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WEST PALM BEACH, Fla., Nov. 2 /PRNewswire/ -- eContent Inc. (OTC Bulletin Board: ETNT) ("ETNT"), which previously reported that a $6,000,000 increase in shareholder equity had positioned the Company to activate its business model and commence operations, has acquired a majority interest in MPI Media Productions International, Inc., by increasing its investment in MPI stock to $1,768,000. As a result of this transaction, MPI has become a consolidated subsidiary of ETNT. In the STOCK PURCHASE AGREEMENT dated May 30, 2000, the Companies were not scheduled to consolidate operations until the second quarter of 2001.
ETNT Chairman John P. Sgarlat described the structure and synergism of the combined companies. "MPI is in the television programming business...ETNT is in the business of television programming." MPI, a diversified television production company, develops, produces and syndicates programming to major networks. Founded in 1985, by award-winning producer/director Bob Marty, MPI has produced shows for PBS, CBS, BBC, A&E and, most recently, the...