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Waterfront Media Names Pioneering Industry Veteran
Doug McCormick as Chairman of the Board
Brooklyn, NY
May 12, 2008
Waterfront
Media, the largest privately held online health company and the
operator of Everyday Health, announced that Doug McCormick has
been named Chairman of the Board. Mr. McCormick, who currently serves
as a Company director, brings more than 20 years of experience
in
media and the Internet, having served as Chairman and CEO of iVillage
and President and CEO of Lifetime Television Networks. He assumes
the role of Chairman of the Board from Bo Peabody, co-founder
and Managing General Partner of Village Ventures, who also remains
on
the board. Peabody served as chairman starting in 2003, a year
and half after the company was founded by CEO Ben Wolin and President
Mike Keriakos.
Mr. McCormick is currently a Venture partner with
Rho Ventures, a division of Rho Capital Partners and one of Waterfront
Media's
funders; his primary focus is on investments in the media sector.
Prior to Rho, he served as Chairman and CEO of iVillage Inc.,
where he successfully completed the sale of iVillage to NBC Universal
for over $600 million dollars. In building iVillage, he engineered
the successful merger of two public companies, iVillage Inc. and
Women.com Networks, Inc., creating the number one online media
company
for women.
During his tenure as President and CEO of Lifetime
Television Network, Lifetime was the number one women's brand in
electronic
media and
the ninth most profitable network (cable and broadcast) in the
US. In creating the branding strategy and positioning of "Television
For Women," Mr. McCormick is widely credited with raising Lifetime's
market value by more than $3 billion in five years, growing prime
time ratings by over 100 percent, quadrupling revenues, creating
a household brand name, and conceiving and launching LMN, the Lifetime
Movie Network.
"Doug is a recognized leader in new media and advertising,
and we look forward to benefiting from his experience and insight.
His management at iVillage and Lifetime transformed both media properties,
making them into the powerhouses they are today, and his experience
will be invaluable as we continue to grow Everyday Health into the
number one online health property," said Ben Wolin, Waterfront
Media's CEO and co-founder. "I also want to thank Bo Peabody
for his leadership since 2003. During the early stages of our business,
Bo was instrumental in helping us grow the company to where we are
today."
"I am looking forward to my new role with Waterfront Media.
The company has been extremely successful to date and I am eager
to assist them as they become the number one online health company," said
Mr. McCormick. "It's rare to see a company grow its audience
over 300% in one year as they did in 2007 and I know the company
has the ingredients to lead its category."
Mr. McCormick also
chairs the Board of Directors Lin TV (NYSE:TVL), is Vice Chairman
of ReelzChannel and is a member of the board of
Ovation Television, Wayport Inc, and a Trustee of the American
Management Association where he is a member of the executive committee.
Previously,
he served as a director on a number of Boards including MarketWatch.com,
Inc. (Nasdaq:MKTW) and the Ad Council.
About Waterfront Media and Everyday Health
Waterfront Media is the largest privately held online health company
and operates Everyday Health, which attracts over 14 million unique
users per month. Through its network of health, diet, fitness,
and pregnancy Web sites, including its flagship EverydayHealth.com,
Waterfront Media enables consumers to live healthier lives every
day. The company was founded by Michael Keriakos and Ben Wolin
in 2002.
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