LOS ANGELES, April 19, 2011 /PRNewswire/ -- NeuMedia, Inc. (OTC BB: MNDL), a leading global mobile data services provider, today announced the addition of Jack Schneider, formerly Managing Director of Allen & Co. LLC, to its Advisory Board.
Mr. Schneider was a Managing Director for more than 34 years at Allen & Co. LLC, the premier investment house in the media and entertainment sector. He has also been on the Board of the National Mentoring Partnership for 12 years, and he has served as Chairman of the Buoniconti Fund to Cure Paralysis for 25 years.
"I am thrilled to join the NeuMedia Advisory Board," Mr. Schneider commented. "With the restructuring and key senior hires at the Twistbox operating subsidiary, along with exploding market opportunities in all business segments, I believe NeuMedia is very well positioned for strong growth in the emerging mobile data services space. I look forward to witnessing firsthand the company's progress in coming years."
Leveraging the operations of Twistbox, NeuMedia has established a mobile services platform that leads the industry in mobile content distribution, advertising, billing, and social games for prizes, which will all benefit from phenomenal growth of mobile internet users worldwide. Gartner projects that mobile advertising alone will more than double this year to $3.3 billion and grow to $20.6 billion worldwide by 2015.
"Jack Schneider's addition to the NeuMedia team brings an unparalleled level of experience and relationships to our enterprise at a time when mobile will become the defining term for user valuation for audiences, artists, producers, and consumers," commented Peter Guber, Director of NeuMedia. "Jack's wealth of M&A experience from Allen & Co. and his long-term relationships with other leaders in the media and entertainment community will open doors to new opportunities for NeuMedia, particularly as we look to add new products and services to our current portfolio of mobile data service offerings."
About NeuMedia, Inc.
NeuMedia is at the convergence of internet media content and mobile communications. It is the parent company of Twistbox Entertainment, a mobile services company that works with mobile operators and third-party publishers to provide portal management, content development and billing technology that enables the responsible distribution of mobile entertainment. NeuMedia is headquartered in Los Angeles and has offices in Europe and Latin America to support global sales and marketing.
Forward Looking Statement
Statements in this news release concerning future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. These factors include uncertainties as to levels of orders, ability to record revenues, release schedules, market acceptance of new products, changes in economic conditions and market demand, pricing and other activities by competitors, and other risks including those described from time to time in the Company's filings on Forms 10K and 10Q with the Securities and Exchange Commission (SEC), press releases and other communications.
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SOURCE NeuMedia, Inc.
Released April 19, 2011