LiveXLive Media Appoints Patrick Wachsberger to its Board of Directors
LiveXLive Media Inc. (NASDAQ: LIVX) ("LiveXLive"), a global digital media company focused on live entertainment, today announced the appointment of Patrick Wachsberger to its Board of Directors, effective January 25, 2019. Mr. Wachsberger was also appointed to the Compensation Committee of the Board of Directors.
Mr. Wachsberger is the founder and CEO of Picture Perfect Entertainment LLC, a film and television production and distribution studio, and the Co-Chairman of Picture Perfect Federation, a joint venture with France's Federation Entertainment that will develop and produce premium TV series for US broadcasters, streaming services and international co-productions.
Mr. Wachsberger previously served as the Chairman of the Motion Picture Group of Lionsgate, where he oversaw all aspects of Lionsgate's feature film production, acquisition and worldwide distribution. In that capacity, Mr. Wachsberger was responsible for leading Lionsgate's motion picture business around the world, driving the international success of films such as Twilight, the Hunger Games franchise, La La Land and John Wick. He joined Lionsgate in 2012, following Lionsgate's acquisition of Summit Entertainment, which Wachsberger launched in 1993. During his tenure at Lionsgate, the company's feature film slate generated $10 billion at the global box office. Mr. Wachsberger was recognized as a "Game Changer" at the 2016 Zurich Film Festival, awarded the prestigious "Chevalier des Arts et Lettres" by the French Minister of Culture in 2017 and received CineEurope's International Distributor of the Year Award in 2018.
"Patrick's appointment to our board underscores our commitment to extraordinary original content, seamless worldwide distribution, and international growth," said Robert Ellin, Chairman and CEO of LiveXLive. "I am thrilled to have an executive of Patrick's caliber join our Board of Directors."
"I'm so excited to work with LiveXLive, a company on the cutting edge of entertainment and technology and look forward to working with Robert and the Board in guiding the company's expansion," added Mr. Wachsberger.
Mr. Wachsberger joins other LIVX directors, including Craig Foster, former CFO of Amobee; Jay Krigsman, EVP and Asset Manager of the Krausz Companies; Tim Spengler, President of Dentsu Aegis; Jerry Gold, LIVX Chief Strategy Officer and former CFO of Warner Music; Ramin Arani, former portfolio manager at Fidelity Investments, and LIVX chairman, CEO and co-founder Rob Ellin.
