NTN Buzztime, Inc. CEO to Step Down; Will Remain Active on the Board of Directors
15 Januar 2010 - 2:30PM
PR Newswire (US)
CARLSBAD, Calif., Jan. 15 /PRNewswire-FirstCall/ -- NTN Buzztime,
Inc. (NYSE Amex: NTN) today announced that Terry Bateman, Chief
Executive Officer, has announced his intention to resign. Mr.
Bateman will remain active on the Board of Directors and be
involved in finding his replacement. The Board of Directors has
established a CEO Selection Committee to fill the CEO role, has
engaged an executive search firm to assist them in the
identification and selection of a new CEO, and expects this process
to be completed in the second quarter of 2010. (Logo:
http://www.newscom.com/cgi-bin/prnh/20080331/CLM183LOGO) "We have
made considerable progress towards achieving our operating
objectives, and I continue to believe in the fundamental strength
of the business," said Terry Bateman. "I am stepping down for
personal reasons, but will remain on the Board of Directors to help
oversee the strategic initiatives put in place over the last year,
and I will also participate in the search for my successor, in
order to ensure a smooth transition. I remain confident in the
Company's continued success." "Terry has been instrumental in the
turnaround of NTN Buzztime's business and has been a tremendous
leader," noted Chairman Jeff Berg. "The positive effects that Terry
has had on the business are substantial, as underscored by our
performance in the fourth quarter of 2009, which is expected to
show EBITDA higher than any recorded in the past six quarters, as
well as positive cash flow. While we are disappointed to see him
leave, we understand and respect his decision, and look forward to
his participation as an active, non-executive member of the Board,
where his advice and judgment, informed by his tenure as CEO, will
be tremendously valuable." About NTN Buzztime, Inc. NTN Buzztime,
Inc., a leader in interactive entertainment for more than 20 years,
is based in Carlsbad, CA. Buzztime is distributed in-home and
out-of-home across broadband platforms including online, cable TV,
satellite TV and in approximately 4,000 restaurants, sports bars
and pubs throughout North America. Buzztime entertainment is also
available on electronic games and in books. For more information,
please visit http://www.ntn.com/. Buzztime is a registered
trademark of Buzztime Entertainment, Inc. and Playmaker is a
registered trademark of NTN Buzztime, Inc. Forward-looking
Statements This release contains forward-looking statements which
reflect management's current views of future events and operations.
These statements are based on current expectations and assumptions
that are subject to risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties include
the risk of changing economic conditions, failure of product demand
or market acceptance of both existing and new products and services
and the impact of competitive products and pricing. Please see NTN
Buzztime, Inc.'s recent filings with the Securities and Exchange
Commission for information about these and other risks that may
affect the Company. All forward-looking statements included in this
release are based on information available to us on the date
hereof. These statements speak only as of the date hereof, and NTN
Buzztime, Inc. does not undertake to publicly update or revise any
of its forward-looking statements, even if experience or future
changes show that the indicated results or events will not be
realized. COMPANY CONTACT: Kendra Berger Chief Financial Officer
NTN Buzztime, Inc. (760) 438-7400 CCG CONTACT: Mark Collinson
Senior Partner CCG Investor Relations (310) 954-1343
http://www.newscom.com/cgi-bin/prnh/20080331/CLM183LOGO
http://photoarchive.ap.org/ DATASOURCE: NTN Buzztime, Inc. CONTACT:
Kendra Berger, Chief Financial Officer of NTN Buzztime, Inc.,
+1-760-438-7400; or Mark Collinson, Senior Partner of CCG Investor
Relations, +1-310-954-1343, for NTN Buzztime, Inc. Web Site:
http://www.buzztime.com/ http://www.ntn.com/
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