Primedia Annouces Key Senior Appointments At the Newly-Formed Primedia Digital Video Unit
NEW YORK, Aug 8, 2000 (BUSINESS WIRE) --
Veterans from Time Warner, NBC, ABC/Disney and Fox to Develop the Video Magazine Rack for the Broadband Environment
Primedia (NYSE: PRM chart, msgs) chairman and CEO Tom Rogers, and Primedia Digital Video CEO Jim Ritts, announced today the appointment of the key senior management team that will drive Primedia Digital Video, the newly created digital video unit of the company.
They will lead the charge to develop a strategy to exploit Primedia's significant video assets and consumer niche franchises to establish the company as a leading content provider in the emerging broadband environment.
Bruce Gamache has been named president of Primedia Digital Video; Marc Krigsman has been named executive vice president, content; and Tara Maitra has been named senior vice president, operations.
In making the announcement, Mr. Rogers said, "Eight months ago, no one would have thought of Primedia as a player in the broadband video arena. With these appointments, the leadership strength of Jim Ritts, and our relationship with Liberty Media and Liberty Digital, we are well-positioned to be a leader, not just a player."
Mr. Rogers continued, "On March 30th, Liberty Media took a 5% stake in Primedia, with an option to acquire a 12.5% stake in this new digital video unit. Liberty made this investment in large part because of the potential they saw in our ability to develop a digital video business based on our niche media assets. These assets, combined with our in-house production facility perfectly position us to be the key providers of the long awaited video magazine rack to fulfill the technological promise of new digital set tops in the house."
Mr. Ritts added, "For the past decade, Primedia has quietly compiled a vast array of video content and compelling consumer audience franchises that will have extraordinary applicability to the new digital era. We have a treasure of video across our company that covers a broad range of categories in the consumer area and the B2B area. Combining these assets with the extensive new media experience of this team of true pioneers will create a strong advantage for us in the development and distribution of video content in the emerging broadband environment.
Primedia's video operations include; Channel One Network, the largest source of news and information for teenagers (its award-winning 12-minute newscast is seen daily by more than eight million students); Films for the Humanities and Sciences, offering over 7,000 educational video titles for classroom use; and basic cable television programs produced by American Baby, Fly Fisherman and other Primedia magazines. The company also owns and operates the Automotive Satellite Network, the Fire & Emergency Television Network, the Health & Sciences Television Network, among other networks of Primedia Workplace Learning.
Bruce Gamache has been named president, Primedia Digital Video. Mr. Gamache will report directly to Mr. Ritts.
Mr. Gamache is a fourteen-year veteran of traditional and new media companies where he was instrumental in the development and launching of new business ventures. He joins Primedia from Digital Entertainment Network where he was COO from 1999-2000. Previously, he worked for Time Warner, Inc. companies from 1986-1998. From 1996-1998, he was COO of HBO Ole, the leading provider of premium and basic cable channels in Latin America and Brazil. He was senior vice president, international channels for Warner Bros. from 1994-1996; senior vice president, HBO International from 1992-1994; and VP, finance and analysis for HBO from 1986-1992. Prior to moving into the media business, he served in finance and accounting positions at United Brands Company and Price Waterhouse.
A graduate of UCLA with a BS degree in Economics, Mr. Gamache holds an MBA from the Wharton Business School.
Marc Krigsman has been named executive vice president, content, Primedia Digital Video. Mr. Krigsman has a significant background in content development, production, acquisition and syndication. He joins from the FOX Channels group, where he most recently has been senior vice president, programming, production and content. In this position, he established the world's first fully integrated cable Internet service. Prior to the post, he was the vice president, business and program development, Fox/Liberty Networks, where he was part of the initial management team for Fox Sports Net.
Prior to joining FOX, Mr. Krigsman worked for ABC/Disney from 1993-1998. He was in original programming and development at ESPN where he pioneered the development of specialty and entertainment based programming, new business ventures, and ancillary products. Prior, he was the director, programming and acquisitions and an executive producer at ABC Video/ABC Multimedia. He was a key player in ABC's first Internet projects, and was responsible for building the assets of the new video division.
Mr. Krigsman has a background in production that includes work at Titan Television, NBC and Super Sports Television Network. He is a graduate of the Newhouse School of Public Communications at Syracuse University.
Tara Maitra has been named senior vice president, operations, Primedia Digital Video. Ms. Maitra joins from NBC, where for the last six years, she has played an integral role in content development and implementation of multimedia platforms delivering live and on-demand financial news video. Most recently, she served as vice president and general manager of CNBC/Dow Jones Business Video, reporting directly to the board of the joint venture comprised of parent companies, NBC, Microsoft and Dow Jones. In this role, she was responsible for the business development, technical operations, product management and syndication related to CNBC's streaming video content. Under her leadership, CNBC/Dow Jones Business Video became the first profitable site offering streaming video.
Prior to joining NBC, Ms. Maitra was news director, anchor and reporter for C-TEC Cable Systems (now RCN), where she managed and anchored all news programming. She began her career at CNBC as a news associate in 1992. She holds a BA degree in journalism and psychology from Washington and Lee University.
PRIMEDIA Inc., with 1999 sales of $1.7 billion, is a targeted media company with print, video, and Internet businesses focused on consumer and business-to-business audiences. The Company publishes more than 220 magazines, and owns and operates 300 Web sites and other Internet properties. Over the past year, the company has formed alliances in the video arena with Liberty Media, CMGI, Cablevision and Sony.
PRIMEDIA's stock symbol: NYSE: PRM. |
