iMedia Brands Appoints Darryl Porter to its Board of Directors
August 12 2020 - 8:00AM
iMedia Brands, Inc. (NASDAQ: IMBI) has appointed Darryl Porter to
its board of directors, effective August 11, 2020.
Mr. Porter is a proven media executive with over
30 years of diversified business and creative experience in
television, film and music. He is the CEO of Iconic Spectrum, a
licensing company that specializes in monetizing African American
icons like Miles Davis and George Duke across all forms of media.
Prior to Iconic Spectrum, Mr. Porter served as CEO of Underworld
Entertainment, a Disney-affiliated, feature film production
company. During his tenure, Underworld developed notable films such
as “Dead Presidents” and “Menace II Society.” Earlier in his
career, Mr. Porter was VP, Business Affairs at Tribune
Entertainment. He began his career at the law firm of Schuyler,
Roche & Zwirner, specializing in securities litigation and
sports and entertainment law. Mr. Porter holds a Juris Doctor from
the University of Illinois College of Law.
“I’m very pleased Darryl has agreed to join
iMedia’s board,” said Landel Hobbs, chairman of iMedia Brands. “We
are accelerating our growth as a leading interactive media company,
and it’s critical we have a seasoned entertainment executive like
Darryl on the board who can immediately impact our growth
strategies and our marketplace opportunities.”
Commenting on his appointment, Darryl said, “I
am excited to be part of iMedia and I look forward to helping the
teams continue to build a culture of entrepreneurial spirit and
passionate innovation that engages customers’ imaginations,
interests and needs. Today’s shifting media landscape requires that
kind of effort and skill, and I look forward to contributing.”
Mr. Porter fills a board vacancy created by
Benoît Jamar’s resignation last week. Commenting on the departure,
Hobbs said: “On behalf of the iMedia board, we appreciate Benoît’s
service and contributions to our business and wish him well in his
future endeavors.”
About iMedia Brands, Inc.iMedia
Brands, Inc. (Nasdaq: IMBI) is a leading interactive media company
that manages a growing portfolio of niche television networks,
niche advertisers and complementary media services in North
America. Its brand portfolio spans multiple business models and
product categories and includes ShopHQ, Bulldog Shopping Network,
Float Left Interactive, J.W. Hulme and iMedia Media Services.
Please visit www.imediabrands.com for more investor
information.
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995This document may
contain certain “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Any
statements contained herein that are not statements of historical
fact, including statements regarding the ShopHQHealth network
launch and our beliefs regarding the marketplace opportunity for
health and wellness products and services are forward-looking. The
Company often use words such as anticipates, believes, be more
optimistic, estimates, expects, intends, seeks, predicts, hopes,
should, plans, will and similar expressions to identify
forward-looking statements. 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; our
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;
and the risks identified under Item 1A(Risk Factors) in the
Company’s most recently filed Form 10-K and any additional risk
factors identified in its periodic reports since the date of such
Form 10-K. More detailed information about those factors is set
forth in the Company’s filings with the Securities and Exchange
Commission, including its 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’s is under no obligation (and expressly disclaim any
such obligation) to update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
Contacts:
Investors:Gateway Investor
RelationsCody SlachIMBI@gatewayir.com(949) 574-3860
Media:press@imediabrands.com(800) 938-9707
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