MySpace Caters To Majors, Not Indies

"KOCH Records, as the #1 Independent label in the U.S. for the last 7years, was disappointed to see MySpace's 'smoke and mirrors' announcementregarding its new music service. Essentially it has announced a deal withthe majors and has in effect become MajorSpace.

"It is unconscionable that it would give equity positions to the majors andtreat the independent community as second class citizens after having builtits service on our backs, as its CEO has acknowledged. It makes no sense atall the that the Majors will benefit from the utilization of ourcontent without our participation as well. To be clear, our issue is notwith the Majors having equity but with MySpace believing that we wouldaccept this without similar terms. MySpace continually states that it isembracing the independents. It's a pretty listless and cold embrace."

About KOCH Entertainment

KOCH Entertainment, founded in 1987 and now in its twenty-second year, isthe leading and fastest-growing independent music company in the U.S.KOCH's operations encompass record and video labels, music publishing aswell as distribution companies in the U.S. and Canada. KOCH Entertainmentis the market leader among independent labels and distributors in both theU.S. and Canada. Its record label KOCH Records is the # 1 independentlabel in the U.S. and had the largest number of Billboard charting albumsamong independents for seven years in a row (2001 - 2007). KOCHEntertainment is a subsidiary of Entertainment One Ltd. which is listed onthe London Stock Exchange's AIM market (ticker symbol "ETO"