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FOR IMMEDIATE RELEASE
SAN DIEGO, April 28, 1999 -- MusicMatch, Inc., makers of the world's number-one selling MP3 software program, and Thomson Multimedia, co-developer of the MP3 digital compression format and worldwide manufacturer and marketer of RCA and THOMSON brand consumer electronics products, today announced they will form a strategic alliance to further develop the MP3 standard for digital music. Upon closing, Thomson will have a 20 percent equity share in MusicMatch. MusicMatch and Thomson will begin working immediately to develop complete MP3 audio software applications that let consumers take more control of how they find, purchase and listen to music. In response to overwhelming industry demand for all-inclusive MP3 audio management programs, both companies will also work together to develop new customized software solutions for a broad array of original equipment manufacturers including companies that market portable digital audio devices. MusicMatch and Thomson are also actively participating with the Secure Digital Music Initiative (SDMI) Forum to develop secure solutions that enhance the MP3 standard for downloadable music and meet the quality and security demands of the music industry. "Our investment in MusicMatch is a critical part of an overall digital music strategy for Thomson. MusicMatch has done a good job of consistently delivering feature-rich audio management solutions to millions of MP3 music listeners around the world and we are confident this alliance between our companies will help maintain the acceptance of MP3 as a popular standard for digital music," said Al Arras, executive vice president, Thomson Audio & Communications SBU. "We also see this alliance helping us to develop new and exciting RCA and THOMSON digital audio products. MusicMatch and Thomson believe the needs of music consumers and the music industry will be best served by building on the digital music momentum and by extending the MP3 standard to meet the needs of both groups." Thomson, a recognized global consumer electronics leader and developer of core digital audio technologies, co-developed the MP3 compression format with the Fraunhofer Institute and acts as the licensing administrator for Thomson and Fraunhofer MP3 intellectual property. Combining Thomson's MP3 technology prowess with MusicMatch's innovative application software and unique understanding of MP3 music listeners gives this new alliance a high level of expertise in the digital audio arena . "Through our alliance with Thomson, MusicMatch will be able to deliver MP3 application software that lets people take more control of their music than has ever been possible before," said Dennis Mudd, co-founder and CEO of MusicMatch, Inc. "Expect to see breakthroughs in sound quality and music management capabilities, and a greater ability for people to find and purchase digital music that matches their tastes." About MusicMatch Jukebox MusicMatch Jukebox is the first completely integrated MP3 music management software program that lets users build extensive collections of CD-quality digital music downloaded from the Internet and recorded from music CDs. MusicMatch Jukebox lets users organize all of their tracks in a digital music database on their PC, create custom play lists and play them on their PC in CD-quality. MusicMatch Jukebox is one of the world's most popular audio software programs, downloaded by close to one million people each month. MusicMatch Jukebox is currently being bundled with the Diamond Rio and Creative NOMAD portable MP3 players. About Thomson Multimedia Thomson Multimedia ranks 1st in the U.S. and 4th in Europe in sales of consumer electronics products. With its flagship RCA and THOMSON brand names, Thomson manufactures and markets color TV sets, VCRs, digital satellite decoders, home audio products and systems, DVD players, camcorders, telephones and a myriad of accessories. Thomson also markets under the popular GE, PROSCAN, TELEFUNKEN and SABA brands in Europe, Asia and in the Americas. Thomson Multimedia is the world's largest supplier of large and very large color TV picture tubes and is actively developing new digital entertainment products that will allow consumers to interact with new media through the Internet and other digital systems. About MusicMatch, Inc. MusicMatch, Inc. develops digital audio software that lets people take control over how they listen to their music. The company's popular "MusicMatch Jukebox" software turns a PC into a powerful component of a user's stereo system, and is the world's number-one selling MP3 software program. The MusicMatch web site (www.musicmatch.com) is one of the world's 50 most popular music web sites, and contains one of the finest collections of downloadable music from independent artists on the Internet. The company has 32 employees and sales approaching $1 million per month. MusicMatch was incorporated in February, 1997, and is headquartered in San Diego, CA. |