U.S. Markets close in 6 hrs 14 mins

LBI Media Announces Appointment of Peter Markham to Chief Executive Officer

BURBANK, Calif.--(BUSINESS WIRE)--

- Proven Media Executive to Focus on Continued Growth and Expansion of Spanish Language Media Company -

LBI Media, Inc. (“LBI” or the “Company”) today announced the appointment of Peter Markham to Chief Executive Officer. Mr. Markham will also serve on the Company’s Board of Directors and had previously served as interim Chief Operating Officer. The Company also announced today the appointment of Brian Kei to Chief Operating Officer. Mr. Kei will continue to serve as the Company’s Chief Financial Officer.

“LBI Media is a strong and scaled media platform with a unique and well positioned set of assets,” said Peter Markham. “The combination of leading production studios, national networks, owned and operated stations, and digital platforms provides a true differentiator in the rapidly growing Hispanic consumer marketplace. We will build on this leading position by deepening our engagement with consumers, enhancing the value we provide to our marketing partners and being even more of a resource for the communities we serve. I’m excited to take on this new role and to be part of the exceptional LBI Media team that is committed to the growth of the business.”

Peter Markham brings more than 20 years of media experience to LBI Media, with a strong background in strategy, operations and business development. Previously, he served as CEO and Chairman of Granite Broadcasting and as Chairman of Communications Corporation of America where he led the operational and financial revitalization of these U.S. based television broadcasting companies. Markham’s extensive Board experience includes several public and private media and technology enabled companies operating in Spanish-language media, OTT TV, mobile technology, TV production and other emerging media spaces. He also was the Head of TMT & European Coverage at Silver Point Capital where he led direct investment coverage and value creation efforts in the U.S. and Europe. Markham holds a Master of Business Administration from New York University’s Stern School of Business, where he serves as an Adjunct Professor, and a Bachelor’s of Science in Marketing from Clemson University, where he is on the board of the Spiro Institute for Entrepreneurial Leadership.

Brian Kei is an experienced executive with an extensive background in the network television, broadcast station, digital media, advertising and production industries. During his career he has overseen all financial functions including strategy, FP&A, accounting, treasury and tax, and has led strategy and growth initiatives across a number of businesses. He has served as Chief Financial Officer of LBI Media since 2018 and was previously Vice President of Finance & Strategy at Disney ABC Television Group where he managed global financial and operations teams. In his almost 20 years at Disney, Kei served in a number of increasing senior positions where he provided business advisory services to operating management, managed finance and business operations, established new finance groups, developed operating and strategic plans, and led cross-division project teams. Kei has a Bachelor of Arts in economics and a certificate in political economy from Princeton University.

About LBI Media, Inc.

LBI Media, Inc., is a leading vertically integrated, multi-platform, Spanish-language media company operating across all of the top U.S. Hispanic markets. Producing over 2,500 hours annually of original TV programming at the Empire Burbank Television Studios, the company is one of the largest U.S. producers of Spanish-language TV content. The company's Estrella TV Network is distributed through owned and operated TV stations, TV network affiliates and related digital media properties. The Estrella TV programming catalog, consisting of over 7,500 hours of original Spanish-language television programming, is one of the largest libraries of content produced in the U.S. for the U.S. Hispanic marketplace. Additionally, LBI Media is one of the most prolific developers and producers of Spanish-language radio talent and programming. The company's Don Cheto Radio Network features one of the nation's most popular radio talents and its highly-rated radio programming formats are distributed through owned and operated radio stations, affiliated stations and related digital media properties. To learn more about LBI Media and see company updates, please visit www.lbimedia.com.

Forward-Looking Statements

This release may contain forward-looking statements relating to future financial results, business expectations and business transactions. Statements that are not historical fact are forward-looking statements. Certain of these forward-looking statements can be identified by the use of words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “estimates,” “assumes,” “may,” “should,” “could,” “shall,” “will,” “seeks,” “targets,” “future,” or other similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, and our actual results, performance or achievements could differ materially from future results, performance or achievements expressed in these forward-looking statements. Such statements include, but are not limited to, statements relating to the potential transactions contemplated by the Chapter 11 bankruptcy filing and the Plan, descriptions of management’s strategy, plans, objectives, expectations, or intentions and descriptions of assumptions underlying any of the above matters and other statements that are not historical fact.

These forward-looking statements are based on the Company’s current beliefs, intentions and expectations and are not guarantees or indicative of future performance, nor should any conclusions be drawn or assumptions be made as to any potential outcome of any proposed transactions the Company considers. Risks and uncertainties relating to the proposed restructuring include: the success of the Plan and motions filed by the Company, the ability of the Company to successfully execute the transactions contemplated by the Plan without substantial disruption to its business; and the effects of disruption from the proposed restructuring making it more difficult to maintain business, financing and operational relationships, to retain key executives and to maintain various licenses and approvals necessary for the Company to conduct its business.

The above factors, risks and uncertainties are difficult to predict, contain uncertainties that may materially affect actual results and may be beyond the Company’s control. New factors, risks and uncertainties emerge from time to time, and it is not possible for management to predict all such factors, risks and uncertainties. These forward-looking statements speak only as of the date such statements were made, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changes in underlying assumptions or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191015006104/en/