SOURCE: NetMusic Entertainment Corporation

February 21, 2006 17:22 ET

NetMusic Names New CEO

SEATTLE, WA -- (MARKET WIRE) -- February 21, 2006 --NetMusic Entertainment Corporation (OTC: NTMT) announced today that CEO Glen Starchman has resigned to pursue other opportunities, and has been replaced as CEO by Perry Leopold. Mr. Leopold was the former founder of The PAN Network and several other enterprises.

As part of the terms of his employment, Mr. Leopold has agreed to re-acquire The PAN Network, which was originally acquired from him by NetMusic in April 2005. Mr. Leopold will also serve as Chairman of the Board.

Additionally, the company named Jeff Falus to serve on the board of directors.

According to Mr. Leopold, "I look forward to the commitment to restructure and reinvigorate NetMusic, and to take full advantage of all the worldwide opportunities available to the company, both now and in the future."

About NetMusic:

NetMusic Entertainment Corporation is a global digital media company focused on digital media sales and distribution opportunities in both audio and audiovisual spaces, and has been serving the entertainment industry since its inception in 1995.

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although NetMusic Entertainment Corporation believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by NetMusic Entertainment Corporation or any other person that the objective and plans of NetMusic Entertainment Corporation will be achieved.

Contact Information

  • Contact:
    NetMusic Entertainment Corporation
    Perry Leopold
    (215) 661-1100 -- phone
    (215) 661-8959 -- fax
    ir@netmusic.com