Applies to -- MYTN -- TWX -- WINK
Former Time Warner Executive and HBO CEO Michael Fuchs Named Interim Chief Executive Officer and Chairman of MyTurn.com
Former Time Warner Executive and HBO CEO Michael Fuchs Named Interim
Chief Executive Officer and Chairman of MyTurn.com
ALAMEDA, Calif., Apr 5, 2000 (BUSINESS WIRE) --
-- Fuchs to Lead MyTurn in Bringing Technology to the Mass Market
Offering First Fully Integrated PC With Complete Operating System
and Internet Access For Under $300 --
MyTurn.com, Inc. (Nasdaq:MYTN), a provider of Internet-based, e-commerce
computing products and services, today announced it has named Michael Fuchs as
interim chief executive officer and chairman of the board.
Fuchs, 54, a current director, succeeds Paul Danner, who will continue to serve
in the newly formed Office of the President. Former chairman, R. E. "Teddy"
Turner IV, will continue as a director of the company.
Targeting the millions of American households without computers and access to
the Internet, MyTurn will offer consumers fast and reliable Internet access.
With the touch of a single button, consumers will soon be able to send and
receive e-mail and surf the Web using the GlobalPC's online service, built in
high-speed modem and enhanced Internet software.
The GlobalPC features an easy-to-use interface for the first-time computer user.
The fully integrated system comes with a complete OS, an Internet browser,
e-mail package, and an office suite of software applications, including word
processor, spreadsheet, database, and graphics programs.
It is expected to be launched initially to five target cities in mid 2000 with a
full rollout planned for the end of 2000.
"Since joining MyTurn.com as a director, I have been increasingly impressed with
the extraordinary opportunities for this company.
"By eliminating the primary obstacles that prevent hundreds of millions of
people in the United States and worldwide from participating in the technology
revolution -- namely, ease-of-use, affordability and market accessibility --
MyTurn.com should offer a compelling solution to bridging the Digital Divide,"
said Fuchs.
"This reminds me very much of the early days of cable and HBO, and the
opportunity and growth potential in this instance are just as exciting. In this
very dynamic and competitive new technology environment, I feel strongly that
MyTurn will make a difference."
"Michael brings the valuable experience of working with some of the leading
entertainment media companies and growing HBO from its earliest stages. This
will be invaluable as we progress forward in our plans to launch MyTurn.com's
products and services to the mass market," said Turner.
Fuchs' strength in programming led him to become chairman and chief executive
officer of HBO in October 1984.
In May of 1995 Fuchs added the chairmanship of Warner Music Group to his
portfolio, becoming responsible for the overall management of the two divisions
for the world's leading entertainment conglomerate, Time Warner, Inc. After more
than twenty years in the entertainment business, Fuchs left both HBO and Time
Warner in November 1995.
Since 1995, Fuchs has served on the boards of Autobytel.com Corporation, Wink
Communications, WhatsHotNow.com and Latin Communications Group Inc., as well as
numerous non-profit organizations. Fuchs holds a bachelor of arts degree in
political science from Union College in Schenectady, New York and earned a juris
doctorate from New York University Law School. Fuchs has received many honors
and awards in recognition of both his quality broadcasting and public service.
MyTurn.com has headquarters in Alameda, and also maintains offices in
Jacksonville, Fla. For more information visit www.myturn.com.
Forward Looking Statements
Certain information contained in this announcement are "forward-looking
statements." MyTurn.com cautions readers that certain important factors may
affect actual results and could cause such results to differ materially from any
forward-looking statements which may be deemed to have been made in this
announcement or which are otherwise made by or on behalf of MyTurn.com. For this
purpose, any statements contained in this announcement that are not statements
of historical fact may be deemed to be forward-looking statements. Factors which
may affect results include, but are not limited to, new and rapidly changing
developments relating to the Internet and Internet related technology and
products, new technology developments, developments and regulation in the
telecommunications industry, the risk of loss of management and personnel, the
competitive environment within the Internet and telecommunications industries,
the ability of MyTurn.com to develop its infrastructure, the ability of
MyTurn.com to partner with a hardware manufacturer to produce the Global PC
personal computer, the ability to enter into arrangements to sell products
through the retail mass market channels, the ability of MyTurn.com to secure
agreements with content providers for its Internet portal, the ability of
MyTurn.com to finalize a network services agreement with a national Internet
Service Provider (ISP) to provide network access, the ability of MyTurn.com to
raise additional capital which will be required in the next 120 days to continue
to develop and sustain business at current levels and to implement MyTurn.com's
business plan, the competence required and experience of management and economic
conditions.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: For MyTurn.com
Smith Public Relations
Diana Soltesz/Lina Celella, 310/788-0456 (Media)
diana@smith-pr.com
lina@smith-pr.com
or
Pondel/Wilkinson Group
E. E. Wang/Julie Crandall, 310/207-9300
(Investor Relations)
investor@pondel.com
or
DSFX, Inc. (New York Contact)
John Scanlon, 212/935-4040
KEYWORD: CALIFORNIA NEW YORK FLORIDA
INDUSTRY KEYWORD: CONSUMER/HOUSEHOLD
ELECTRONIC
GAMES/MULTIMEDIA
ENTERTAINMENT
HARDWARE
MANAGEMENT
CHANGES
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