Media Concepts Inc. today announced a joint venture agreement with AIX Media Group Inc. to design, produce and distribute DVD and Video Cassette programs using the Media Concepts existing library of products on a worldwide basis. The joint venture will allow Media Concepts to utilize parts of its film library without incurring all of the start up costs of production and distribution.
AIX is both a service provider and a content owner through its AIX Ventures division. The company has established co-venture relationships with over 15 video content providers to bring their titles to the new DVD-Video format. AIX participates in a percentage of the net or gross revenue of these titles on a royalty basis in exchange for reduced production costs. To date, co-venture deals have been completed on nearly 100 titles with leading distributors.
Media Concepts Inc. is a diversified entertainment and media technology company that focuses on emerging technologies as they are related to electronic home products and other entertainment products.