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Ice Man's Back
02/11/1998 3:00 AM, Yahoo! Music
Bruce Haring
(2/11/98) - Charles Koppelman, the former EMI Records Group North America head who brought the world Vanilla Ice, Wilson Phillips and Tracy Chapman, has formally announced his next venture. CAK Entertainment and Prudential Securities Inc. have formed CAK Universal Credit Corp., a company created specifically to engage in entertainment and intellectual property securities on a worldwide basis. The joint venture will provide loans secured by income streams from intellectual properties such as music, software, books and films, deals similar to those recently signed by Rod Stewart and David Bowie. After loans are made to the works' owners, CAK UCC expects to warehouse and then make securities out of the loans, which Prudential will sell. Mr. Koppelman? Vanilla Ice on line one...
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