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Press release: GMN Acquires Commercial Exploitation Rights to 3 Tenors IP Portfolio
New York, December 14, 2000: Global Music Network (www.gmn.com), the leading Internet destination for jazz, opera, classical music, and the live arts, today announced its acquisition of exclusive rights to the intellectual property portfolio of the 3 TENORS, the world famous trio consisting of Jose Carreras, Placido Domingo and Luciano Pavarotti.
The agreement was signed with TTL Limited, a company created to represent and control the trio's intellectual property. Although not all of the terms of the agreement have been made public, the agreement covers the 3 Tenors' trademarks, endorsements, musical archives, and Internet rights. GMN will set up a full-time activity to exploit this portfolio on behalf of TTL, utilizing the more than 75 Internet affiliations GMN has garnered, including various entertainment outlets, festivals and venues worldwide.
Over the initial five-year term, GMN expects to realize significant revenues from this agreement. To date, the 3 Tenors as a group have not endorsed any products or services. GMN also intends to release materials from the musical archives. Late in 1999, Placido Domingo joined the Board of GMN.com and became a family artist. The 3 Tenors, as a group, will now become family members and GMN will create a comprehensive website for the trio. GMN has been enhancing its Internet activities to include off-line components as well.
Commenting on the agreement, Michael L. Lubin, Chairman, Co-Founder, and CEO of GMN said, "We feel honored to be associated with this trio of consummate musicians who have earned standing both among their fellow musicians and the global public. They have probably stimulated more interest in opera and classical music than any other individual or group I can think of. Each of them has shown the public over the years their commitment to the highest artistic standards. Collectively, over the past decade they have brought joy to millions around the world and have achieved a well deserved recognition factor second to none."
Paul Egerton Vernon, of TTL Limited, said, "GMN.com has been the pioneer on the Internet in legitimizing the interests of artists, publishers, and others with respect to rights. They have also pioneered in the dissemination of quality music via this new medium. We believe that they will represent the interests of the 3 Tenors in a manner consistent with the achievements and values of the group in the past."
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