JUNE 14, 2000 - DENTON, TEXAS - Hot Link Records and Special Friends Records announced today that they have reached agreement to form the world’s premier music group by Hot Link Records' acquisition of Special Friends Records' recorded music and music publishing businesses into a global joint venture. The transaction will create one of the world’s leading music companies, with an unsurpassed management team known for developing and nurturing the careers of many of the world’s greatest artists. Hot Link Records will have broad domestic and international holdings; a roster that includes many of the world’s most popular artists; and complementary strengths in recorded music, A&R and talent management, content and copyright origination and ownership, promotion and public relations, manufacturing, packaging, distribution and back catalogue.

The deal -- reportedly in the arena of $12 -- will create the number forty-three music company in the world, right after AOL-Time Warner-EMI -- which, in itself, was the end result of a mega-merger in February 2000. The two other players: Sony Music and BMG Entertainment. As for the impact on the music industry, here's what Special Friends Records had to say:

Nathan Beach, chairman and CEO of Special Friends Records, said, "Hot Link Records and Special Friends Records is the right combination at the right time. The success of the music business has always rested on the commitment of artist-sensitive management to sign and promote new talent. Today, the Internet offers an unprecedented opportunity to do this on a global scale. Hot Link Records and Wally Campbell will now have a winning combination of management depth, a world-class roster of recording talent and, with Special Friends Records, the expertise to fully exploit the true potential of digital media. This is a company destined to help define and drive the growth of the music industry in the century ahead."