SANTA CLARA, Calif. 7/5/2005 - Macrovision Corporation (Nasdaq: MVSN) today announced the appointment of Alfred J. (Fred) Amoroso as its President and Chief Executive Officer, succeeding William A. Krepick who has held the position since October 2001. Mr. Krepick has been appointed to the newly created position of Vice-Chairman of the Board of Directors. Mr. Amoroso, who has also been elected to the Board of Directors, will take over as President and CEO effective immediately.
In announcing the change, Macrovision’s Chairman and co-founder John O. Ryan said: "We are delighted to welcome Fred as our new President and CEO. Macrovision’s products and services in the software area have been generating an increasingly larger percentage of our revenues and our digital content protection and enablement solutions have become more software based. As CEO of Meta Group Inc. and before that as CEO of Crossworlds Software Inc. and General Manager of IBM’s Global Services for the Asia-Pacific region, Fred amassed a wealth of knowledge and experience in the software and technology licensing businesses that will help Macrovision continue its growth and transformation to become the leader in both Software Value Management and Content Value Management. Fred brings new expertise and a fresh perspective to guide the company in the next phase of its growth."
Ryan continued: "The issue of CEO succession at Macrovision has been a focus of our board of directors since Bill Krepick signaled a desire to step down earlier this year. The board is pleased to have found a candidate of Fred’s caliber to fill this position. Fred’s deep experience in software and customer solutions and his track record growing businesses are critical to our continued growth at Macrovision. We believe his experience in running organizations as large as $7 billion in annual sales will be particularly beneficial as Macrovision continues to pursue its aggressive growth objectives."
Fred Amoroso said: "I am very pleased to be part of a company that has been so successful over its long history and has established itself as the leading technology company in the field of Content Value Management for the entertainment industry. More recently, Macrovision has developed significant capability in the area of Software Value Management — an area that has tremendous growth potential for the industry as well as substantial value for our software publisher and enterprise customers. We will continue to expand and leverage our assets in both the entertainment and software businesses."
Referring to outgoing CEO Bill Krepick, Ryan added: "The board of directors and our employees and stockholders alike owe a debt of gratitude to Bill for his tireless efforts in growing the company — first as President and COO and later as President and CEO. From a privately held purveyor of analog video copy protection technology, Bill led Macrovision to become an international public company that today is the leader in a range of businesses focused on intellectual property protection and software value management in the evolving digital world. His contributions to the company’s growth can hardly be overstated. Bill’s legacy — for Fred to build on — is a strong reputable company with enviable profitability, a range of best-of-breed products, a who’s-who of customers in the entertainment, software publisher and enterprise areas and a strong cash position. From his position as Vice-Chairman, Bill will work closely with Fred to ensure a smooth transition and will also take on various assignments to support the growth of the Company."
Bill Krepick commented: "I think the timing of this CEO succession is ideal. Fred is taking the helm of a profitable and expanding company that is strategically well-positioned for continued growth, with a strong and seasoned management team. Fred brings to Macrovision the perspective and experience to lead the company to the next level as we scale our businesses in both the software and entertainment value management space. I look forward to being a very active Vice-Chairman, available to work day-to-day with Fred to ensure a smooth transition and assist him with critical strategic and tactical programs."
The company will hold a conference call for analysts and investors at 5:00 PM ET on July 5th to answer questions related to Mr. Amoroso’s appointment as CEO. Mr. Ryan, Mr. Amoroso and Mr. Krepick will represent the company on the call. Investors and analysts interested in participating in the conference are welcome to call 800-218-0713 (or international +1 303-262-2142) and reference the Macrovision Analyst call.
Investors and analysts interested in listening to a recorded replay of the conference are welcome to call 800-405-2236 (or international +1 303-590-3000) and enter passcode 11033926#. Access to the replay is available through July 6, 2005.
About Macrovision Solutions Corporation
Macrovision Solutions Corporation is focused on providing a uniquely simple digital home entertainment experience by delivering solutions to businesses to protect, enhance and distribute digital goods to consumers across multiple channels. Macrovision's technologies are deployed by companies in the entertainment, consumer electronics, cable and satellite, and online distribution markets to solve industry-specific challenges and bring greater value and a more robust user experience to their customers. The result of deploying Macrovision's solutions is a simple end user experience for discovering, managing and enjoying digital content. Today, Macrovision provides connected middleware, media recognition, interactive programming guides, copy protection and rich media, data and metadata on music, games, movies and television programming. The company also operates an entertainment portal which can be found at http://www.allmusic.com/. Macrovision holds over 4,100 issued or pending patents and patent applications worldwide.
Macrovision is headquartered in Santa Clara, California, with numerous offices across the United States and around the world including Japan, Hong Kong, Luxembourg, and the United Kingdom. More information about Macrovision can be found at http://www.macrovision.com/.
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Forward Looking Statements
All statements contained herein that are not statements of historical fact, including statements that use the words "will" or "is expected to," or similar words that describe the Company's or its management's future plans, objectives, or goals, are "forward-looking statements" and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in the Company's most recent quarterly report on Form 10-Q for the period ended September 30, 2008 and such other documents as are filed with the Securities and Exchange Commission from time to time (available at http://www.sec.gov/). The Company assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
