Hurray! News
Hurray! Retains Copyright of “Mice
Love Rice” by Court Ruling
BEIJING, August 31/Xinhua-PRNewswire/ -- Hurray! Holding Co., Ltd.
(Nasdaq: HRAY - News), a leader in wireless music distribution and
other wireless value-added services, artist development and music
production, and wireless value-added services management software
in China, announced today its controlled record company Hurray!
Freeland has signed a copyright assignment contract to become the
official right owner of “Mice Love Rice” under PRC copyright law.
Freeland Group released “Mice Love Rice” in October, 2004 and it
became a number one hit in China in 2005. Freeland Group was subsequently
involved in a litigation challenging its copyright ownership. The
legal dispute was finally resolved in July, 2006 in Freeland’s favor
after a series of court proceedings. Due to the ongoing litigation,
copyright of “Mice Love Rice” was not assigned to Hurray! Freeland
from Freeland Group when the music joint venture was first established
at the end of 2005.
First released on Internet, “Mice Love Rice” became an instant
hit within the online community before its popularity quickly spread
to traditional media. At peak, the song recorded 6 million ringbacktone
downloads in one month, generating revenues equivalent to the sales
of 700,000 CDs. The song was not only number one hit in ringtone,
ringbacktone and truetone downloads over mobile phones and Internet
in China, but also made to Top 10 World list of Apple Computer’s
iTunes services in 2005.
About Hurray! Holding Co., Ltd.
Hurray! is a leading provider of music and music-related products
such as ringtones, ringbacktones, and truetones to mobile users
in China through SMS, IVR, RBT, WAP, MMS and Java wireless value-added
services platforms over mobile networks and through the Internet.
The company also provides a wide range of other wireless value-added
services to mobile users in China, including games, pictures and
animation, community, and other media and entertainment services.
In addition, Hurray! is a leader in artist development, music production
and offline and online distribution in China through its majority
controlled record labels Huayi Brothers Music and Hurray! Freeland
Music.
Hurray! also designs, develops, sells and supports a service provisioning
and management software for mobile operators in China to manage
wireless value-added services.
Forward-looking Statements:
This press release contains statements of a forward-looking nature.
These statements are made under the “safe harbor” provisions of
the U.S. Private Securities Litigation Reform Act of 1995. You can
identify these forward-looking statements by terminology such as
“will”, “expects”, “believes” and similar statements. The accuracy
of these statements may be impacted by a number of business risks
and uncertainties that could cause actual results to differ materially
from those projected or anticipated, including risks related to:
the risk that Hurray! may not be able to develop services incorporating
the songs of its content partners which are timely and attractive
to China’s mobile phone users; uncertainty regarding the future
level of consumer demand for wireless music services in China; the
possibility that the song “Mice Love Rice” will not be as popular
among China’s mobile phone users as management expects; any risk
that the copyrights of “Mice Love Rice” will cause; the risk that
Hurray! cannot maintain the copyright assignment contract with the
copyright-related right owner of “Mice Love Rice”; the continued
competitive pressures in China’s wireless value-added services market;
changes in technology and consumer demand in this market; the state
of Hurray!’s relationships with China’s mobile operators; and other
risks outlined in Hurray!’s filings with the Securities and Exchange
Commission, including its registration statement on Form F-1, as
amended. Hurray! does not undertake any obligation to update this
forward-looking information, except as required under applicable
law.
For more information, please contact:
Phoebe Meng
Investor Relations Manager
Tel: 8610-84555532
yfmeng@hurray.com.cn
SOURCE: Hurray! Holding Co., Ltd.
|
