Board Changes

1 Aug 2011 07:00

1 August 2011 Parallel Media Group PLC ("PMG" or the "Company") Board Change

PMG, a sports media and digital agency, announces that Stewart Mison has stepped down as Managing Director.

It is intended that Mr Mison will continue to work with the Company in a consultancy capacity, leveraging his experience in digital solutions to assist the Company's new smart media division with a particular focus on the children's entertainment market.

In addition, the Company is pleased to announce that Chris Akers has joined the Group. Chris will oversee the company strategy and investor relations, as well as the development of the new Parallel Smart Media subsidiary. Chris has extensive experience of managing a number of public and private companies in both sports and media sectors. In March 1999, he founded the Sports Internet Group for £25,000, an AIM listed sports content and bookmaking group, before selling it to BSkyB in July 2000 for £301 million. Shortly after he co-founded Sports Resource Group, he listed the company on AIM. In 2002, Chris was voted UK's Sports Entrepreneur of the Year.

Commenting on the news, Chairman, David Ciclitira, said:

"We are very pleased to have attracted such a leading player in the sports media industry. This is testament to the reputation of the Company and to the growth potential of our new Parallel Smart Media Division. The Board would like to extend its thanks to Stewart for his time with the Company and it looks forward to a continued working relationship with him whilst wishing him well in his other endeavours."

-End-

For further information, please contact:

Parallel Media Group plc 020 7225 2000

David Ciclitira, Charles Wale

Northland Capital Partners Limited 020 7796 8800Luke Cairns, Edward HuttonNovus Capital Markets Limited 020 7107 1881Nicholas LeeBishopsgate Communications 020 7562 3350Deepali Schneider, Natalie Quinnpmg@bishopsgatecommunications.com