MediaConcepts, Inc. (OTC BB: MDCE), announced Definition, LTD, a Texas based company has executed a mutual letter of intent with MediaConcepts, Inc. to engage in an asset acquisition. By the terms of the letter of Intent, MediaConcepts, Inc. will sell its assets consisting of Media Classics Inc. and its film library, The Taylor Caldwell Works, Mindware, with its educational programs, and its film and productions, in exchange for 100% stock of Definition, LTD. The letter of intent binds the parties to negotiate a final Agreement for the exchange of assets, to be entered into by both parties.

MediaConcepts, Inc. is a film production company, with an extensive film footage library, and has the rights to the Taylor Caldwell works for both the theatrical and re-publishing. MediaConcepts, Inc., through its subsidiary, Mindware, Inc., also does content conversion for educational materials for home study.

Definition, LTD manages WINQ-TV in West Palm Beach, Florida, and develops infomercials, sells television advertising time, does internet business and commerce, and prepares, edits, and sells their large library of film footage, and distributes Video Streaming through XING Technologies. Both companies feel the merger will greatly enhance the potential of the two separate companies, and provide a much better financial position for the combined shareholders.