Festival Industry Begins New Era: Festival Productions Merges with Shoreline Media to Form 'The Festival Network'

Festival Industry Begins New Era: Festival Productions Merges with Shoreline Media to Form 'The Festival Network'

Combined company will produce the largest number of music festivals in the world and deliver more than 105 days of live music at marquee international venues in 2007

NEW YORK, Jan. 25 /PRNewswire/ -- Festival Productions, Inc., George Wein's internationally celebrated music festival company, has joined with Shoreline Media, LLC to form The Festival Network, LLC ("The Network"), creating one of the world's premier entertainment and production companies. This move positions the organization to transform the festival industry.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070125/NYTH059LOGO )

The recently consummated transaction marks a new era for lifestyle marketing. Through The Network's consolidation of the destination festival market, music fans will enjoy more diverse live entertainment experiences and content. At the same time, corporate sponsors will gain access to highly coveted audiences across a constellation of events through a single, unique and efficient marketing channel.

Headquartered in Manhattan, with offices in Los Angeles, The Network will produce 18 music festivals in 2007 and will rapidly expand its offerings in 2008 and beyond. With live musical entertainment as its foundation, The Network is positioned to become a dominant force in the multi-billion dollar markets for experiential marketing, sponsorship and after-market media. Leveraging its deep international relationships and expertise, the company will also be producing festivals leading up to, and coinciding with, the 2008, 2010 and 2012 Olympic Games, as well as with other major sporting events.

"I've waited for years to find the right partner who can guarantee the legacy of Festival Productions, of which I am so proud. Now I can't wait to see what we can achieve together," said George Wein, founder of Festival Productions and creator of such historic events as the Newport Jazz Festival, the New Orleans Jazz & Heritage Festival, the Newport Folk Festival and hundreds of other festivals, concerts and tours throughout the world. "With the vision, executive experience and resources behind The Festival Network, we'll be able to make some long-held dreams come true."

Chris Shields, CEO of The Festival Network, added, "We're especially honored to be working with industry icon George Wein, the man who launched 'the Festival Era'. It's his equation of location and artistry that lies at the heart of the festival experience. With this merger, we will continue to expand upon the company's sophisticated productions in unique and beautiful destinations around the world. We now have the expanded capability of providing corporate sponsors a level of marketing integration and reach never before offered."

Among several multifaceted business leaders who have dedicated their resources and expertise to The Network's vision are its Chairman, Dr. Joseph Stanislaw, co-founder, former President and CEO of Cambridge Energy Research and a recognized authority on corporate strategy and geopolitics, and Richard Sands, Chairman and CEO of Constellation Brands (NYSE:STZ), the leading international producer and marketer of wine, spirits and imported beer.

"Destination festivals have become cultural institutions that attract the most desirable and receptive demographic," said Sands. "From a brand marketer's perspective, The Network will give its sponsor-partners one-stop access to national festival audiences for the first time. It's exciting and gratifying to work with professionals who have a passion for music, the people who create and play it and the people who love it."

Stanislaw underscores a unique feature of The Network -- its commitment to environmental sustainability. "Beyond producing cultural offerings, we want to ensure a harmonious existence between the festivals and the surrounding eco-systems," he said. "We believe The Network's example of creating green events will educate and inspire audiences worldwide."

The Festival Network is advised by The Jordan, Edmiston Group, a New York City-based investment bank serving the media and information industries. Legal counsel for The Festival Network is the international law firm Akin Gump Strauss Hauer & Feld LLP.

The Festival Network is a multifaceted lifestyle marketing and production company led by music industry and marketing veterans. The company develops, acquires and produces long-term, highly visible festival properties in unique destinations around the globe. Since its inception in 1960, Festival Productions, now a division of The Festival Network, has maintained a tradition of working with hundreds of leading brands and international locations.

Photo: http://www.newscom.com/cgi-bin/prnh/20070125/NYTH059LOGO
PRN Photo Desk, photodesk@prnewswire.com
Source: Festival Network

CONTACT: Karen Horton, +1-973-378-8327, khorton@festivalnetwork.com; or
Andrea Axelrod, +1-212-865-3492, aaxel@festivalnetwork.com, both for The
Festival Network

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