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​CME Names Stanley Fertig Senior Vice President Acquisitions and Business Development

06.20.03

Founder of Viva Joins Global CME Team

NEW YORK, June 20, 2003, -Columbia Music Entertainment, Inc. (CME) today named Stanley Fertig as Senior Vice President of Acquisitions and Business Development. Mr. Fertig, a leading music industry corporate development executive, will head up the company's worldwide acquisition and business development activities. In addition to its Japanese music holdings, the Tokyo-based CME owns Savoy Jazz and the newly acquired assets of 32 Records in the United States. Fertig will report to Strauss Zelnick, Chairman and CEO of CME.

"We are delighted to have an entertainment executive of Stanley Fertig's stature join the CME management team," said Mr. Zelnick. "Stanley will help CME continue its aggressive global expansion, just as he helped build Time Warner's international business throughout the 1990s."

Fertig joins CME in the course of a long and distinguished career in both music and television. Best known as the founder of VIVA, the highly acclaimed German music television channel, Fertig began his career as a partner at Cheverny Associates, an international investment banking firm. He joined Time Warner in 1992. As vice president of Time Warner International, Fertig spearheaded the creation of VIVA, while assisting in the launch of n-tv, Germany's news network. He also won the broadcast license and assembled the partnership group for Hamburg-1, the first local television channel in Germany's second-largest city.

In 1994, Fertig moved to Warner Music Group as vice president, strategic planning and business development. In that capacity, he negotiated agreements with four other major entertainment companies to create Channel [V], the leading music television service in Asia. In 1995 he was named senior vice president, International Television. In 1997, Fertig oversaw the creation of Z+, the Hungarian cable and satellite music television channel. In 1998 Fertig was named senior vice president, international business development for Time Warner's core recorded music business.

At year-end 1999, Fertig left Time Warner to found SDCi Limited, a provider of B2B services for the entertainment industry in Europe. He and his partners sold SDCi to Media Content PLC, a British sports agency, in 2001, where Fertig remained as CFO through 2002.

Fertig has served on the Boards of Directors of Media Content Plc, VIVA, Channel [V], Z+, Music Choice Europe and the Paris-based investment fund Com2i. He holds a B.A. degree from Columbia College, an M.A. from New York University, and MBA from the Yale School of Organization and Management, and a PhD from Harvard University. He will continue to be based in New York City.