LIBERTY LIVEWIRE CORPORATION
TO ESTABLISH
DIGITAL ASSET MANAGEMENT
& DISTRIBUTION CENTER
USING
LOCKHEED MARTIN TECHNOLOGY
Santa Monica, California, August 13, 2001
Liberty Livewire Corporation (Nasdaq: LWIRA) and Advanced
Software Resources, Inc., licensee of Lockheed Martin Intelligent
Library System (ILS)™ technology, have agreed to merge their
technology and service expertise to establish the Digital Asset
Management & Distribution Center. The Center, initially to be
located in one of Liberty Livewire's Hollywood facilities, will be
the first end-to-end service center for digital encoding, archiving,
searching, retrieval and distribution of all forms of media for the
film and television industry.
Commenting on the agreement, John H. Donlon, President of Liberty
Livewire's Media Management Division, stated, "We are excited to be
teaming up with the world's most experienced provider of digital
asset management services. As the entertainment industry positions
itself for the proliferation of digital media, we will be able to
offer services that will streamline distribution and create new
revenue opportunities for studios and content owners."
The Digital Asset Management & Distribution Center combines
Liberty Livewire's entertainment industry and digital media
expertise with Lockheed Martin's revolutionary Intelligent Library
System (ILS)™. ILS was built with software and processes perfected
during more than a decade of providing digital imagery storage,
manipulation, and distribution systems worldwide for the U.S.
government. Liberty Livewire will employ the ILS technology through
a co-development and co-marketing arrangement with Advanced Software
Resources, and currently plans to launch the Digital Asset
Management & Distribution Center in November 2001.
The Digital Asset Management & Distribution Center will
provide authorized studio personnel with the ability to search,
retrieve, and repurpose content from massively scalable archives.
The Center will also incorporate services to encode, transcode, and
convert media, as well as protect content integrity. Customers will
be able to preview product on-line and share content at multiple
locations simultaneously through proprietary technology employing
the highest standards of security. With the establishment of the
Center, Liberty Livewire provides the entertainment industry the
first integrated solution for its vital digital asset management
needs.
About Liberty Livewire Corporation
Liberty Livewire provides a wide range of audio and video
post-production, transmission, library services, Internet hosting,
and audio/video distribution services via satellite and fiber to
clients in the feature film, television, and advertising industries.
The company has locations in the major entertainment centers,
including Los Angeles, New York and London. Liberty Livewire is a
majority-owned subsidiary of Liberty Media Corporation (NYSE: LMC.A
and LMC.B), which holds interests in a broad range of video
programming, communications, technology and Internet businesses in
the United States, Europe, South America and Asia.
About Lockheed Martin
Lockheed Martin, a world leader in aerospace and related
technologies, specializes in integrating complex communications and
data processing systems into seamless mission-level solutions. Its
Intelligent Library System (ILS)™ technology has been successfully
used to process, archive and securely distribute thousands of
terabytes of complex data while preserving data integrity
indefinitely. Using proprietary algorithms in a state-of-the-art
system architecture, ILS advances the reliability, sophistication
and scope of digital asset management.
About Advanced Software Resources, Inc.
Advanced Software Resources (ASR) is a long-term partner with
Lockheed Martin in the deployment and operation of the Intelligent
Library System (ILS)™ technology and holds a license to customize
and market the technology for commercial applications.
This press release contains forward-looking statements that are made pursuant to the Safe-Harbor
provisions of the Private Securities Litigation Reform Act of 1995. Words such as "intends,"
"believes" and similar expressions reflecting something other than historical fact are intended
to identify forward-looking statements, but are not the exclusive means of identifying such
statements. These forward-looking statements involve a number of risks and uncertainties,
including the timely development and market acceptance of products and technologies, successful
integration of acquisitions, the ability to secure additional sources of financing, the ability
to reduce operating expenses, and other factors described in the filings of Liberty Livewire
Corporation (the "Company") with the Securities and Exchange Commission. The actual results
that the Company achieves may differ materially from any forward-looking statement due to
such risks and uncertainties. The Company undertakes no obligations to revise or update any
forward-looking statements in order to reflect events or circumstances that may arise after
the date of this release
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