Roxio Appoints CEO Chris Gorog as Chairman of the Board
Toast 5 Titanium First To Allow DVD Video and Video CD Recording Within The OS X Environment
Milpitas, Calif, September 27, 2001 - Roxio, Inc. (Nasdaq:ROXI), the Digital Media Company, today announced that Chris Gorog, president and chief executive officer, has also been appointed the role of chairman of Roxio's board of directors. Gorog is joined on Roxio's board by Rick Boyko, co-president of Ogilvy & Mather, Joe Kaczorowski, chief financial officer of House of Blues (HOB) Entertainment and Rob Rodin, chief executive officer of eConnections.
Mr. Gorog, age 48, joined Roxio in September 2000. Since his arrival, Roxio completed its spin off from Adaptec and became listed on the Nasdaq, reported record fiscal 2001 revenues and proforma profits, entered into a strategic alliance with music giant EMI Recorded Music, and launched a major consumer branding campaign with extensive broadcast and print advertising.
Roxio, makers of the best-selling CD recording/digital media software in the world, distinguished itself during the last year, by posting record financial results and strong profitability during a period when the technology sector has suffered. For its fiscal year ended March 31, 2001, Roxio posted record revenues of $122 million and pro-forma net income of $23.9 million. In its first quarter as a public company, which ended June 30, 2001, Roxio substantially beat analyst expectations by posting $37 million in revenues and $7.2 million in pro-forma net income.
"We have just completed a year of team building, both at the board level and throughout Roxio's senior management," said Chris Gorog, president and chief executive officer. "The company now has a very strong foundation in place to expand on our leadership in digital media."
Prior to joining Roxio, Mr. Gorog served as President of New Business Development for Universal Studios Recreation Group and as Executive Vice President of Group Operations. On his departure from Universal, Mr. Gorog participated in the acquisition of Universal Concerts by House of Blues (HOB) Entertainment and became a member of HOB's board of directors. Before joining Universal, he served as President and Chief Executive officer of the worldwide motion picture and television production company, ITC Entertainment Group. Prior to ITC, Mr. Gorog served in various capacities at the Walt Disney Company including Vice President of Business Affairs where he oversaw deal making for both the film and television divisions. Mr. Gorog received his Bachelor of Arts and Sciences in Telecommunications from San Diego State University. He is a member of the Young Presidents' Organization and the Academy of Motion Pictures Arts and Sciences.
Roxio, a division of Sonic Solutions, develops and markets the best-selling digital media software in the world. Roxio offers
award-winning software products for CD/DVD burning, photo editing and video editing and has an installed base of over 150 million
users. Roxio distributes its products globally through strategic partnerships with major hardware manufacturers, through leading
retailers, through Internet partnerships and through direct sales at www.roxio.com. Roxio's
parent company, Sonic Solutions (NASDAQ: SNIC;
http://www.sonic.com) is the leader in digital media software and provides a broad range of software
tools and applications for creative professionals, business and home users and technology partners. Sonic's products range from professional
DVD authoring systems and interactive content delivery technologies that are used to produce the majority of Hollywood movies released on DVD,
to the award-winning Roxio- and Sonic-branded CD and DVD creation, playback and backup applications that have become the premiere solutions
for consumers and business users worldwide. Sonic's AuthorScript® is the de facto standard for CD and DVD burning and formatting and has
been licensed by major software and hardware manufacturers, including Adobe, Broadcom, Microsoft, Scientific-Atlanta, Sony, and many others.
Sonic Solutions is headquartered in Marin County, California.
Sonic, the Sonic logo, Sonic Solutions, Roxio, MyDVD, CineMagic, Plug & Burn, LiveShare, Roxio Easy Media Creator, and
AuthorScript are trademarks or registered trademarks of Sonic Solutions or its subsidiaries in the United States and/or other
countries. Dolby is a trademark of Dolby Laboratories. All other company or product names are trademarks of their respective
owners and, in some cases, are used by Sonic Solutions under license. Specifications, pricing and delivery schedules are subject
to change without notice.