Sony Music's SW Networks Acquires Equity Interest In ElectricVillage

Posted on July 14, 1998

SW Networks, a Sony Music Entertainment, and ElectricVillage announced a strategic alliance to jointly develop Web-specific services that will offer entertainment product through ElectricVillage's growing network of radio station websites. As part of the new alliance, Sony Music's SW Networks has acquired an equity position in ElectricVillage. In addition, Sony Music will work with ElectricVillage to provide access to celebrities for online chats, interviews, and multimedia Web programming. This content will become an integral part of ElectricVillage's national network of radio station websites.

"In creating SW Networks genre-specific radio-targeted entertainment networks we've developed one of the fastest moving -- and most entertaining -- news services in the industry," said Daniel J. Forth, President and CEO of SW Networks. "In developing products for the Internet we will draw on the news gathering skills and programming strategies that fuel SW's broadcast networks. The combination of ElectricVillage's cutting edge infrastructure with SW's resources will result in the Web's premiere entertainment service."