XFMedia Hires Sports Broadcast Expert to Spur Expansion Plans into Sports
June 25 2008 - 8:15AM
PR Newswire (US)
BEIJING, June 25 /Xinhua-PRNewswire-FirstCall/ -- XFMedia
(NASDAQ:XFML), a leading media group in China, announced today that
it has hired Mr. Richard Young, an executive with broad experience
in sports television rights, to assist the Company as it expands
further its sports content focused broadcast assets. Photo link:
http://www.xinhuafinancemedia.com/RichardYoung/ Mr. Young holds the
new title of Managing Director of the Xinhua Sports Division,
leveraging XFMedia's unique position and resources in China to
build sports content for its broadcast, print and production
assets. Xinhua Sports intends to provide an integrated marketing
solution for advertisers focusing on China's growing number of
sports viewers while offering access into China's market for the
international sports leagues. "As interest in sports grows in China
so does the need for a sports broadcast operation with numerous
ways to reach sports fans, as ESPN has in the US," said XFMedia CEO
Ms Fredy Bush. "The international sports leagues want access to
China's TV audience, and distribution is hard to get, especially
nationwide. I believe Richard will play a significant role in
helping XFMedia to expand its activities in this area." In
February, XFMedia arranged for the NFL's Superbowl to be broadcast
in China through the national satellite television channel NMTV,
the only nationwide broadcaster to carry the game live. Ms Bush
said XFMedia is planning to add to its assets in the broadcasting
area. "In terms of expansion, we will focus particularly on sports
and finance broadcasting. Television is one of our larger margin
businesses and the opportunities are significant. According to CTR
Market Research, the estimated total advertising revenue of four
major nationwide and provincial sports channels in China from
January to May 2008 is around RMB 8.2 billion (i.e. approximately
US$1.2 billion) with 59% year-over-year growth," she said. "XFMedia
has the assets and resources to create an impressive sports
offering to the growing number of sports fans in China," said Mr
Young. "This 360 degree approach creates an integrated solution for
advertisers to reach their target and for major sports rights
holders to reach viewers in China." Prior to joining XFMedia, Mr.
Young founded and managed a company providing television consulting
services in production, distribution and media rights in China for
sports leagues, broadcasters and other clients. Previously, he
worked with ESPN STAR Sports in Singapore, a joint venture between
ESPN and Star TV, where he held a number of senior positions
including Vice-President of Operations and Client Services and
Vice-President of Event Management Group and Program Development.
His experience also includes a number of years working for Sports
International, Entertainment Plus Ltd at a time when it was the
largest professional sports management group in Taiwan. Mr Young
has more than 15 years experience in event management, sales,
acquisition, marketing and integration, with deep experience in
television rights and client service in 15 Asian countries. He
graduated Cum Laude with a dual-bachelor degree in International
Relations and East Asian Studies from Boston University and has an
MBA from University of Chicago. He speaks, reads and writes
Mandarin Chinese. About Xinhua Finance Media Xinhua Finance Media
("XFMedia"; Nasdaq: XFML) is a leading media group in China with
nationwide access to the upwardly mobile demographic. Through its
synergistic business groups, Broadcast, Print and Advertising,
XFMedia offers a total solution empowering clients at every stage
of the media process and connecting them with their target
audience. Its unique platform covers a wide range of media assets,
including television, radio, newspaper, magazine, outdoor, online
and other media assets. Headquartered in Beijing, the company has
offices and affiliates in major cities of China including Beijing,
Shanghai, Guangzhou, Shenzhen and Hong Kong. For more information,
please visit http://www.xfmedia.cn/ . Safe Harbor Statement This
announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "will,"
"expects," "anticipates," "future," "intends," "plans," "believes,"
"estimates," 'confident' and similar statements. Among other
things, quotations from management in this announcement contain
forward-looking statements. Statements that are not historical
facts, including statements about XFMedia's beliefs and
expectations are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties that could
cause actual results to differ materially from those contained in
any forward-looking statements. Potential risks and uncertainties
include, but are not limited to, risks outlined in XFMedia's
filings with the U.S. Securities and Exchange Commission, including
its registration statement on Form F-1. All information provided in
this press release is as of the date hereof, and XFMedia undertakes
no duty to update such information, except as required under
applicable law. For more information, please contact: Media Contact
Joy Tsang Tel: +86-21-6113-5999 Email: IR Contact Jennifer Chan
Lyman Tel: +86-21-6113-5960 Email: DATASOURCE: Xinhua Finance Media
CONTACT: Media Contact - Joy Tsang, +86-21-6113-5999, or ; IR
Contact - Jennifer Chan Lyman, +86-21-6113-5960, or Web Site:
http://www.xfmedia.cn/
http://www.xinhuafinancemedia.com/RichardYoung/
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