Backing Brings New Music Download Co to Merseyside

8th November 2005

A specialist music download company has moved to Liverpool with £350,000 cash backing from the new £27m Liverpool Seed Fund and £100,000 from HSBC.

Global Media Distribution has relocated to Merseyside from Nantwich and is now based in the Liverpool Film Studios. The company also has two other offices in New York and Sydney.

The investment will be used to develop a revolutionary new product called SafeSell which will allow record companies to sell music online more profitably and in a protected environment. Until now, many independent record labels have found traditional methods of distribution too expensive. Safesell offers a lower cost alternative with better control of distribution.

The technology behind SafeSell is derived from a company called UK Sounds - which runs www.uksounds.com -a successful subscription based music download service set up 6 years ago.

Darren Gowling, Investment Director of the Liverpool Seed Fund said: "This is an exciting business with global potential in a fast-moving market. We are pleased to have provided the backing which has brought the company to Liverpool."

Global Media Distribution has also been working closely with Liverpool Ventures to develop the technology and secure the funding needed to take it to the next phase of commercialisation.

Brian Pond, Marketing Director of Global Media Distribution said, "The move to Liverpool, support from Liverpool Ventures and the MSIF investment means we can now take Safesell to market. Liverpool's vibrant music scene means we are in the perfect location to develop."

Steve Nesbitt, Chief Executive of Liverpool Ventures said: "We are delighted to be working with Global Media Distribution. The team have a huge range of contacts in the music industry and have developed sophisticated technology which we expect will attract a big demand from artists and labels all over the world."

A turnover of several million pounds is expected over the next three years. Currently nine staff are employed in the business, a number that is expected to quadruple over the same period. Advisors involved in the deal were: corporate financiers, Royce Peeling Green with lawyers Aaron and Partners and Pierson Hinchcliffe acting for MSIF and UK sounds respectively.

Ends

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Pic Shows L-R Bill Hayman, Brian Pond and Ross Walton, all of Global Media Distribution, with Steve Nesbitt of Liverpool Ventures, Darren Gowling of MSIF'S Liverpool Seed Fund and (front) Sue Shacklady of Global Media Distribution

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