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Made in America Entertainment Signs a Letter of Intent to Acquire Top Sail Productions as Its First Order of Business for the Newly Structured Company
ORLANDO, Fla.-(Business Wire)-September 4, 2008 - Made in America Entertainment, Inc. (OTCBB:MAEI) announced today that as its first order of business for its newly structured company it has signed a letter of intent with California based Top Sail Productions, LLC to acquire its entire inventory, library and distribution rights through Warner Bros. (WEA) of “Radio Icon†CASEY KASEM’S America’s Top Ten Hits from the 50’s, 60’s, 70’s, 80’s, 90’s and All Time Christmas Favorites that are licensed by Top Sail Productions, including: Elvis Presley’s “Blue Christmasâ€, Bing Crosby’s “Santa Claus is Comin’ To Town, Perry Como’s “White Christmas, Gene Autry’s “Rudolph The Red Nose Reindeer, Jose Feliciano’s “Feliz Navidadâ€, Brenda Lee’s “Rockin’ Around The Christmas Tree†and many more. Casey Kasem Presents All-Time Christmas Favorites is the first CD to reach the 200,000 unit mark. This 2-CD set carries a $19.98 list price and contains 30 Christmas favorites by name artists. It has been a consistent seller, with nearly 70,000 units in sales in its first year, and 35,000 - 50,000 units per year since its release in 2004.
Since inception, the series has generated gross sales of $21 million dollars. Annual sales have ranged from $2 million - $4 million each year since the launch of the company with a minimal return percentage. Eighteen of the 23 titles have sold in excess of 50,000 units, with six of the titles selling in excess of 100,000 units, and two of the titles selling in excess of 200,000 units. All of these titles continue to generate reorders.
About Top Sail:
Top Sail is distributed by Warner Bros. (WEA) into 10 Big Box stores including Wal-Mart, K-Mart, Best Buy, Sam’s and others and generates approximately $2 million dollars in annual revenues. Its CEO is Chuck Gullo who has been in the mainstream music business for 35 years including 14 years with A&M Records where he was instrumental in promoting top artists like Janet Jackson, The Police, Amy Grant, Bryan Adams and others. He was also instrumental in guiding Gold and Platinum artists including “Weird†Al Yankovic while he was with All American Music group/Scotti Bros. Records. (go to www.topsailproductions.com)
About Made In America Entertainment:
The newly structured public company now has approximately only 2,000,000 outstanding shares and owns the GINA D’S KIDS CLUB library of 44 award winning DVD titles and approximately 350 recorded songs which are now available on iTunes, Rhapsody, E-Music and other download outlets. (www.madeinamericaentertainment.com)
“What is great about his acquisition is that we will acquire a revenue producing company with two great libraries that will have value for our shareholders and could have a positive effect on our share price: CASEY KASEM’S CD’s and the GINA D’S KIDS CLUB DVD’s and CD’s that can now be sold online through iTunes and through the Warner (WEA) distribution into the big box stores,†stated Joey DiFrancesco CEO of Made In America Entertainment, Inc.
For information about Made In America Entertainment, Inc. go to www.madeinamericaentertainment.com
Safe Harbor Statement
This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company’s products, increased levels of competition, product and technological changes, the company’s dependence upon financing and third-party suppliers, and other risks detailed from time to time in the company’s federal filings, annual reports, offering memorandum, or prospectus. Specifications are subject to change without notice. Made In America Entertainment, Inc. assumes no obligation to update any forward-looking statements.
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