MCY, the next generation media company, today announced its acquisition of a majority interest in Pyramid Music Corporation, a music venture recently formed with Allen Jacobi to develop and exploit cross-media music products from legendary recording artists.
Pyramid Music will focus on signing top established artists to create exclusive music products for distribution across all new and established international media channels, including CD, DVD, broadband (Internet, wireless, satellite, cable), and television. Pyramid will distribute its record releases through EMI music distribution.
Mr. Jacobi brings extensive experience releasing and marketing established recording stars such as The Doobie Brothers, The Band, Earth, Wind and Fire, Joe Walsh, Robert Palmer and many others.
MCY CEO Bernhard Fritsch said, “Pyramid Music is the model for the future of the music industry. Allen and his team are a welcome addition to MCY’s growing family of next-generation music companies.”
Mr. Jacobi, who oversees Pyramid’s daily operations as its president, commented, “Our artists asked for access to the new world of multi-media opportunities. With MCY, we are now able to bring them a complete array of traditional, alternative and digital media revenue streams
including many that have never before been exploited.”