US on a wholesale distribution basis. Visit www.cellus-usa.com for more information.
Forward Looking Statements
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about Loudeye's relationship with Cellus USA and the use, performance, expected benefits and projected revenue associated with Loudeye's digital media services, including song samples, rich media ringbacks and ringtones, and the Loudeye Media Framework; and statements made by Loudeye's president and CEO. These statements are based on current estimates and actual results may differ materially due to risks, including the possibility of adverse changes in the market for distribution of digital music that we serve; adverse or uncertain legal developments with respect to copyrights surrounding the creation and distribution of digital music; pricing pressures and other activities by competitors; the failure of our hosting infrastructure; the complexity of our services and delivery networks; any problems or failures in the structure, complexities or redundancies of our network infrastructure; failures in third party telecommunication and network providers to provide required transmission capacity; our capacity to scale and support third party technologies; lack of market acceptance for our products and services; the possible delay in the adoption of digital media or related applications on the web in general; and other risks set forth in our most recent Form 10-Q, Form 10-K and other SEC filings which are available through EDGAR at www.sec.gov. We assume no obligation to update the forward-looking statements.
SOURCE Loudeye Corp.
media, Andrew Cullen, of Barokas Public Relations,
+1-206-264-8220, or andrew@barokas.com, for Loudeye; or investors, Michael
Dougherty, Investor Relations of Loudeye, +1-206-832-4000, or ir@loudeye.com
http://www.cellus-usa.com
excel
21 years ago
Loudeye Appoints Microsoft Executive and Digital Media Veteran John Martin as Senior Vice President of Technology and Development
9/9/2003 7:05:00 AM
SEATTLE, Sep 9, 2003 /PRNewswire-FirstCall via COMTEX/ -- Loudeye Corp. (LOUD) , the leading provider of services for the management, promotion and distribution of digital media, today announced the appointment of John Martin as senior vice president of technology and development. In this role, Mr. Martin will oversee the development, integration and implementation of Loudeye's digital media services and infrastructure.
Most recently, as general manager of Microsoft's Windows Media Services, Martin led the development efforts of all Internet-based services of the Windows Media Player as well as Windowsmedia.com, the highest trafficked digital media site on the Internet and an integral component of the Windows Media Player experience.
Mr. Martin, 39, has been a key executive and technology architect for Microsoft's digital media efforts. Mr. Martin has worked over ten years at Microsoft, five years of which were spent in the Windows Media Division where he pioneered the integration of Internet-based services into the Windows operating system and the Windows Media Player. Mr. Martin was responsible for the creation and ongoing development of all Internet-based services of the Windows Media Player, Internet Explorer and Windows Shell. This included the highly popular Windowsmedia.com and core Windows Media services such as the Windows Music, Movies and TV identification and metadata service. Collectively, Mr. Martin ran a business with over 100 employees that served more than 2.5 billion requests a month to the broader 400+ million Windows clients world-wide.
"Over the years, Loudeye has assembled a wealth of technical assets and digital media infrastructure that will play an important role as more companies deploy digital media services and launch new products," said John Martin, Loudeye's senior vice president of technology and development. "Although industry leaders such as Microsoft have delivered the foundation technologies that enable a rich digital media experience, it is too costly, time consuming and complex for companies to attempt to develop a branded digital media services infrastructure on their own. This places Loudeye in a unique position to be a critical partner to the development and deployment efforts of almost every company looking to enter the digital media services market. In my new role, I intend to ensure that Loudeye is the market leader in this space."
Previously at Microsoft, Mr. Martin pioneered the creation of Microsoft.com, one of the first Windows product extension experiences and one of the largest sites on the Internet. The early part of his career at Microsoft included working in program management on the Windows NT 3.1/3.5 teams.
Before joining Microsoft, Mr. Martin spent five years working at the National Aeronautical and Space Administration (NASA) where he led part of the NASA Science Internet (NSI) project. In this capacity, Mr. Martin jointly developed the early Internet backbone by deploying and developing wide-area network solutions for NASA-funded scientists worldwide where information sharing was an integral part of the space and earth exploration systems.
"John's proven track record as a leading technologist in the digital media industry will be invaluable to Loudeye and our partners and customers. John has the skills and experience needed to build and deliver complex, high quality, massively scalable digital media products and services," said Anthony Bay, Loudeye's chairman of the board. "We believe John's technical knowledge, vision and insight into the industry will strengthen our service offerings, deepen our proprietary intellectual property base, broaden our development efforts and help us add further value to customers at this critical juncture in the digital media sector."
"John's been one of the most important and influential innovators in the digital media industry and we believe he will be a strong complement to our executive team," said Jeff Cavins, Loudeye's president and chief executive officer. "His work over the last decade has helped define the current digital media experience and lay the groundwork for its future development."
About Loudeye Corp.
Loudeye provides the business infrastructure and services for managing, promoting and distributing digital content for the entertainment and corporate markets. For more information, visit www.loudeye.com.
Forward Looking Statements
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995, including statements by Loudeye's chairman of the board and CEO about the anticipated performance of John Martin as senior vice president of technology and development, and statements by the chairman of the board, CEO and senior vice president of technology and development relating to the company's growth opportunities resulting from the achievement of Mr. Martin's objectives; the leveraging of its technical assets to increase revenue and improve gross margins, and the new digital media initiatives expected from Loudeye's current and potential customers. These statements are based on current expectations and actual results may differ materially due to risks and uncertainties, including lower-than-expected revenue growth, market penetration, and efficiency increases following the addition of Mr. Martin to the executive team; Loudeye's ability to retain key personnel; unexpected difficulties or costs associated with the integration of Loudeye's multiple platforms technical systems, the possibility of adverse changes in the market for the distribution of digital media; and other risks and uncertainties set forth in our most recent Form 10-Q, Form 10-K and other SEC filings which are available through EDGAR at www.sec.gov. We assume no obligation to update the forward-looking statements.
SOURCE Loudeye Corp.
press, Andrew Cullen of Barokas Public Relations,
+1-206-264-8220, or andrew@barokas.com, for Loudeye; or investors, Michael
Dougherty of Loudeye Corp., +1-206-832-4000, or ir@loudeye.com
http://www.loudeye.com
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