Prominent Entertainment Industry Executive Joins GigaMedia
TAIPEI, Taiwan, April 20, 2007 – GigaMedia Limited ("GigaMedia" or the "Company") (NASDAQ: GIGM) announced today the appointment of Samuel Chou, a renowned entertainment industry executive, as head of online games and entertainment for GigaMedia.
Mr. Chou joins GigaMedia with more than 20 years experience in the entertainment and advertising industries and a distinguished record of developing strong brands and driving strong growth.
Mr. Chou was chairman and chief executive officer of Warner Music for the Greater China Region from 2004 to 2006. Prior to that, Mr. Chou was managing director of Warner Music in Taiwan, where he built Warner Music into the number one record label, quadrupling their market share and tripling their profitability. While at Warner Music, Mr. Chou was selected by Time Magazine as one of five "People to Watch in International Business." Mr. Chou was also previously the chairman of the International Federation of the Phonographic Industry in Taiwan.
"We are tremendously excited to welcome such an accomplished industry leader to our team," stated GigaMedia Chief Executive Officer Arthur Wang. "Samuel has been a major force in defining the entertainment experience in Asia for over a decade and we look to his leadership as we grow our online entertainment platform across the region."
"Samuel has repeatedly proven his understanding of what is relevant to our target audience," explained Giga CEO Arthur Wang. "And he will be key in helping us shape the most meaningful online offering – games and other forms of online community, expression and entertainment – which have now claimed primacy over traditional media."
As chief executive officer and president of online games and entertainment at GigaMedia, Mr. Chou will have overall responsibility for the Company's rapidly expanding online games and other online entertainment operations throughout Asia.
"I am thrilled to join such a strong company with such exciting growth potential," stated Samuel Chou. "I look forward to working with the team and leading GigaMedia through a period of significant and sustained growth and product success."
Mr. Chou joins GigaMedia from AsiaMuse Entertainment Group, a leading independent content and media group with services in key markets including recorded music, artist management, music portals, corporate communications, and television and media buying.
Samuel Chou earned his Master of Business Administration degree from the prestigious National Jiao Tung University in Taiwan and his Bachelor of Arts degree from National Taiwan University.
About GigaMedia
GigaMedia Limited (Singapore registration number: 199905474H) is a major provider of online entertainment software and services. GigaMedia develops software for online entertainment services, including the global online gaming market. GigaMedia's FunTown game portal is a leading Asian casual games portal and the world's largest online MahJong game site in terms of revenue. GigaMedia also operates a broadband ISP providing Internet access services to consumers and corporate subscribers in Taiwan. More information on GigaMedia can be obtained from www.gigamedia.com.tw.
The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. GigaMedia cautions readers that forward-looking statements are based on the Company's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from those contained in such forward-looking statements. Information as to certain factors that could cause actual results to vary can be found in GigaMedia's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission in June 2006. |
