omniture

XFMedia Hires Sports Broadcast Expert to Spur Expansion Plans into Sports

2008-06-25 20:13 3572

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.

Source: Xinhua Finance Media
Related Stocks:
OTC:XSELY
Keywords: Advertising
collection