XFMedia Changes its Corporate Identity and Ticker Symbol to XSEL
02 Marzo 2009 - 12:25PM
PR Newswire (US)
Company to Focus Sports and Entertainment BEIJING, March 2
/PRNewswire-Asia-FirstCall/ -- Xinhua Finance Media Limited
(NASDAQ:XFML) (the "Company"), a leading media group in China,
announced today that it has changed its name to Xinhua Sports &
Entertainment Limited ("XSEL") following shareholder approval
obtained on January 15, 2009. The Company is unveiling a new
corporate identity which highlights its focus on the rapidly
expanding sports and entertainment market in China. Its trading
symbol on the NASDAQ Global Market will be changed from "XFML" to
"XSEL" effective Monday, March 2, 2009. Link to the new XSEL logo:
http://www.xsel.com/logo/ Positioned to offer advertisers an
effective platform to reach the young, upwardly mobile demographic
in China, the Company has been growing its media platforms beyond
finance with a particular focus on sports and entertainment. This
is an extension of the continued effort to target the fastest
growing and most affluent audiences in China. The new corporate
name and identity more accurately reflect the Company's mission and
its direction for future growth. Ms. Fredy Bush, XSEL's Chief
Executive Officer said, "Sports themed programming is the fastest
growing and most profitable segment of the broadcast industry in
China today. According to research conducted by Morgan Stanley,
there are approximately 500 million soccer fans and 300 million
basketball fans in China. Providing additional popular
international sports content to these individuals as well as the
sizeable untapped fans in China is a compelling business strategy
and investment opportunity." "China's media market is continuing to
open opportunities that were not available just one year ago.
Content is fast becoming the most valuable commodity in China. We
are in the fortunate position of being able to leverage our
well-established platform of media and advertising resources to
deliver content across television channels, the Internet, and
mobile phones," continued Ms. Bush. XSEL's total media solution
reaches approximately 250 million television viewers, a radio
broadcast audience of approximately 125 million, over 480 million
potential mobile phone users and an extensive university network of
over 45 million students. XSEL provides Chinese audiences access to
premium sports and entertainment content while also offering
advertisers access to China's young, upwardly mobile demographic.
As a result of the Company's focus on sports and entertainment, it
is rolling out a new corporate identity, which is derived from the
concept of "spotlights", an element universally associated with the
excitement of sports and entertainment. Moreover, its new corporate
brand mark via its "X" shape symbolizes convergence, namely its
capacity to bring together content and access, advertisers and
audiences, and the best practices of East and West. The "X" also
represents the Company's continued business expansion and
extension. Furthermore, through the abbreviation of the new Company
name "XSEL", the Company conveys to the market its ability to
"excel" in China's media industry as well as its capability to help
its clients "excel" in reaching their target audience in China. The
new corporate name follows a number of announcements by the Company
regarding expansion into new ventures related to sports
broadcasting and film production in China. Among these various
initiatives, the Company acquired exclusive distribution rights in
China to the All Sports Network ("ASN"). ASN's content includes the
NFL, NCAA March Madness, all Pac 10, ACC, and Big 10 competitions
and exclusive NHL regular and post season games. XSEL has also
purchased the 2009 - 2012 seasons of the UEFA Europa League as well
as rights in China to one of the largest fight sports libraries in
the world featuring World Class boxing, Mixed Martial Arts, Kung fu
and other competitions. About XSEL Xinhua Sports &
Entertainment Limited ("XSEL"; NASDAQ: XSEL) is a leading sports
and entertainment media company group in China. Catering to a vast
audience of young and upwardly mobile consumers, XSEL is
well-positioned in China with its unique content and access.
Through its key international partnerships, XSEL is able to offer
its target audience the content they demand -- premium sports and
quality entertainment. Through its Chinese partnerships, XSEL is
able to deliver this content across a broad range of platforms,
including television, the Internet, mobile phone, cinema,
university campuses and other multimedia assets in China. Along
with its in-house advertising resources, XSEL offers a total
solution empowering clients at every stage of the media process
linking advertisers with China's young and upwardly mobile
demographic. Headquartered in Beijing, the company employs more
than 1,350 people and has offices and affiliates in major cities
throughout China including Beijing, Shanghai, Guangzhou, Shenzhen
and Hong Kong. Xinhua Sports & Entertainment Limited shares are
listed on the NASDAQ Global Market (NASDAQ:XSEL). For more
information, please visit http://www.xsel.com/ . Safe Harbor
Statement This announcement contains forward-looking statements.
These statements are made under the "safe harbor" provisions of the
U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Statements that are not historical facts, including statements
about XSEL's beliefs and expectations are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties that could cause actual results to differ materially
from those contained in any forward-looking statements. Among other
things, quotations from management in this announcement contain
forward-looking statements. Potential risks and uncertainties
include, but are not limited to, risks outlined in XSEL's filings
with the U.S. Securities and Exchange Commission, including its
annual report on Form 20-F. This press release is based upon
information available to the public, as well as other information
from sources which management believes to be reliable, but it is
not guaranteed by XSEL to be accurate, nor does XSEL purport it to
be complete. Opinions expressed herein are those of management as
of the date of publication and are subject to change without
notice. XSEL undertakes no duty to update such information, except
as required under applicable law. For more information, please
contact: Media Contact Joy Tsang XSEL Tel: +86-21-6113-5999 Email:
Lindsay Koval AGG International Tel: +1-212-614-4170 Email: IR
Contact Edward Liu XSEL Tel: +86-21-6113-5978 Email: Howard
Gostfrand American Capital Ventures Tel: +1-305-918-7000
+1-877-918-0774, toll free Email: DATASOURCE: Xinhua Finance Media
Limited CONTACT: Media, Joy Tsang of XSEL, +86-21-6113-5999, ; or
Lindsay Koval of AGG International, +1-212-614-4170, ; or IR,
Edward Liu of XSEL, +86-21-6113-5978, ; or Howard Gostfrand of
American Capital Ventures, +1-305-918-7000, +1-877-918-0774 toll
free, Web site: http://www.xsel.com/
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