BEIJING, March 23 /PRNewswire-Asia/ -- Xinhua Sports & Entertainment Limited ("XSEL," Nasdaq: XSEL), a leading sports and entertainment media company in China, announced today that its Managing Director, David U. Lee, has been named an inaugural member of The Hollywood Reporter's (THR) Next Generation Asia. Next Generation Asia celebrates the 20 most impressive young men and women in entertainment in Asia -- the executives and talent who THR believes will lead the industry in the very near future. It is based on THR's Next Generation, which was launched 15 years ago in the US and has become a staple in Hollywood. Such prominent men and women as Dreamworks CEO Stacey Snider; CAA agents Bryan Lourd and Richard Lovett; former 20th Century Fox president Hutch Parker; and Ben Silverman, CEO and President of NBC Universal, are all Next Generation alumni, identified by THR at the beginning of their careers.
Photos: (http://www.xsel.com/david_u_lee/ )
David U. Lee partnered with XSEL to launch Xinhua Media Entertainment, as a subsidiary of XSEL, in April of 2008. He oversees the development and operation of the Company's film entertainment business, producing high-profile movies between China and Hollywood. He has been an honorary member of the China Film U.S. Delegation since 2006, and has established an extensive network and strong relationships in the U.S. and Chinese film industries. Prior to joining XSEL, Mr. Lee was Executive Vice President of Asian Operations at The Weinstein Company, where he oversaw the company's business in Asia as well as its $285 million Asian Film Fund. Mr. Lee is a Co-Executive Producer of the 2008 Jackie Chan and Jet Li film, FORBIDDEN KINGDOM, which he helped structure as the most commercially successful China-U.S. co-production to date. He is also a Co-Executive Producer of The Weinstein Company's first Asian Film Fund production, SHANGHAI starring John Cusack, Gong Li, Chow Yun-Fat and Ken Watanabe.
Ms. Fredy Bush, XSEL's Chief Executive Officer said, "Congratulations to David. We are proud to have him in our company; with his experience in the entertainment industry, XSEL's positioning, namely excelling in China through sports and entertainment, is further enhanced."
Eric Mika, Publisher of the Hollywood Reporter and Vice President of the Nielsen Media & Entertainment Group said," I have had the privilege to personally see David in action both in Beijing and in Los Angeles. He understands the business values of both cultures and most importantly he has a high degree of integrity that reflects real leadership. He is a natural Next Gen."
"The Next Generation Asia is a platform to introduce the media and entertainment leaders of tomorrow to the industry communities. This recognition to David is rather than an honor to the company that inspires such talent. The honor again demonstrated our expertise in the field, and further recognized our unique capability to provide high-profile entertainment content to our target audiences," added Ms Bush.
Other members of the inaugural Next Generation Asia include but are not limited to: Francis Kao, Chairman and Chief Creative Officer of Imagi Animation Studios; Tianqiao Chen, Chairman of Shanda Interactive Entertainment; Jason Jiang, Chairman of Focus Media; BoA, pop star from Korea, Tony Jaa, actor/director from Thailand; and Hao Ning, director from China.
Xinhua Media Entertainment recently announced a slate of five films expected to be co-produced with leading producers from China and Hollywood, including, THE CAGE, a US$30 million martial arts action thriller to be
co-produced by China Film Group Corporation, the most dominant film entertainment company in China and Casey Silver Productions (THE FORBIDDEN KINGDOM, HIDALGO, LEATHERHEADS) in June 2009.
About XSEL
Xinhua Sports & Entertainment Limited ("XSEL," Nasdaq: XSEL) is a leading sports and entertainment media company in China. Catering to a vast audience of young and upwardly mobile consumers, XSEL is well-positioned in China with its unique content and access. Through its key international partnerships, XSEL is able to offer its target audience the content they demand -- premium sports and quality entertainment. Through its Chinese partnerships, XSEL is able to deliver this content across a broad range of platforms, including television, the Internet, mobile phones, cinema, university campuses and other multimedia assets in China. Along with its in-house advertising resources, XSEL offers a total solution empowering clients at every stage of the media process linking advertisers with China's young and upwardly mobile demographic.
Headquartered in Beijing, the company employs more than 1,350 people and has offices and affiliates in major cities throughout China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. Xinhua Sports & Entertainment Limited shares are listed on the NASDAQ Global Market (Nasdaq: XSEL). For more information, please visit http://www.xsel.com .
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 XSEL'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 XSEL's filings with the U.S. Securities and Exchange Commission, including its annual report on Form -20-F. All information provided in this press release is as of the date hereof, and XSEL undertakes no duty to update such information, except as required under applicable law.
