VAN NUYS, Calif., Jan. 22, 2007 (PRIME NEWSWIRE) -- NuTech Digital, Inc. (OTCBB:NTDL), a worldwide leader in the production and distribution of original and licensed DVD content, today announced that the Company has entered into a Joint Venture agreement with Coalition Media Group, a powerhouse Beverly Hills based entertainment company that specializes in talent management, television production, film production, and urban based content.
Under the terms of the Joint Venture, Coalition Media Group (CMG), which currently undertakes projects in television and theatrical production as well as home video, ring tones and other forms of electronic media, will operate as a wholly owned subsidiary of NuTech Digital. Mr. Troy Carter, current Chairman of CMG, will become the Chief Executive Officer of this new company and will develop programming for strong marketing and media distribution channels along with NuTech.
Mr. Carter launched CMG in 2005 and has worked with world renowned recording artists such as Fat Joe, Nelly, Mario, Kelis and Patti Labelle. His successful career in entertainment management began in 1999 when he returned to his hometown of Philadelphia to start Erving Wonder Entertainment, where he discovered Rap and Hip Hop stars Eve and Beanie Siegel. In 2003, Erving Wonder was acquired by Sanctuary Group UK where Carter served as Director and Executive Vice President. As part of the agreement, Mr. Carter will join NuTech Digital's Board of Directors. Lee Kasper will continue to serve as Chief Executive Officer of the Company.
"I am really looking forward to partnering with Lee and NuTech Digital and utilizing their vast experience in distribution to launch our new urban media division. With my experience in talent management and production combined with NuTech's media library and distribution channels, there is no limit to the success that we can experience together," commented Troy Carter.
Lee Kasper, Director and CEO of NuTech Digital, commented, "We are very excited to partner with CMG, who we believe to be the ideal strategic partner to help us utilize our media distribution channels worldwide. Mr. Carter, who will head this new division of our Company, has a proven track record in urban entertainment. He is clearly one of the best in his field, having cultivated some of the most successful careers in music."
"I am confident that Troy's trailblazing attitude and unique approach will bring great success to this joint venture, which is the most aggressive and strategic deal that we have been involved in thus far. This truly marks a turning point for NuTech Digital that will bring incredible success as we create synergies within our businesses and embark on new and exciting forms of electronic media distribution," added Mr. Kasper.
About NuTech Digital
NuTech Digital is a diversified media and entertainment company that offers original and licensed content via a worldwide network of distributors, retailers and Internet entities, including Warner Music Group and CinemaNow. NuTech Digital also facilitates authoring services to content providers in the entertainment industry. NuTech's DRM platform allows its feature films and concerts to be accessed via secure downloads and included in online subscription services.
Safe Harbor Statement
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