Coral Gables, FL–(HISPANIC PR WIRE – BUSINESS WIRE)–February 4, 2005–Venevision International and FonoLibro, a producer and distributor of audio-books, signed an agreement under which the distributing company of the Cisneros Group will become FonoLibro’s majority shareholder, with the purpose of developing the market in the United States, Latin America and Europe for this category of products.
Audio-books enable consumers to “read listening” bestsellers and literature classics on CDs through the voices of first-rate readers and actors with scripts that “dramatize” the books with music and sound effects. The CD’s format allows it to be listened in various settings like in the car, in CD and MP3 portable players and other ways that accompany the listener as he or she does other activities. Also this format allows for the expansion of the product to non-traditional channels like mass merchandisers and video-sound stores.
Luis Villanueva, President of Venevision International, expressed his satisfaction with this agreement as another step in the direction that the entertainment company has taken. Audio-books, he added, expand the distribution that we have developed through records and home video, since the products share the same channels. Additionally, this type of product, with the best quality, benefits from our commercial muscle, which has the capability to present it to the consumer.
Arquimedes Rivero, son of the well-known soap opera producer and founder of FonoLibro, stated his satisfaction by adding, “This union with Venevision International and the Cisneros Group maximizes leverage to a good business idea that is also educational. It is a way to put in the hands of the public literature and information that many times is hard to get through the traditional paper media. Thanks to the advantages of mass marketing, the audio-books will start to establish a stronger presence and the public will notice the quality we give to each product.” He concluded by adding, “With this company we will have the capacity to develop a medium that has the characteristics to fit with the new Internet technology and mobile content transmission.”
FonoLibro’s catalogue has classics like “The Count of Montecristo”, “La Esclava Isaura”, “La Dama de Las Camelias” and “Les Miserables” and bestsellers such as “El Caballo de Troya 1” by the acclaimed novelist J.J. Benitez. Soon to come on FonoLibro’s bestsellers list: “Un Mensaje de Garcia,” by Charles Patrick Garcia; and the international bestseller, “How to Make Love All Night,” by Barbara Keesling. Arquimedes Rivero said that the company is under an acquisition and production strategy of titles that guarantee a constant flow of new products into the market.
Venevision International is an entertainment company part of the Cisneros Group, with more than 30 years in the market and its projects are inserted in the business development strategy designed by Gustavo Cisneros, President of the Board of Directors of the Cisneros Group of Companies. Venevision International distributes television programs throughout the world and is one of the largest producers of independent television programs in Spanish. The company also distributes films in Spanish for theater, pay-per-view, home video, paid and open television in the United States, where it also does business with its own record Label Vene Music. The company also produces theater in Spanish in its own theater house in Miami and is a pioneer in the area of “advertainment” (product integration) through Synapsis International.
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CONTACT:
Venevision International, Coral Gables.
Jose Antonio Espinal or Arquimedes Rivero
305-442-3411
