iMedia Brands Appoints Richard E. French, Jr. to its Board of Directors
21 Settembre 2022 - 10:01PM
iMedia Brands, Inc. (“iMedia”) (NASDAQ: IMBI, IMBIL) announced
today that it has appointed Richard E. “Dick” French, Jr. to its
board of directors, effective September 15, 2022.
“I’m pleased that Dick has agreed to join our
board,” said Landel Hobbs, chairperson of iMedia. “It was about a
year ago that ShopHQ signed its affiliation agreement with RNN and
when Dick began to provide insight to us on the ever-changing
television distribution landscape, from opportunities in broadcast
to cable and from over-the-air (“OTA”) to over-the-top (“OTT”). He
is also a successful entrepreneur and participated in our recent
equity raise. We are excited to have him join us and immediately
impact our growth strategy.”
Commenting on his appointment, Mr. French said,
“I am excited to be part of iMedia and I look forward to helping
the organization continue to build an entrepreneurial culture that
engages customers’ with compelling products and advertising to grow
profitable, dual-revenue stream television networks. I look forward
to contributing.”
ShopHQ airs on RNN’s 20+ million high-definition
homes in eight of the top ten U.S. markets, including:
|
• |
WRNN |
New York City |
|
• |
KSCI |
Los Angeles |
|
• |
KCNS |
San Francisco |
|
• |
WMCN |
Philadelphia |
|
• |
KFWD |
Dallas |
|
• |
WMDE |
Washington DC |
|
• |
KUBE |
Houston |
|
• |
WWDP |
Boston |
ShopHQ airs today via cable and satellite,
over-the-air broadcasting, mobile native app and in OTT on Apple
TV, Roku, Amazon Fire TV and select Samsung Smart TVs.
About iMedia Brands, Inc.
iMedia Brands, Inc. (NASDAQ: IMBI, IMBIL)
is a global media company capitalizing on the convergence of
entertainment, ecommerce, and advertising. The Company owns and
operates a growing portfolio of vertically integrated television
networks in the United States and Western Europe.
iMedia’s common stock is traded on the NASDAQ
Global Market stock exchange under the ticker IMBI. iMedia’s 8.5%
bonds are also publicly traded on the NASDAQ Global Market under
the ticker IMBIL and pay holders 8.5% interest quarterly in arrears
on March 31, June 30, September 30, and December 31.
About RNN, Inc.
RNN is a privately held portfolio of independent
broadcast assets and production/distribution capabilities located
north of New York City. In 1993 RNN was established with a single
broadcast station in New York’s Hudson Valley, reaching less
than 250,000 homes. Over the subsequent years, RNN has grown to own
the largest group of independent broadcast stations in the United
States covering more than 28% of households within eight of the
top-ten DMAs. RNN’s total reach exceeds 86MM over-the-air
population.
Investors:Ken
Cooperkcooper@imediabrands.com (952) 943-6119
Media:press@imediabrands.com (952)
943-6125
Cautionary Statement Concerning
Forward-Looking Statements
This document may contain certain
“forward-looking statements” within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Any statements contained herein that are not statements of
historical fact, including statements regarding future revenue and
adjusted EBITDA are forward-looking. The Company often uses words
such as anticipates, believes, estimates, expects, seeks, predicts,
should, plans, will, or the negative of these terms and similar
expressions to identify forward-looking statements, although not
all forward looking-statements contain these words. These
statements are based on management's current expectations and
accordingly are subject to uncertainty and changes in
circumstances. Actual results may vary materially from the
expectations contained herein due to various important factors,
including (but not limited to): variability in consumer
preferences, shopping behaviors, spending and debt levels; the
general economic and credit environment, including COVID-19;
interest rates; seasonal variations in consumer purchasing
activities; the ability to achieve the most effective product
category mixes to maximize sales and margin objectives; competitive
pressures on sales and sales promotions; pricing and gross sales
margins; the level of cable and satellite distribution for the
Company’s programming and the associated fees or estimated cost
savings from contract renegotiations; the Company’s ability to
establish and maintain acceptable commercial terms with third-party
vendors and other third parties with whom the Company has
contractual relationships, and to successfully manage key vendor
and shipping relationships and develop key partnerships and
proprietary and exclusive brands; the ability to manage operating
expenses successfully and the Company’s working capital levels; the
ability to remain compliant with the Company’s credit facilities
covenants; customer acceptance of the Company’s branding strategy
and its repositioning as a video commerce Company; the ability to
respond to changes in consumer shopping patterns and preferences,
and changes in technology and consumer viewing patterns; changes to
the Company’s management and information systems infrastructure;
challenges to the Company’s data and information security; changes
in governmental or regulatory requirements; including without
limitation, regulations of the Federal Communications Commission
and Federal Trade Commission, and adverse outcomes from regulatory
proceedings; litigation or governmental proceedings affecting the
Company’s operations; significant events (including disasters,
weather events or events attracting significant television
coverage) that either cause an interruption of television coverage
or that divert viewership from its programming; disruptions in the
Company’s distribution of its network broadcast to customers; the
Company’s ability to protect its intellectual property rights; the
Company’s ability to obtain and retain key executives and
employees; the Company’s ability to attract new customers and
retain existing customers; changes in shipping costs; expenses
related to the actions of activist or hostile shareholders; the
Company’s ability to offer new or innovative products and customer
acceptance of the same; changes in customer viewing habits of
television programming; logistics costs including the price of
gasoline and transportation; and the risks described from time to
time in the Company’s reports filed with the SEC, including, but
not limited to, the Company’s most recent annual report on Form
10-K, quarterly reports on Form 10-Q, and current reports on Form
8-K. Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
announcement. The Company is under no obligation (and expressly
disclaims any such obligation) to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
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