USA Digital Radio Elects Two New Board Members
COLUMBIA, MD (July 15, 1999) - USA Digital Radio Inc., a privately-held technology company headquartered in Columbia, Md., today announced the election of Gregory C. Simon and Fred Wilson to its board of directors. Greg Simon has extensive government experience, recently serving as chief domestic policy advisor to Vice President Al Gore. Fred Wilson is a leading venture capitalist focused on providing equity financing to high technology companies. USA Digital Radio is owned by the nation's leading broadcasters and is developing and marketing In-Band On-Channel Digital Audio Broadcasting (IBOC DAB) technology for AM and FM, the most exciting change in broadcasting since radio's invention more than 70 years ago.
"I am very excited by these additions to USADR's board. Greg's strong experience and contacts in Washington will be extremely valuable as we work with the FCC to implement IBOC," said Robert J. Struble, president, chief executive officer, and chairman of USA Digital Radio, Inc. "Fred's expertise in helping emerging technology companies achieve long term success will assist us in moving our business rapidly forward. Our two new board members complement the extensive broadcast industry experience already represented on our board."
Simon, president and chief executive officer of Simon Strategies, Inc., provides strategic advice and planning to clients in the fields of telecommunications, entertainment, biotechnology, and computer hardware and software. He served Vice President Gore for six years, first as legislative director in the Senate, then as campaign issues director during the '92 Clinton-Gore campaign, and finally as chief domestic policy advisor to the Vice President. Prior to that, he was counsel and staff director to the Subcommittee on Investigations and Oversight for the House Committee on Science, Space and Technology.
"USA Digital Radio will define the future of radio," said Simon. "I am honored to be able to help them make digital audio broadcasting a reality in both the U.S. and abroad."
Wilson is founder and managing partner of Flatiron Partners, a New York-based venture capital firm focused on Internet and high technology investments. He has been involved in the financing and development of more than thirty early-stage high technology companies. He serves on the boards of Starmedia (NASDAQ:STRM), TheStreet.com (NASDAQ:TSCM), Reciprocal, ITXC, Patagon.com, and the Internet Appliance Network. Wilson was named one of the "100 Most Influential Business Leaders in New York" by Crain's New York Business.
Wilson commented, "USADR is developing some of the most revolutionary technology I have seen in my career. I look forward to helping oversee the historic transition to digital AM and FM broadcasting."
Greg Simon and Fred Wilson join board members James E. de Castro, president, Chancellor Media Radio Group; Daniel S. Ehrman, Jr., vice president, Gannett Co., Inc.; Mel Karmazin, president and CEO, CBS Corp. and Infinity Broadcasting Corp.; Al Kenyon, vice president, engineering, Clear Channel Communications; Alfred C. Liggins, III, president and CEO, Radio One, Inc.; Robert J. Struble, president, CEO, and chairman, USA Digital Radio, Inc.; and Farid Suleman, executive vice president and CFO, Infinity Broadcasting Corp.
About USA Digital Radio, Inc.
USA Digital Radio is developing and marketing In-Band On-Channel Digital Audio Broadcasting (IBOC DAB), a digital method of transmitting virtual CD quality audio signals and enhanced data features to radio receivers. IBOC DAB is a broadcasting technology that uses the current radio spectrum to transmit existing AM and FM analog simultaneously with new high-quality digital signals. Owners of USA Digital Radio include: ABC, Inc. (NYSE:DIS); CBS Corporation (NYSE:CBS); AMFM, Inc., formerly Chancellor Media Corporation (NYSE:AFM); Chase Capital Partners; Citadel Communications Corporation (NASDAQ:CITC); Clear Channel Communications (NYSE:CCU); Cox Radio, Inc. (NYSE:CXR); Cumulus Media, Inc. (NASDAQ:CMLS); Emmis Communications (NASDAQ:EMMS); Entercom Communications Corporation (NYSE:ETM); Gannett Co., Inc. (NYSE:GCI); Hispanic Broadcasting Corporation (NASDAQ:HBCCA); Jacor Communications (NASDAQ:JCOR); Radio One, Inc. (NASDAQ:ROIA); and Sinclair Broadcast Group, Inc. (NASDAQ:SBGI).
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