LOS ANGELES, June 28, 1999 (PRIMEZONE) -- Outwest Entertainment Inc. (NASDAQ: OUTW) today announced the signing of a letter of intent to acquire the assets of EnterTech Media Group.
Ray Ruff, Chairman and President of Outwest, issued the following statement: "This merger reaffirms our commitment to bringing the highest quality of entertainment and technology services to the global markets while continuing our vertical integration strategy. The potential synergy between the two companies will give us the competitive edge we need in a rapidly changing industry.
EnterTech is an entertainment and technology company specializing in the application of digital technology relative to recording, film and entertainment systems.
Outwest was organized in 1997 under the name Outwest Entertainment Inc. The company produces and distributes music for the company's own label, distributes other artists on other labels, publishes music through two subsidiaries, Rufftor and Honcho, produces and distributes motion picture soundtracks, develops motion picture properties for production and markets memorabilia relating to the entertainment industry. Outwest's operations are headquartered at 648 North Saint Andrews Place, Los Angeles, Ca. 90004.
Statements made in this press release that state the company's or manage ment's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. It is important to note that the company's actual results could differ materially from those projected in such forward-looking statements. Information concerning factors that could cause actual results to differ material from those in the forward-looking statements is contained from time to time in the company's filings with the U.S. Securities and Exchange Commission (SEC). Copies of these filings may be obtained by contacting the company or the SEC.