NEW YORK, May 4, 2016 /PRNewswire/ --
CÜR Media, Inc. ("CÜR Media" or the "Company") (OTCQB: CURM) (OTCBB: CURM) today announced that Jim Urie, former President and CEO of Universal Music Group Distribution, has been appointed Executive Chairman of the Company's Board of Directors, Interim President and Interim CEO. Tom Brophy, Founder of CÜR Media, will continue to have an active role with the Company and will continue to be a member of the Board of Directors. The Company is actively looking for a permanent President and CEO.
Mr. Urie was President of Universal Music Group Distribution for 16 years, and CEO and President for 12 of those years, until his departure in early 2015. During his tenure, Urie built the distribution company that would take the lead on issues confronting the music industry, including the challenging transition to digital. Urie had been with Universal Music Group since 1996, during which time he oversaw purchases and integrations of several major acquisitions. Urie began his music career in 1972 as a college rep for CBS Records. Upon leaving CBS, he spent time at both PolyGram and Arista Records before joining Universal.
Mr. Urie, a music industry stalwart, has been recognized by Billboard Magazine as a power innovator alongside such transformative figures as Apple's Steve Jobs and Interscope's Jimmy Iovine.
"I am excited to become part of CÜR Media and to work with the team," said Jim Urie. "There is a tremendous opportunity to break new ground in the music streaming space, and I believe the CÜR Music offering is poised to do just that. Upon launch, we will be the first streaming service that brings new price points to the market and exciting ways for our customers to interact socially. I look forward to bringing this dynamic product to market."
Stated CÜR Media Founder Tom Brophy, "CÜR is a next generation music streaming service with the lowest price in the industry at $1.99 per month, properly compensating artists and providing new opportunities for the music industry. I welcome Jim to our team and look forward to working closely together."
ABOUT CÜR MEDIA INC
CÜR Media, Inc. is creating CÜR (pronounced 'cure'), a next generation social music experience, through the planned launch of CÜR Music, a social, mobile, and web streaming music application that is being designed to enable its users to go beyond the limitations of traditional music streaming services. Upon its anticipated launch, CÜR Music will unlock the truly expressive nature of an individual's connection with their music by fostering personalization, sharing and creativity. With CÜR Music it's not just about streaming, it's about what the music means to you and how you want to express that to the world. For more information please visit http://www.curmusic.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the development of a commercially viable streaming music product, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the Company's ability to negotiate and maintain economically feasible agreements with the major and independent music labels and publisher rights organizations, and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii), and (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the length of time associated with development of mobile applications and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies.
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