BEVERLY HILLS, Calif., Aug. 2, 2000 (PRIMEZONE) -- Modern Records, Inc. (OTCBB:MDNR) reported today that it has signed a distribution agreement with Electric Kingdom Distribution Corporation of New York, NY which will provide Modern Records with national distribution and exposure for many of their new and upcoming artists, which will integrate various genres of music, and allow them to thoroughly penetrate the $20 billion domestic music industry.
"This ground breaking agreement really puts Modern Records ahead of the pack in terms of independent record labels. We are now going to aggressively seek those artists that have been neglected or ignored by the industry. Because of the recent consolidations and mergers, we feel the artist's best interests are not being served. The agreement will allow Modern to break new artists into the national market and to link with international distributors in accordance with each artist's needs," stated Randy Jackson, President/CEO of Modern Records, Inc."
ABOUT MODERN RECORDS:
Modern Records, Inc., an independent record label, was founded in 1980 by Paul Fishkin, Danny Goldberg, and Stevie Nicks. Since 1981, after pursuing a successful solo career from Fleetwood Mac, Ms. Nicks' seven releases on the Modern Records label sold over 15 million albums. In May of 1997, Randy Jackson, a member of the world-renowned Jackson Family and "The Jacksons" music-recording group, became President and CEO of Modern Records and has reconstructed the Company to accommodate today's musical climate. He has signed The Jacksons to the label, new R&B artist Abel Mason, Rap artist Lil' Jay, and Pop/Rock singing sensation "Tiffany."
Modern has also invested in other media and entertainment including digital music downloading over the internet through MCY.com and became a partner in the off-Broadway hit "Inappropriate." Modern Records has leverage its relationships with industry executives, producers, artists, and writers to create the most dynamic independent label in the recording industry.
ABOUT ELECTRIC KINGDOM DISTRIBUTION CORPORATION:
Electric Kingdom Distribution Corp., one of the nation's fastest growing independent music distributors, is considered by key retailers, labels, and artists as one of the "Top 10 Choices" of independent distributors of music in the U.S. The driving force behind the Company is Gordon Bahary, the nation's only distribution company owner who is a renowned songwriter/producer who has written and produced hits selling over five million records which are considered "classics." He has worked closely with such legendary artists as Stevie Wonder, Herbie Hancock, Ramsey Lewis, and many others. The company has established shelf space with nearly every major music retailer including Tower Records, Virgin Mega-Stores, Sam Goody, Wal-Mart, Barnes & Noble, Borders, HMV, Musicland, Coconuts, and Strawberries during a time when these retailers were significantly reducing the number of record distribution companies that serve them.
The foregoing contains forward looking statements. These forward looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward looking statements as a result of a variety of factors, including prevailing economic conditions as they effect the music industry in general. In light of these risks and uncertainties, there can be no assurance that the forward looking statements contained in this document will in fact transpire or prove to be accurate.
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The Blaine Group
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