BEIJING, Jan. 6, 2014 /PRNewswire/ -- AirMedia Group Inc.
("The Company"), (Nasdaq: AMCN), a leading operator of out-of-home
advertising platforms in China
targeting mid-to-high-end consumers, today announced the
appointment of Dr. Jack Qunyao Gao and Mr. Peixin Xu as directors of the Company, with Dr.
Gao being an independent director, effective January 1, 2014. Both Mr. Xu and Dr. Gao were
nominated by Bison Capital Holding Company Limited ("Bison
Capital") in connection with Bison Capital's investment in AirMedia
through its purchase of 8,100,000 American Depositary Shares from
Global Gateway Investments, Ltd.
Herman Man Guo, AirMedia's
Chairman and Chief Executive Officer said, "We warmly welcome Mr.
Xu and Dr. Gao to our board of directors, who will bring years of
experience in Internet, e-commerce, media, operations, and capital
market to our board."
Dr. Gao has over 20 years of executive experience in software,
media, entertainment and venture capital. He currently serves as
Senior Vice President of News Corporation, CEO of News Corporation
China Investments and Chief Representative of News Corporation
Beijing Representative Office. Prior to joining News Corporation in
2006, Dr. Gao was Corporate Vice President and President of
Emerging Markets at Autodesk, where he oversaw the Company's
emerging markets business with a focus on Greater China and India. Previously, he was President and
General Manager of Microsoft (China) Ltd. Co., where he was responsible for
operations, sales and marketing, government relations and business
developments. Additionally, he has been a General Partner at Walden
International, a US$1 billion venture
capital fund and Asia Business Manager at MSC Software. Dr. Gao
holds a PhD, Master and B.S in Engineering from Harbin Institute of
Technology and University of California, Los
Angeles.
Mr. Xu is the founder of Bison Capital. Mr Xu is also chairman
of Huasheng Taitong Media Investment Co., Ltd., a TV production
company and a researcher at Peking University. He was founder and
chairman of Beijing Redbaby Info-Tech Co., Ltd., a B2C e-commerce
company mainly focusing on the maternal and infant products, and a
partner of New Enterprise Associates, a venture capital fund. Prior
to that, Mr. Xu was a manager for new business at Beijing Northstar
Industrial Group, a state-owned comprehensive real estate
development and services business group. Mr. Xu has a B.A. in
business administration from the Tianjin University of Commerce. Mr. Xu has
also served as an independent director and chairman of strategy
committee of Bona Film Group Limited, a Nasdaq listed public
company, since November 2011.
About AirMedia Group Inc.
AirMedia Group Inc. (Nasdaq: AMCN) is a leading operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers.
AirMedia operates the largest digital media network in China dedicated to air travel advertising.
AirMedia operates digital frames in 33 major airports and digital
TV screens in 33 major airports, including most of the 30 largest
airports in China. In addition,
AirMedia sells advertisements on the routes operated by seven
airlines, including the four largest airlines in China. In selected major airports, AirMedia
also operates traditional media platforms, such as billboards and
light boxes, and other digital media, such as mega LED screens. In
addition, AirMedia has obtained exclusive contractual concession
rights until the end of 2020 to develop and operate outdoor
advertising platforms at Sinopec's service stations located
throughout China. For more
information about AirMedia, please visit
http://www.airmedia.net.cn.
Investor Contact:
Raymond Huang
Senior Director of Investor Relations
Tel: +86-10-8460-8678
Email: ir@airmedia.net.cn
SOURCE AirMedia Group Inc.