Yahoo! online fest finds Paradise Digital

Company to produce Netcast

The new digital content subsidiary of Paradise Music & Entertainment will act as the exclusive producer for the Netcast of the Yahoo! Internet Life Online Film Festival.

The event will mark the bow of Paradise Digital Prods., according to president Matt Rader.

“I want it to be like our christening, a showcase of us,” Rader said. “Every single cameraman will be a PDP cameraman, and when people watch it on Yahoo! they’ll see what we can do.”

The film festival will be held next March 22-23, and the cybercast will occur on Yahoo! Broadcast on March 26.

“They are a natural choice because PDP shares our vision and excitement in presenting an event highlighting the fast-growing use of the Internet as a state of the art medium for distributing digital filmed entertainment,” said Jesse Jacobs, director of the fest.

Participants scheduled to take part in the event include AtomFilms, iFilm, Pop.com, CinemaNow and Shockwave.

“Long term, we want to do a lot of Internet production,” said Jesse Dylan, chairman-CEO of Paradise Music & Entertainment. “And when these Internet companies at the festival hit the road, that is where we want to work.”

This past week, Paradise also received $3 million in private equity financing from BayStar Capital and Bay Star Intl.

Paradise closed trading on the Nasdaq at $2.50 per share Tuesday.

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