Loudeye Expands Executive Management Team to Address Growing Global Opportunity for Digital Media Distribution Services
March 07 2005 - 7:05AM
PR Newswire (US)
Loudeye Expands Executive Management Team to Address Growing Global
Opportunity for Digital Media Distribution Services -- Appoints
Larry Madden president, digital media solutions SEATTLE, March 7
/PRNewswire-FirstCall/ -- Loudeye Corp. (NASDAQ:LOUD), a worldwide
leader in business-to-business digital media solutions, today
announced the expansion of its global operations and executive
management team to address the growing opportunity for its digital
media services around the world. Larry Madden, 40, currently
Loudeye's chief financial officer and executive vice president, is
being promoted to head Loudeye's music store business and oversee
its media industry relationships, both on a global basis, in the
newly created role of president, digital media solutions. Madden
brings nearly 20 years of media and entertainment experience
spanning the recorded music, filmed entertainment and entertainment
marketing industries. He has held senior executive positions at
such companies as Def Jam Recordings, PolyGram International and
EMAK Worldwide, as well as a number of start-up entertainment and
technology companies. Madden will work closely with the newly
appointed chief financial officer in the coming months to ensure an
orderly and effective transition. Also today, Loudeye appointed
Ronald M. Stevens as chief financial officer and chief operating
officer. Mr. Stevens, 41, brings 20 years of experience in
operational and financial management, including most recently
serving as chief financial officer and chief operating officer of
Primus Knowledge Solutions, Inc., a Nasdaq-traded e-business and
e-service solutions provider. At Primus, Stevens drove operations
that transformed the company into a worldwide leader in providing
e-service solutions to large enterprises, leading to Primus' 2004
acquisition by Art Technology Group. Prior to Primus, Mr. Stevens
was president and chief operating officer for OnHealth Network
Company. During this time, OnHealth earned the coveted distinction
of being the single most trafficked health site on the Internet,
and was acquired by WebMD Corporation in 2000. Previously, Mr.
Stevens served as a senior vice president at Sierra On-Line, Inc.,
one of the world's largest publishers of interactive entertainment,
educational, and home productivity software. Under Mr. Stevens'
leadership, the Sierra Home Division grew from seventh to second in
total market share in the competitive home productivity software
category. Additionally, Mr. Stevens was responsible for
acquisitions, strategic relationships, and expansion of development
and marketing capacity. "As Loudeye continues to grow rapidly due
to scaling demand for our digital media distribution services
globally, we needed to expand the executive team to focus on the
key high growth opportunities before us," said Mike Brochu,
Loudeye's president and chief executive officer. "Larry has a
proven business background in major media and entertainment
companies and we look forward to him leading our global music store
business and serving as a liaison with major record labels and
other content owners." "Ron has a deep experience running
operations of global organizations and a solid understanding of the
needs of emerging growth companies such as Loudeye," continued
Brochu. "We are pleased to have him on board as we continue to
build momentum in the market and aim to further enhance the
efficiencies of our global operations." About Loudeye Corp. Loudeye
is a worldwide leader in business-to-business digital media
solutions and the outsourcing provider of choice for companies
looking to maximize the return on their digital media investment.
Loudeye combines innovative products and services with the world's
largest digital music archive, a broad catalog of licensed digital
music and the industry's leading digital media infrastructure
enabling partners to rapidly and cost effectively launch complete,
customized digital media stores and services. For more information,
visit http://www.loudeye.com/. Forward Looking Statements This
release contains forward-looking information within the meaning of
the Private Securities Litigation Reform Act of 1995. These
statements are based on current estimates and actual results may
differ materially due to risks, including the possibility of
adverse changes in the market for distribution of digital audio and
video that Loudeye serves; adverse or uncertain legal developments
with respect to copyrights surrounding the creation and
distribution of digital content; pricing pressures and other
activities by competitors; the failure of Loudeye's hosting
infrastructure; the complexity of Loudeye's services and delivery
networks; any problems or failures in the structure, complexities
or redundancies of Loudeye's network infrastructure; failures in
third party telecommunication and network providers to provide
required transmission capacity; lack of market acceptance for
Loudeye's products and services; the possible delay in the adoption
of digital media or related applications on the web in general; and
other risks set forth in Loudeye's most recent Form 10-Q, Form 10-K
and other SEC filings which are available through EDGAR at
http://www.sec.gov/. Loudeye assumes no obligation to update the
forward-looking statements. DATASOURCE: Loudeye Corp. CONTACT:
investors, Michael Dougherty of Loudeye, +1-206-832-4000, or ; or
media, U.S., Karen DeMarco of mPRm, +1-323-933-3399, or ; or media,
Europe, Chris Owen of Trimedia Communications UK,
+44-0-207-471-6851, or +44-0-7970-933-680, or , both for Loudeye
Web site: http://www.loudeye.com/
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