RICHARDSON, Texas, Aug. 27, 2004 (PRIMEZONE) -- Immediatek (OTCBB:ITEK) announced today that it has been in the process of implementing a realignment of its management structure in anticipation of greater business through its DiscLive subsidiary. Rich Isaacson continues as the CEO of DiscLive and Stephen Prendergast, currently DiscLive's West Coast GM, will assume the role of president of DiscLive. It is anticipated that he will be assigned additional duties within Immediatek and work closely with the management team.
Prendergast has over 30 years in the music business, and has been involved heavily on the live and touring side of the business, an important factor in the continuing success of DiscLive's groundbreaking services.
Sami Valkonen has left his position as an officer and employee of DiscLive.
DiscLive is the pioneer in the quickly growing market of live discs made available immediately after the concert. The company is expanding its business rapidly as the live disc phenomena continues to grow.
DiscLive (www.disclive.com) has completed tours from Vermont to California as well as in Canada and the United Kingdom, with its state-of-the-art mobile recording and production facility that can produce 1,000 high quality CDs in less than 20 minutes. The New York-based company is headed by Rich Isaacson, CEO, and Stephen Prendergast, President, each of whom have extensive track records in the music industry. A May 2 headline in The New York Times dubbed the DiscLive offer of legal, high-quality CDs made available immediately after the concert "Rock's Best New Souvenir."
Immediatek (OTCBB:ITEK) is the developer of NetBurn Secure(TM) (www.netburncd.com), the only "single-click CD download and burn" software product on the market that helps record labels, artists, and content providers curb Internet piracy and protect their revenues by providing copy control even after digital music has been burned to disc, and which provides a new paradigm in digital delivery through the NetBurn Portal System. Immediatek is combining technologies to create new and exciting product offerings, all geared for creating new revenue streams for artists and labels, and implementing copy management to help reduce illegal file-sharing activity. Immediatek was founded by CEO and musician Zach Bair, who also founded venture-backed Voyence (www.voyence.com) as PowerUp Networks in 2000. NetBurn Secure(TM) also employs technology by third parties such as Microsoft (Nasdaq:MSFT) and includes security components by SunnComm International (SCMI). Immediatek's company website is www.immediatek.com.
Safe Harbor Statement: This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors, including but not limited to, changes in the retail market place, changes in underwriting results affected by economic conditions and other factors described from time to time in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10KSB for the year ended December 31, 2002. All forward-looking statements made in this press release are based on information presently available to management of the Company. The Company assumes no obligation to update any forward-looking statements.
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