SOURCE: Entertainment Capital Corporation

August 02, 2006 13:36 ET

Entertainment Capital Corporation Issues July/August Newsletter With Recap of Recent Events

LOS ANGELES, CA -- (MARKET WIRE) -- August 2, 2006 --Entertainment Capital Corporation (ECC), whose focus is to invest in companies engaged in various aspects of the entertainment industry, today released the July/August edition of its monthly investor newsletter, which is available to view and download at http://www.entertainmentcapitalcorp.net/media.asp?id=newsletters.

Recent news events that are covered in the July/August newsletter include portfolio company Roma Music Group's completion of the music for two films in the library of FilmMates Entertainment, Inc. Roma Music Group has completed a music score for the film "Rent Control," also known as "Aunt Agatha's Apartment," and new original songs have been selected for the release of the film "Living Life." FilmMates Entertainment is another of Entertainment Capital Corporation's portfolio companies and focuses on motion production and distribution for theatrical, television, home entertainment and portable digital markets. In January 2006, FilmMates Entertainment entered into a multi-year home video distribution agreement with Vivendi Visual Entertainment (VVE), a division of Universal Music Group Distribution (UMGD).

During the period covered by the newsletter, FilmMates Entertainment secured distribution of several of its film properties in additional international markets. Rights to broadcast "Living Life" were recently sold to Home Box Office (HBO) Central Europe, and Blitz Film and Video Distribution in Croatia has picked up "Rent Control" (a.k.a. "Aunt Agatha's Apartment") for distribution in the former Yugoslavian countries. Both titles are also scheduled for home video/DVD release in the 4th calendar quarter 2006 by Vivendi Visual Entertainment.

Also included in the July/August newsletter is the announcement of FilmMates Entertainment's four-year exclusive agreement with Fintage House that is designed to maximize the royalty revenues derived from the properties distributed by FilmMates Entertainment. Fintage House, a leader in the field of providing financial solutions to the rights holders and creators in the global entertainment industry, will focus on the collection royalties from the film, television and other projects that FilmMates Entertainment distributes internationally.

"Each of the events reviewed in the July/August 2006 newsletter are significant to both the near term prospects and long-term value of the Entertainment Capital Corporation fund," stated John Bailey, chief executive officer of Entertainment Capital Corporation. "Fintage House is expected to play an important role in protecting copyrights and image rights for properties distributed by FilmMates Entertainment, which is especially critical as the company expands in a greater number of global markets. The first tangible results from Roma Music Group is also excellent news as we diversify the activities of the ECC portfolio beyond film and into the music industry as well."

"We hope shareholders are pleased with the recent progress of the ECC portfolio companies and will continue to monitor our progress as we work to build value in the ECC fund," added Mr. Bailey.

To sign up to receive information by email directly from Entertainment Capital Corporation when new press releases, investor newsletters, SEC filings or other information is disclosed, please visit www.entertainmentcapitalcorp.net/investor.asp?id=email.

About Entertainment Capital Corporation

Entertainment Capital Corporation (www.entertainmentcapitalcorp.net), a business development company pursuant to the Investment Company Act of 1940, was formed to build a portfolio of investments in the entertainment industry, including companies engaged in movies, music, home video, television and related projects. FilmMates Entertainment, Inc. is a global motion picture production and distribution company that produces content for theatrical, television, home entertainment and portable digital markets. In addition to portfolio company FilmMates Entertainment, Inc., Entertainment Capital Corporation has acquired a 100% interest in Roma Music Group, Inc., a privately held Nevada corporation, which is comprised of two divisions, a music publishing arm that owns and administrates copyrights to music for film properties and a record label that produces and distributes soundtracks and new recording artists.

Contact Information

  • Contact:

    Gemini Financial Communications for Entertainment Capital Corporation
    A. Beyer
    951-587-8072
    Email Contact