LAS VEGAS, Sept. 18, 2001 (PRIMEZONE) -- Media and Entertainment.com, Inc. (OTCBB:MEDE), a rapidly growing leader in communications services for the entertainment industry, announced today that it has completed its acquisition of Nexcode, Inc., giving the company the ability to stream video over the Internet at very high speeds, matching television quality pictures online. Nexcode has developed state-of-the-art technology that permits video to be broadcast online at 24-30 frames per second, without cumbersome downloading and buffering like other popular technologies such as Microsoft Corp.'s (Nasdaq:MSFT) Windows Media Player, Apple Computer Inc.'s (Nasdaq:AAPL) Quick Time or RealNetworks, Inc.'s (Nasdaq:RNWK) Real Player. This means that Media and Entertainment will now be able to broadcast videos, commercials and movie trailers to online viewers at speeds that are up to 100 times faster than before.
"The acquisition of Nexcode's technology represents a major step forward for our company, placing us solely in the lead for super fast, high-quality video streaming," says Roger Paglia, CEO of Media and Entertainment.com. "This strategic acquisition should pay for itself many times over as it helps us attract major clients throughout the international entertainment industry. This technology will enable us to offer motion picture studios and record labels the highest quality, multimedia broadcast networks at extremely competitive prices. We see this as a huge milestone not just for our company, but for the whole industry."
In the deal, of Media and Entertainment.com has acquired exclusive rights to utilize Nexcode's proprietary NetDvD(tm) technology, which converts video files into an Internet streamable format that run on platforms such as Real Player, Windows Media Player and Quick Time. It allows consumers to view video online in a full screen format, with the same quality as television, without high-speed Internet connections. The NetDvD(tm) encoding method is compromised of a hybrid MPEG Codec, which initially converts video files into an Internet-streamable format this is viewable with any program that has the capabilities of converting Audio/Video Interleave files.
"We are pleased to be joining forces with a company that shares our vision for secure streaming content," says Nana Yalley, CEO and Co-founder of Nexcode. "With Media and Entertainment.com's business development expertise, industry brand recognition and robust expansion strategy, we will be able to significantly accelerate the delivery of NetDvD(tm) technology and solutions to our shared customer base."
"Initiating this key acquisition so soon after our Matthews Affiliated Productions, Inc. merger is testimony to the drive and effectiveness of our organization. During this short time frame, we have made great strides to build Media and Entertainment.com into a major player in this industry and are on track to announce positive results in the very near future. We anticipate that this acquisition will be responsible for sizable contributions to our bottom line in the fourth quarter of 2001 and for years to come," adds Paglia.
About Nexcode
Nexcode's flagship product is its proprietary NetDvD(tm) technology that enables highly scalable, fault tolerant, fully integrated scheduled and live video streaming. This high-performance solution offers easy access, a convenient Web-based remote management console and a flexible structure. Above all, NetDvD(tm) provides broadcasters with a secure solution to stream content from source to client.
About Media and Entertainment.com
Media and Entertainment.com is a growth oriented multi-faceted entertainment company consisting of Television and Motion Picture Production facilities and Production Office buildings at multiple locations, services for the production and distribution of content worldwide and a full service advertising-media agency. The continued growth of its business is expected to be facilitated through further acquisitions of synergistic companies and through the formation of strategic partnerships and alliances.
This release contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes" or statements indicating certain actions "may," "could" or "might" occur. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.