MusicNet Announces Formation of 'MediaNet' Division

MusicNet Announces Formation of 'MediaNet' Division

Leading Digital Entertainment Service Provider Creates Division to Expand Content Licensing for Music, Books and Videos

NEW YORK, June 22 /PRNewswire/ -- MusicNet, the world's leading business- to-business digital entertainment service provider, today announced the formation of MediaNet, a new Company division dedicated to licensing digital media content, including music, books and videos. MusicNet currently offers its distribution partners a robust catalog of more than 2 million licensed songs that encompasses all of the major record labels and more than 40,000 independent labels, and music videos from Digital Rights Agency, ZebraLution GmbH and Navarre Corporation. MediaNet will serve as the Company's digital content licensing aggregator and continue to bolster its music catalog and expand upon its offerings of books and videos.

"As MusicNet continues to help the world's best known consumer brands launch compelling digital entertainment services, we are committed to diversifying our digital media offerings to address the needs of consumers," said Alan McGlade, President and CEO of MusicNet. "MediaNet will build upon our strong licensing relationships and facilitate new partnerships that will bring today's most popular properties into the digital world."

For more information about how to license digital media content with MediaNet, please contact licensing@medianetdigital.com.

About MusicNet

MusicNet is the world's leading provider of business-to-business digital entertainment services. The Company offers the content and white-label technologies used to create music and video download and subscription services. The preferred partner of many top consumer brands, MusicNet's scalable platform delivers a quick and cost-effective path to market for PCs, portable music devices, mobile phones and beyond. The Company offers a broad range of products for companies that want a turnkey and full-service solution for offering digital music and video. MusicNet is headquartered in New York and has offices in Seattle and London. MusicNet is wholly-owned by Baker Capital, a New York-based private equity firm with $1.5 billion under management.

Source: MusicNet

CONTACT: Alan Lewis, Director of Corporate Communications of MusicNet,
+1-212-704-2056, alewis@musicnet.com

Web site: http://www.musicnet.com/

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