Magic Lantern Group Begins Comprehensive Restructuring of Management for the Future
18 November 2003 - 1:00AM
PR Newswire (US)
Magic Lantern Group Begins Comprehensive Restructuring of
Management for the Future - Appoints Seasoned Financial and
Operations Executive as President and CEO - NEW YORK, Nov. 17
/PRNewswire-FirstCall/ -- Magic Lantern Group, Inc. , a leading
North American distributor of educational content and e-learning
delivery with licensing operations in Canada and the U.S.,
announced today that at the Company's Board of Directors meeting
held November 4, 2003, they appointed Robert A. Goddard as its new
President and Chief Executive Officer. Mr. Goddard is a seasoned
financial and operations executive, with progressive experience
ranging from Fortune 500 to emerging- growth high-technology
companies. Magic Lantern Group Chairman of the Board Howard Balloch
stated, "By placing Mr. Goddard into the role of CEO and President,
we can best leverage Mr. Goddard's strengths as a corporate
visionary. Mr. Goddard brings decades of management expertise with
a full range of responsibilities, including public company and
capital markets experience, operations, corporate finance,
strategic business planning and channel partnership development.
The management team and Board are fully confident in Mr. Goddard's
ability to identify Magic Lantern's key business drivers and
execute strategies for continued growth." Magic Lantern Group's
President and CEO Robert Goddard stated, "I am extremely pleased to
be selected by the Board to spearhead the development of Magic
Lantern's top-notch management team. Magic Lantern Group continues
to evolve as an exciting video educational services company, with
tremendous opportunities in the digital video streaming arena. I
look forward to developing a renewed strategic plan for growth in
the coming months." Prior to joining Magic Lantern Group, Mr.
Goddard was Chief Financial Officer of LocatePLUS Holdings Corp.,
an early-stage technology company. Under Mr. Goddard's direction,
LocatePLUS raised more than $20 million in private equity and
completed the only New England high tech corridor IPO in 2002. Mr.
Goddard's impressive background includes prior executive posts
within high technology and financial services companies. About
Magic Lantern Group, Inc. Magic Lantern Group, Inc. is a leading
North American learning video distributor with licensing operations
in North American and world markets. Through its video streaming
technology business and its specialized "video indexing"
subsidiary, Sonoptic Technologies Inc., the Company currently
serves more than 9,500 schools and libraries throughout Canada and
soon in the U.S. In addition to distributing more than 40,000
school curriculum-relevant video titles from over 300
world-renowned producers including Disney, Schlessinger Media,
Annenberg/CPB & Dorling Kindersley, Magic Lantern is
penetrating the institutional market with Magic Lantern InSite(TM).
Magic Lantern InSite provides teachers and students on-demand,
interactive access to an expanding video collection of over 1,300
program titles and nearly 14,000 video objects. The Company is
concurrently reaching the consumer market with TutorBuddy(TM), its
proprietary e-learning system that provides children with online
access to learning video programs used in schools across North
America. For more information on the Company, visit
http://www.magiclantern.ca/. For more information: For investor
relations, contact Gary Geraci, National Financial Network,
781-444-6100 ext. 629, email: . Also visit
http://www.nfnonline.com/gml. At the Company, contact Bob Goddard,
Magic Lantern Group, Inc., 905-827-2755 ext. 454, . Also visit
http://magiclantern.ca/. This Press Release contains certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The company has tried,
whenever possible, to identify these forward-looking statements
using words such as "anticipates," "believes," "estimates,"
"expects," "plans," "intends," "potential" and similar expressions.
These statements reflect the company's current beliefs and are
based upon currently available information. Accordingly, such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which could cause the company's
actual results, performance or achievements to differ materially
from those expressed in or implied by such statements. The company
undertakes no obligation to update or advise in the event of any
change, addition or alteration to the information catered in this
press release including such forward-looking statements.
DATASOURCE: Magic Lantern Group, Inc. CONTACT: Gary Geraci of
National Financial Network, +1-781-444-6100 ext. 629, ; or Bob
Goddard of Magic Lantern Group, Inc., +1-905- 827-2755 ext. 454,
Web site: http://www.magiclantern.ca/
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