GENIUS PRODUCTS LLC ENHANCES LEADERSHIP TEAM WITH INDUSTRY VETERAN
Monday, March 05, 2007
Ed Byrnes, formerly of Warner Home Entertainment, appointed Executive Vice President, Finance Systems and Information Technology.
Santa Monica, California, March 5th, 2007 – Genius Products LLC announced today that Mr. Ed Byrnes has been appointed Executive Vice President, Finance, Systems and Information Technology.
Byrnes joined Genius after a distinguished 30 year career with Warner Bros., one of the largest global media and entertainment companies, where he served in a number of senior positions in both the music and filmed entertainment groups. In 1980 he was instrumental in the creation of Warner Bros.’ International Home Entertainment group, initially setting up the UK company, thereafter managing the EMEA region (Europe, Middle East and Africa) and from 1985 through 2000 serving as International Executive Vice President and General Manager. During his tenure revenues for Warner Bros.’ International Home Entertainment group grew tenfold.
In late 2000, Warner Bros.’ global Home Entertainment business had grown to become the largest division of Warner Bros. and Byrnes became Executive Vice President, Worldwide Finance, Systems and IT, addressing the need to globalize the Home Entertainment Division, enhance the infrastructure needed for the significant increased transactions and address the significant requirements of Sarbanes-Oxley.
“I look forward to working with the uniquely creative, inventive and dedicated people who work at Genius and The Weinstein Company. We will continue to focus on running our business with integrity and professionalism, attracting quality content and focusing on disciplined ways to improve shareholder value” stated Byrnes. “There is nothing I enjoy more than an exciting new venture and sharing my knowledge and experience with enthusiastic, innovative and committed individuals.”
In making the announcement, Genius Products Chief Financial Officer John Mueller said, “Ed brings a wealth of applicable experience from his long and successful career at Warner, and I am very pleased to have someone of his caliber as a member of our team. His leadership will be instrumental as we continue to enhance the financial and information infrastructure to support our rapidly expanding business.”
“I have had the privilege to previously work with Ed during my tenure at Warner Bros., and during that time I was extremely impressed with his knowledge, work ethic and capacity,” said Trevor Drinkwater, President and Chief Executive Officer. “Genius has experienced strong growth in the recent past and we have aggressive expansion plans for the future. The addition of Ed to our executive management team will ensure that we have the leading IT infrastructure enabling us to achieve our aggressive growth plans.”
Stephen K. Bannon, Chairman, said “When Trevor and I first developed the long-term vision for Genius; we knew that in order to be the leader in entertainment distribution and content we would need to attract a number of industry veterans and Ed Byrnes certainly meets that criteria. Ed’s leadership and experience significantly strengthens our executive management team and he will be an important part of Genius’ growth.”
About Genius Products
Genius Products, Inc. (OTCBB:GNPI), along with The Weinstein Company, jointly owns Genius Products, LLC, a leading independent home-entertainment distribution company that produces, licenses, and distributes a valuable library of motion pictures, television programming, family, lifestyle and trend entertainment on DVD and other emerging platforms through its expansive network of retailers throughout the U.S. Genius handles the distribution, marketing and sales for such brands as Asia Extreme™, Baby Genius®, Dragon Dynasty™, Dimension Films, ESPN®, IFC®, NBC News®, Wellspring™, The Weinstein Company® and WWE®. Genius Products, Inc. is the managing member of Genius Products, LLC, in which it holds a 30% equity interest.
Safe Harbor Statement
This press release contains forward-looking statements, including statements as to the anticipated growth and expansion plans of our business, our anticipated market position within the entertainment distribution industry, and the anticipated effect of Mr. Byrnes’ employment on our growth, market position and business generally. These forward-looking statements reflect assumptions and involve risks and uncertainties that may affect Genius Products’ business, projections and prospects, and cause actual results to differ materially from those in these forward-looking statements. Actual results could vary for many reasons, including but not limited to, the success of the strategic alliance between The Weinstein Company and Genius Products, our ability to continue to acquire and keep valuable content or expand our distribution partnerships, the unpredictability of audience demand, the success of TWC titles at the box office and the popularity of our titles on DVD, our ability to perform under the terms of our agreement with our content providers, our ability to continue to manage our significant growth, the effect of technological change and the availability of alternative forms of entertainment, our ability to maximize our operating leverage. Other such risks and uncertainties include the matters described in Genius Products, Inc. filings with the Securities and Exchange Commission. We assume no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Contact:
Genius Products, Inc.
GNPI—Investor Relations
John Mills/Anne Rakunas, 310-954-1100
Or
GNPI—Media Relations
Alecia Pulman, 203-682-8200