SearchMedia Holdings Limited Strengthens Management Team
January 06 2010 - 9:20AM
Marketwired
SearchMedia Holdings Limited ("SearchMedia" or the "Company") (NYSE
Amex: IDI) (NYSE Amex: IDI.WS) (formerly Ideation Acquisition
Corp.), one of China's leading nationwide multi-platform media
companies, today announced that its Board of Directors has made
several key additions to the Company's executive team as part of
its plan to enhance its senior management and position SearchMedia
for long-term profitable growth. Mr. Wilfred Chow has been
appointed Chief Financial Officer of the Company and Mr. Joshua
Weingard has been appointed Corporate Counsel. Ms. Jennifer Huang,
who has been serving in the additional role as Acting CFO, will
continue to serve as the Company's Chief Operating Officer.
Mr. Wilfred Chow joins the Company with nearly 20 years of
experience in the financial markets in both China and the US. Prior
to joining SearchMedia, Mr. Chow was the Senior VP of Finance of
American Oriental Bioengineering, Inc. (NYSE: AOB), where he
orchestrated the company's overall capital markets, investor
relations and M&A strategies. He also led and completed two
public offerings raising over $200 million. The company's market
capitalization increased substantially during his tenure. Mr. Chow
also assisted in the company's implementation and compliance with
SOX 404. From 2001 to 2004, Mr. Chow held the position of Chief
Financial Officer for Aptegrity, Inc., a US venture-backed company
specializing in providing applications monitoring and maintaining
and optimizing complex web-based systems. In addition, he has
served as a manager for PricewaterhouseCoopers in the New York
capital market group and as a senior auditor for Deloitte &
Touche in Hong Kong and New York. Mr. Chow received his Bachelor's
degree in Economics from the University of Hong Kong and his MBA
from the University of Leicester.
Mr. Joshua Weingard has over 10 years of experience in corporate
and securities law. Prior to joining SearchMedia, Mr. Weingard was
the Executive Vice President and Chief Legal Officer for
NationsHealth, Inc., a publicly traded healthcare company, where he
oversaw all legal matters. Prior to that, he served as Senior
Corporate and Securities Counsel for Andrx Corporation, a
Nasdaq-listed pharmaceutical company. Mr. Weingard received his JD,
MBA and Bachelor's degree in business administration from the
University of Florida. Mr. Weingard also currently serves as the
chief legal officer for three other public companies with
affiliations to The Frost Group.
Ms. Garbo Lee, SearchMedia's President, stated, "We are excited
about these new additions to our Company, and believe we now have a
stronger and more highly seasoned management team in place to help
further accelerate our Company's growth and increase our
competitive advantages. Wilfred brings considerable experience
navigating the financial markets, especially in a multi-cultural
setting. His expertise in auditing, SOX 404 compliance and
communicating with Wall Street will help us to improve our
visibility and transparency. Along with Wilfred, Joshua deepens our
compliance, governance, and legal capabilities."
About SearchMedia
SearchMedia is a leading nationwide multi-platform media company
and one of the largest operators of integrated outdoor billboard
and in-elevator advertising networks in China. SearchMedia
currently operates a network of over 1,500 high-impact billboards
with over 500,000 square feet of surface display area and one of
China's largest networks of in-elevator advertisement panels
consisting of approximately 125,000 frames in 52 cities throughout
China. Additionally, SearchMedia operates a network of large-format
light boxes in concourses of eight major subway lines in Shanghai.
SearchMedia's core outdoor billboard and in-elevator platforms are
complemented by its subway advertising platform, which together
enable it to provide multi-platform, "one-stop shop" services for
its local, national and international advertising clients that
numbered more than 780 cumulatively since inception.
Forward-Looking Statements
Any statements contained in this press release that do not
describe historical facts, including statements about SearchMedia's
beliefs and expectations, may constitute forward-looking statements
as that term is defined by the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expect,"
"anticipate," "future," "intend," "plan," "believe," "estimate,"
"confident" and similar statements. Any forward-looking statements
contained herein are based on current expectations, but are subject
to a number of risks and uncertainties that may cause actual
results to differ materially from expectations. A number of
important factors could cause actual results to differ materially
from those contained in any forward-looking statement. Potential
risks and uncertainties include, but are not limited to: our
ability to achieve long-term profitable growth, the effectiveness
of our new management and the integration of new management into
our current management team, the risks that there are uncertainties
and matters beyond the control of management, and other risks
outlined in our filings with the U.S. Securities and Exchange
Commission. SearchMedia cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. SearchMedia does not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statement to reflect any change in
their expectations or any change in events, conditions or
circumstances on which any such statement is based.
Contact: Devlin Lander ICR (415) 419-5606
devlin.lander@icrinc.com
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