LAS VEGAS--(BUSINESS WIRE)--Cybermesh (OTCBB: CYTL) announced today that it has come to an agreement in principle with Ties That Bind on a joint venture.
Cybermesh International firmly believes the joint venture will put the company in a position to significantly impact the online entertainment sector. Ties That Bind Corp is headed by seasoned entertainment executive Russell Rieger. Ties That Bind incorporates proprietary technologies that for the first time create a business model that will monetize illegal file sharing that has decimated the entertainment business. The joint venture will initially focus on the music sector, followed by strategic moves into movies, TV and print.
Prior to founding Ties That Bind, Russell Rieger was a Grammy nominated record executive and entrepreneur with over 25 years of experience in the music industry. He has expertise in managing growth through internal development, strategic partnerships and acquisitions. As both General Manager and Executive Vice President for Maverick Records and London Records, he was responsible for driving revenue, overseeing marketing, artist development, international artists and repertoire. Rieger then moved into brand entertainment when he founded Pipeline, an entertainment-marketing firm maximizing all forms of new media platforms. Later, he became an executive at the new media company SpiralFrog, focusing on business development, strategic initiatives and expanding its business model. In his spare time, Russell is an adjunct professor at NYU’s Clive Davis School of Music, teaching new media.
For years, superstar artists like Jon Bon Jovi, the major record labels and the RIAA have all lambasted the demise of their industry because of the proliferation of online piracy. Until now all previous efforts have failed to curtail consumers from obtaining content for free. Cybermesh and Ties That Bind’s joint offer is a new unique approach that will help artists and content owners monetize the P2P consumers and create a deeper relationship with their most passionate fans.
About Cybermesh International
Cybermesh International is a technology-based company focusing on developing technologies in video streaming, telecommunications, media distribution and the analysis sector.
Forward-looking Statements
This press release contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and may include statements regarding the joint venture, future financial performance and results of operations. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release. Additional information concerning risks and uncertainties that may cause actual results to differ materially from those projected or suggested in the forward-looking statements may be found in Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K filed with the U.S. Securities and Exchange Commission.