Dial Global Names Paul Caine CEO
Media heavyweight leaves Time Inc. Chief Revenue Officer post to lead expansion of audio as a marketing medium.
Move underscores Dial Global's commitment to deliver cross-platform marketing solutions for national advertisers.
NEW YORK--(BUSINESS WIRE)-- Dial Global, Inc. (OTC Pink: DIAL), the nation's foremost independent syndicator of audio content - supplying more than 8,500 radio stations and other distribution platforms that combine to reach more than 225 million listeners each week - announced today that Paul Caine will become its Chief Executive Officer and a member of the Company's Board of Directors, effective April 5.
Paul Caine, new CEO of Dial Global, Inc. (Photo: Business Wire)
Caine joins to create a new opportunity for Dial Global to expand the marketing and monetization of audio, starting with the Company's lineup of premier sports, entertainment and news content that includes the NFL primetime games (including the Playoffs and Super Bowl), the NCAA Men's Basketball Tournament, CBS Radio News, NBC News Radio, the NBC Sports Radio Network, and the Grammys. As mobile platforms continue to multiply the occasions for listening, the demand for premium digital audio content is growing fast. This represents a substantial, undeveloped opportunity for content providers, distribution partners and marketers alike.
"Dial Global will propel the growth of audio as the essential medium for the mobile experience," said Caine. "We have premium content, top-tier distribution, and prestigious live event assets. Our opportunity is to expand these experiences for consumers, broaden our repertoire of content partners, and integrate our on-air, digital and live event offerings to create compelling engagement for advertisers."
Caine has the experience, relationships and credibility to expand Dial Global's capabilities on both the content and marketing fronts. Over the past 23 years at Time Inc., he has led the development of digital formats for some of the world's most storied media brands. He has also created and sold highly successful multi-platform programs for many blue-chip advertisers such as Procter & Gamble, Toyota and CBS.
"The audio medium is ripe for expansion across the ever-increasing number of platforms that consumers use," said Neal Schore, Chairman of Dial Global. "Paul has the vision and experience to build audio assets into high engagement opportunities that connect marketers with consumers everywhere and on every listening platform."
Part of Caine's focus will be on activating live event sponsorships in person as well as online. Within the audio medium, Dial Global maintains exclusive rights to distribute for broadcast such prominent live events as the Grammys, the NFL primetime games (including the Playoffs and Super Bowl), and the NCAA Men's Basketball Tournament. "This is the perfect opportunity to build on the work I've done for the last 23 years with some of the most beloved media brands," said Caine, who ran Time Inc.'s Style & Entertainment Group (PEOPLE, InStyle, Entertainment Weekly, ESSENCE, People en Español and People StyleWatch) before becoming Chief Revenue Officer and Group President of the company's Advertising Group.
Caine's appointment coincides with the resignation of Dial Global's existing CEO, Spencer Brown, and President, Ken Williams, all of which will be effective April 5. Both executives intend to work with Caine to facilitate a smooth transition and will also remain shareholders of the Company. "Along with our former partner David Landau, Ken and I have taken Dial Global a long way," said Brown. "Now the Company needs a chief executive with a different skill set to steer it through its next phase of growth. We believe Paul is uniquely well-qualified to do just that."
"On behalf of Dial Global's Board of Directors, I want to thank Spencer and Ken for their significant contributions to the business," said Schore. "They have built a powerful platform that has delivered meaningful value over the years to Dial Global's advertisers, radio stations and content partners."
About Dial Global, Inc.
Dial Global, Inc. (OTC Pink: DIAL) is the nation's leading independent provider of audio content to radio stations and audio activation solutions to marketing partners. The Company delivers a broad portfolio of engaging audio content, including some of the most recognized brands in sports, entertainment, news and news/talk, to more than 8,500 radio stations and other distribution partners that combine to reach more than 225 million consumers each week. The Company also packages its on-air, digital and live event assets into integrated marketing programs for advertisers.
Note to Investors
This press release may contain certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-Q filed on November 15, 2012 and in our Form 10-K filed on March 30, 2012. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
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Fred Pfaff Inc.
Fred Pfaff, 212-572-8353
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