Red Mile Entertainment Restructures Operations; Appoints Simon Price as President
05 Mars 2008 - 3:00PM
Marketwired
SAUSALITO, CA , a worldwide developer and publisher of
interactive entertainment software, today announced that it is
restructuring its operations.
"We are going through a significant reorganization and changing
our product distribution strategy," said Chester Aldridge, CEO. "We
are restructuring our operations to substantially reduce operating
costs and optimize our distribution model so that we can deploy a
greater proportion of our capital into product development and
maximize the value of the properties we own or control."
As part of the restructuring process, Red Mile has appointed
Simon Price as its new President. Mr. Price replaces Glenn Wong,
who resigned from the Company effective February 29, 2008. Mr.
Price has served Red Mile in a consulting role since the company's
formation in 2004. He has assisted the company in its efforts to
identify and secure rights to key franchise titles, and has
provided support on product development strategy. As part of the
restructuring plan, the Company's Chief Financial Officer, Ben
Zadik, resigned effective March 1, 2008, but will remain with the
company in a consulting role for at least the next 60 days.
"Red Mile is at a critical stage in its progression as a
publisher of world-class game franchises," said Mr. Price. "We are
making changes to streamline costs while increasing our focus on
the development of high-quality games. I am excited to have the
opportunity to work with Chester and the Red Mile team during this
transition."
Prior to joining Red Mile, Mr. Price was a market analyst with
International Development Group, a video game consulting company
based in San Francisco, California, where he consulted for leading
video game publishers, hardware manufacturers, retailers and
investment banks. Mr. Price remains on the IDG advisory team.
About Red Mile Entertainment, Inc.
Red Mile Entertainment, Inc. is a worldwide developer and
publisher of interactive-entertainment software. Red Mile creates,
incubates, and licenses premier intellectual properties and
develops products for console video-game systems, personal
computers, and other interactive entertainment platforms. For more
information about Red Mile Entertainment, Inc. please visit our web
site at http://www.redmileentertainment.com.
Media Contact Todd Weimer 415-328-3242
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