NEW YORK, N.Y., April 2, 2003 (PRIMEZONE) -- Diversified Media Holdings, Inc. (Pink Sheets:DVHI) has signed a Letter of Intent with Music Broadcasting International to establish a joint-venture company for the purpose of entering into contracts with various artists for the management and exploitation of their websites and licensed intellectual properties. The first artist to be presented through the joint venture will be Elton John's website and fan club, The Rocket Club.
Music Broadcasting International ("MBC") is a 20-year-old London-based promotion-and-production company that has presented in concert some of the world's greatest artists including Elton John, Ella Fitzgerald, Tony Bennett, Aretha Franklin, Miles Davis, The Three Tenors to name just a few in worldwide venues. Diversified Media Holdings, Inc ("DMH") provides Entertainment and Ethnic Programming via Broadband and the Internet Protocol technologies.
Sir Elton John performed over 120 concerts worldwide in 2002 entertaining an estimated 2 million people live. The Rocket Club was launched in 2000 and has over 12,000 members. The Rocket Club website will provide on-line concert booking, an on-line message board, exclusive merchandise, CD's, DVD's, signed artwork, an archive of never-before-seen photos, news stores and video clips, as well as limited-edition collectibles.
Pat Grotto, Chairman and CEO of DMH said, "We couldn't be more pleased to launch our new joint venture with Sir Elton whose worldwide stature and recognition is second to none."
The joint venture will develop exclusive fan based clubs, host webcasts, launch a digital radio station, and will provide interactive programming not only for Sir Elton John, but for other artists who will be announced shortly.
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