Private Media Group Inc. (PRVT) News

BARCELONA, Spain, April 24 /PRNewswire/ -- Private Media Group, Inc. (Nasdaq: PRVT), a worldwide leader in premium quality adult entertainment content, today announced the appointment of Ilan Bunimovitz as CEO. Mr. Bunimovitz will be replacing Berth Milton as CEO, who will continue to serve as President and Chairman of the Board. In connection with the appointment, Peter Cohen, COO since November 2006, is leaving the Company.

Ilan Bunimovitz has been Executive Vice President of Private's Online Media Division since January 2009 when Private acquired San Francisco based GameLink LLC, a leading US adult retail portal and eCommerce provider founded by Bunimovitz in 1993. Mr. Bunimovitz is also a member of the Board of Directors and a major shareholder of the Company. His appointment as CEO is effective immediately and he will be dividing his time between Private's European and US operations.

Berth Milton, President and Chairman of the Board commented: 'We are delighted with the appointment of Ilan as CEO. Ilan is one of the great pioneers of adult entertainment online and his track record speaks for itself. Over the past two years, Private has been significantly changing its business model and adapting its products for new media. The acquisition of GameLink in January has accelerated this change and incorporated major online retail assets and digital expertise into Private. With Ilan, a leading authority on new media adult content management and distribution, I am confident that Private will complete its transition to new media by successfully melding high class international adult content with cutting edge digital commercialization via online, wireless and broadcast. I welcome Ilan to Private and wish him the very best.'

Mr. Milton added: 'At the same time, I would like to thank Peter Cohen for his work as COO. Peter honed Private's digital strategy, which generated significant growth in new media and integrated GameLink into the Group.'

Ilan Bunimovitz, CEO of Private Media Group, commented: 'I am delighted to be taking up the challenge of leading Private. The Company's brand equity and premium quality content makes Private a natural leader in the adult entertainment industry. My background from the constantly evolving online business fits comfortably with managing the Company's continuing transition to new media and I am very excited about further developing Private's leading position across all distribution platforms.'

About Private Media Group

With its 44-year track record, NASDAQ listed Private Media Group is a brand-driven world leader in adult entertainment, distributing premium quality adult content globally via multiple platforms, including broadcasting (cable, satellite, IPTV and DTT), mobile, Internet, as well as DVDs and print publications. Private Media Group owns the worldwide rights to its extensive archive of high-quality content, and also licenses its Private and 'Silver Girls' trademarks internationally. Private's acquisition of San Francisco-based GameLink LLC and its related companies in January 2009 further increased the Group's digital technology development capabilities and online retail reach. Established in 1993, GameLink is a leading adult Internet retail site, focusing on the digital distribution of adult media and merchandise delivered through its retail website. It is the third largest VOD platform in the US, and currently offers over 70,000 movies in all major formats. The Company has established an industry-leading reputation for innovative online retail and eCommerce solutions. Visit prvt.com and gamelink.com for more information.

Disclaimer

This release contains, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgments of those issues. However, because those statements are forward-looking and apply to future events, they are subject to such risks and uncertainties, which could lead to results materially different than anticipated by the Company.

    For further information please contact:
    Private Media Group Press Office
    Tel +34 915 312 388
    privatepressoffice@grupoalbion.net

    Simon Jordan
    Marketing Department
    Private Media Group Tel +34 936 208 090 simon.jordan@private.com

SOURCE Private Media Group