ENCINO, Calif., Sept. 25, 2006 (PRIMEZONE) -- NuTech Digital, Inc. (OTCBB:NTDL), a diversified media and entertainment company, today provided an update regarding its ongoing corporate restructuring process. NuTech announced last year the Company's intention to restructure its core business products and focus on the growing sector of internet media distribution with plans to expand into mobile music.
Lee Kasper, Chief Executive Officer of NuTech Digital, stated, "Restructuring has given NuTech Digital the opportunity to sustain strong revenue growth by concentrating on the distribution of our licensed content. Our primary business goal going forward is to aggressively promote our Platinum Concert Series and continue increasing our number of signed artists. We continue to streamline our operating efficiencies as we pursue new ways to reduce our cost of doing business and position this company for growth in the High Definition music industry, with a focus on profiting from original and licensed content."
NuTech Digital further announced the re-evaluation of its adult programming content and is currently negotiating sales of existing inventory.
About NuTech Digital
NuTech Digital is a publicly traded diversified media and entertainment company that offers original and licensed content via a worldwide network of wholesale distributors, retailers and internet entities, including Warner Music and CinemaNow. NuTech Digital also facilitates authoring services to content providers in the entertainment industry and utilizes state-of-the-art Digital Rights Management (DRM) technology to distribute high resolution digital content via the internet.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that if they never materialize or prove incorrect, could cause NuTech Digital, Inc.'s results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statement that could be deemed forward-looking statements, including any projections of earnings, revenues, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in NuTech Digital, Inc.'s reports filed with the Securities and Exchange Commission.