VALLEY TO FORM NEW INTERNET COMPANY

WOODLAND, Calif. -- Video and music distributor Valley Media here this month reached an agreement in principle to form a new company to take greater advantage of digital distribution opportunities.Woodland. The existing shareholder group of amplified.com and Valley would each own 50% of the outstanding shares of the new company. Valley would provide continuous service to its Internet customers and

WOODLAND, Calif. -- Video and music distributor Valley Media here this month reached an agreement in principle to form a new company to take greater advantage of digital distribution opportunities.

Woodland. The existing shareholder group of amplified.com and Valley would each own 50% of the outstanding shares of the new company. Valley would provide continuous service to its Internet customers and serve as the fulfillment partner for amplified.com.

"With this combination, Val

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