New Motion (MM) (NASDAQ:NWMO)
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From May 2019 to May 2024
New Motion, Inc. doing business as Atrinsic (NASDAQ:NWMO), announced
today, that Jerome A. Chazen has been named the Chairman of the Company’s
Board of Directors, effective November 11. Mr. Chazen, who has been a
director of Atrinsic since 2006, replaces Mr. Robert B. Machinist, who
became Atrinsic’s Chairman upon the completion
of the Company’s merger with Traffix, Inc. on
February 4, 2008. Mr. Machinist has resigned from the Company’s
Board of Directors and will serve as a consultant to the CEO and the
Board.
In addition, the Company has appointed two new directors, Mark Dyne and
Jeffrey Schwartz, and announced that Andrew Stollman, the Company’s
President, has also resigned from the Company’s
Board. Mr. Stollman will remain with the Company within his current
operating role. Mr. Schwartz and Mr. Chazen are both independent
directors.
Mr. Dyne currently serves as the CEO and the Chairman of Europlay
Capital Advisors, LLC, a merchant banking and advisory firm. In this
capacity, he provides corporate advisory services. Mr. Dyne served as
one of the first board members and was one of the earliest investors in
Skype and Joost.com. He previously served as Chief Executive Officer of
Sega Gaming Technology Inc. (USA), Virgin Interactive Entertainment
Ltd., and Sega Ozisoft Pty Ltd.
Mr. Dyne commented, “I am pleased to be
joining the board at this exciting point in the corporate evolution of
Atrinsic because I believe the Internet and mobile content sector will
continue to be an area of significant growth, and I continue to be
impressed with Atrinsic’s compelling business
and competitive position.”
Mr. Schwartz is the former President and CEO of Autobytel, Inc., where
he created a leading online automotive marketing services company with
operations in the U.S., Europe and Asia. Previously, Mr. Schwartz was
President, CEO and a director of Autoweb.com, Inc. and he also held
several senior executive positions at The Walt Disney Company, including
Corporate Vice President responsible for worldwide corporate alliance
business development. Mr. Schwartz is the founder and Managing Partner
of Vertical Passion Media, a leading web publisher. He also serves on
the board of US Auto Parts, the number one ranked automotive ecommerce
site on the Internet.
Mr. Chazen commented, “Atrinsic represents an
exciting and emerging opportunity and I’m
excited to add two proven leaders in digital media and marketing to our
board. We are focused on developing Atrinsic into a leading Internet and
mobile content company. I also want to welcome Mr. Schwartz and Mr. Dyne
to our board. Jeffrey brings a proven track record at creating
shareholder value, ranging from business development, marketing and
licensing for Disney to the development of Autobytel. Mark has a long
history of developing digital properties and technology focused
businesses around the world. Both of these industry leaders will be of
incredible value to our enhanced board of directors.”
Mr. Chazen continued, “I also want to thank
Mr. Machinist and Mr. Stollman for their valued service to the Board of
Directors and their many contributions to the organization. I am pleased
that Andrew will continue to serve Atrinsic as its President. Bob was
instrumental in helping to successfully close the Company’s
merger with Traffix. Now that this important transaction is complete, he
will remain as a consultant to the company and will assist in helping
Atrinsic achieve its long-term strategic goals.”
About Atrinsic
New Motion, Inc., doing business as Atrinsic (NASDAQ:NWMO), is one of
the fastest growing digital advertising and entertainment networks in
the United States. Atrinsic brings together the power of the Internet,
the latest in mobile technology, and traditional marketing/advertising
methodologies, creating a fully integrated vehicle for both
entertainment content and brand-based and performance advertising.
Entertainment content is organized into four strategic services --
digital music, casual games, sweepstakes, and community and lifestyle.
Brands include Altnet, a mobile legal music download service featuring
original artists, GatorArcade, a premium online and mobile gaming site,
Bid4Prizes, a low-bid mobile auction game, and iMatchUp, one of the
first integrated web-mobile dating services. Feature-rich advertising
services include a mobile ad network, extensive search capabilities,
e-mail marketing, one of the biggest publisher networks around at 8000+
and growing, and proprietary entertainment content. Headed by a team of
Internet, new media, entertainment and technology professionals, the
Company is headquartered in New York and has offices in Irvine, CA,
Seattle, WA, and Moncton, Canada. Atrinsic was recently called "a
company to watch" by Wireless Business Forecast, and the Company’s
mobile content capabilities were named a "rival to those of their
mainstream-media counterparts" by Wired Magazine. For more information,
please visit www.atrinsic.com.
Forward-Looking Statements
This news release includes forward-looking statements. These statements
are based on certain assumptions and reflect our current expectations.
Statements including words such as “anticipate,”
“propose,” “estimate,”
“believe” or “expect”
and statements in the future tense are forward-looking statements. These
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual
results, performance or achievements to differ materially from any
future results, performance, or achievements discussed or implied by
such forward-looking statements. Some of the factors that could cause
results to differ materially from the expectations expressed in these
forward-looking statements include the following: risks related to the
successful offering of the company’s products
and services in a recessionary economy; the risk that the anticipated
benefits of the company’s merger with Traffix
and the company’s acquisition of Ringtone.com
may not be realized; and other risks that may impact New Motion’s
businesses, some of which are discussed in the company’s
reports filed with the Securities and Exchange Commission (the “SEC”)
under the caption “Risk Factors.”
Copies of New Motion’s filings with the SEC
can be obtained at the SEC’s website at www.sec.gov.
You can also obtain copies of New Motion’s
reports through its website at http://www.atrinsic.com.
Forward-looking statements speak only as of the date of the document in
which they are made. New Motion undertakes no obligation to publicly
update or revise any forward-looking statements to reflect events or
circumstances that may arise after the date of this release.