Warner Home Video And Roadshow Entertainment Announce New Joint Venture

(March 1, 2000 - Sydney, Australia) – Entertainment industry companies Warner Home Video and Roadshow Entertainment have created a new video sales company under the name of Warner Roadshow Home Entertainment Pty Ltd, it was announced today by Warren Lieberfarb, President, Warner Home Video and Graham Burke, Group Managing Director of Village Roadshow. “Australia continues as one of the strongest rental video territories per capita in the world and retail sales continue to grow,” said Graham Burke. “The partnership will benefit the DVD and video markets by sharing the administration costs of supporting a sales force and enjoying the efficiencies gained from a central distribution point. We are obviously thrilled to be part of this initiative which will see a more efficient service for DVD and video distribution to the rental and retail markets,” he added. “Warner Roadshow Home Entertainment is a new strategic alliance and a continuance of the multi-national, multi-divisional partnership between Time-Warner and Village Roadshow,” said Mr. Lieberfarb. “The expansion of this relationship into video shows our commitment to this partnership and to the growing future of home entertainment.” This move was made as a result of both companies’ dedication towards the current and future presence in the video rental and sell-through markets and a commitment to growing the business, particularly the exciting new DVD format. The new company will grow the sell-through DVD and video business and offer better retail customer service. A national rental and sell-through sales force will be supported by a telemarketing group and customer service center in Sydney. Marketing of product will continue to be handled individually by Warner Home Video and Roadshow Home Entertainment. The Warner Home Video system of managing mass-market accounts through offering such retail direct services as vendor-managed inventory, product customization and category management will now apply to both Warner Home Video and Roadshow Entertainment products. The new joint venture will be co-chaired by Roadshow Entertainment’s Managing Director, Chris Chard and Warner Home Video’s Managing Director, Marc Gareton. “We are extremely confident that Chris’ and Marc’s complementary skills, business maturity and key values of creativity, integrity and respect will drive Warner Roadshow Home Entertainment to success,” said Mr Burke and Mr Lieberfarb. With operations in 78 international territories – more than the video division of any other studio -- Warner Home Video commands the largest distribution infrastructure in the global video marketplace. Warner Bros. Pictures' film library is the largest of any studio, offering top quality new and vintage titles. Village Roadshow is one of the few fully integrated, international entertainment and leisure groups in the world, operating divisions in Cinema Exhibition, Film Distribution, Film Production, Theme Parks and Radio. # # #