IRVINE, Calif., Sept. 7, 2005 (PRIMEZONE) -- Oxford Media, Inc., (OTCBB:OXMI), a designer and marketer of proprietary Video-On-Demand and pay-for-view entertainment systems offering first-run movie content and network connectivity to small and mid-sized hotels, announced today the appointment of David L. Parker as Chairman and Chief Operating Officer. Mr. Parker replaces Tom Hemingway as Chairman, who will remain as President and CEO as well as a member of the Company's Board of Directors.
Mr. Parker brings a long and successful entrepreneurial background to Oxford Media having developed, grown and sold numerous corporate entities and assets to Fortune 500 Companies. He has personally been involved with the origination of more than 250 municipal and corporate securities transactions approximating $35 billion. Mr. Parker is currently Chairman of Special Risk Services (http://www.specialrisk.org), a boutique banking and insurance firm he co-founded in 1983, which specializes in domestic and cross-border asset backed securitization and structured finance transactions. He also serves as Chairman of Moneyline Lending Services, a California-based bank fulfillment company, as well as general partner of SRS Capital Partners, a private investment partnership that invests in privately held, emerging and/or established commercial enterprises and private real estate ventures. The principals of SRS Capital Partners are significant shareholders of Oxford Media. In 1982 he founded FISER, a registered Broker Dealer with the NASD, which was subsequently acquired by Wedbush Securities, Inc. in 1987. Prior to its acquisition, FISER was lead manager on more than $1.3 billion of new issue municipal debt in the capital markets. Mr. Parker received his BS degree in banking and finance from Brigham Young University in 1974.
Commenting on the announcement, Tom Hemingway, President and CEO of Oxford Media, stated, "I welcome David with an enormous amount of pride and anticipation. He brings to Oxford Media a wealth of leadership experience and an extensive network of business relationships and contacts. He has demonstrated the ability to successfully operate and manage fast-growing entrepreneurial companies. I expect that his insight, experience and business prowess will be invaluable to Oxford Media as we begin to accelerate our business plans and strategies."
David Parker added, "It is with great enthusiasm that I take on the role of Chairman and COO of Oxford Media. We are positioned to become the primary provider of VOD and pay-for-view content and services to small and mid-sized hotels and motels -- a market that is extremely underserved and ripe for our suite of services. I look forward to working with the entire Oxford Media management team and it's Board."
About Oxford Media, Inc.
Oxford Media is a leading developer of Private Broadband Networks (PBN) and proprietary software and hardware, which allows for the delivery of low-cost broadband Internet access as well as video and audio content on demand on a Pay-Per-View basis. The initial line of business is the delivery of Video-On-Demand and pay-for-view entertainment content to small and mid-sized hotels and motels -- a segment of the hotel industry previously underserved and unable to offer such services to their guests. This targeted market of hotel properties with between 50 to 300 rooms, comprises over 2.4 million hotel rooms in the U.S. and represents approximately 56% of the total hotel market.
Special Note Regarding Forward-Looking Statements: Statements in this news release about anticipated or expected future revenue or growth or expressions of future goals or objectives, including statements regarding whether current plans to grow and strengthen the Company's existing business, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements in this release are based upon information available to the Company on the date of this release. Any forward-looking statements involve risks and uncertainties, including the risk that the Company will be unable to grow or strengthen its business due to a lack of capital or an inability to identify acquisition candidates and that the Company may not realize anticipated cost savings or revenue growth opportunities associated with any acquisitions, planned or otherwise. Additionally, forward-looking statements concerning the performance of the Company's business are based on current market conditions and risks, which may change as the result of certain regulatory, competitive or economic events, as well as those risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, which could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.