SOURCE: Madison Ave. Media, Inc.

December 03, 2010 07:00 ET

World Class Business Development and Financial Management Executive Joins Madison Ave. Media Advisory Board

James Bernard "Bernie" Rice Adds Impeccable Credentials and C-Level IBM Experience to the Board

BOCA RATON, FL--(Marketwire - December 3, 2010) - Madison Ave. Media, Inc. (OTCBB: KHZM), today announced that Bernie Rice has joined its Advisory Board, bringing his Internationally respected experience and expertise to corporate leadership as the company continues its rapid growth.

Madison Ave. Media Chairman Stephen Molinari commented, "Bernie has been a trusted friend and advisor since the company was founded. Knowing that he will continue that role plus expand his involvement with our Madison Ave. Media Advisory Board is a tremendous asset to the company."

Mr. Rice began his career with IBM in sales and held various sales leadership positions until 1983 when he entered IBM's finance fraternity. His work in business case structure and portfolio analysis led him to a role as IBM's Finance Director for Application Software in 1985. He was promoted several times that by 1989 he was appointed Director of Finance, Planning and Administration for IBM's Southern Area. In that role, Mr. Rice was responsible for the staff functions of a $3 Billion business and he was instrumental in positioning IBM's Southeast Region as the leader in billable services.

Mr. Rice became Chief Financial Officer and General Partner for the IBM Venture Capital Group in 1993 and then Vice President of Business development for IBM's Consumer Division in 1998. There he managed projects like IBM's partnership with Berkshire Hathaway and Hallmark for the development of its breakthrough on-line research and learning platforms.

Mr. Rice also served as CEO of Edmark Inc, the IBM subsidiary that developed innovative educational software for children. In 2000, he orchestrated the spin-off of IBM's education content assets into Riverdeep Inc. and he contributed to Riverdeep becoming the fastest growing educational software company in the nation. Today Riverdeep has educational products in some 45,000 schools in over 20 countries.

In late 2003, Mr. Rice left Riverdeep and co-founded Best Practice Networks Inc. Today Best Practice Networks is a leading innovator of easy-to-use on-line learning technology for K-12 students and adult career education students. Mr. Rice is currently also creating dedicated companies and partnerships to scale the success of these technologies. For example, he recently co-founded Educational Partners, which now markets educational software and workbooks in 20 languages for children 3 to 9 years of age.

It was in the context of seeking to build such partnerships that Mr. Rice entered discussions with Globe-Allianz LLC. These discussions led to the idea of employing the Globe-Allianz platforms to build affordable but smart homes and communities for the disadvantaged, both in the United States and overseas; and to use endowment and government funding to bring technology enhanced advanced educational services for both children and adults around the world.

In 2008, the Globe-Allianz Development Group was formed and Globe-Allianz committed itself to the philanthropic educational programs being suggested by Mr. Rice. The quid pro quo was that he became a Partner and the Chief Financial Officer of the Globe-Allianz Development Group.

About Madison Ave. Media
Madison Ave. Media, Inc. is an advanced digital media company that provides products and services that connect traditional media with digital and organic media exposure opportunities. Our integration of branding, marketing and communications into the ever changing digital media space includes extensive data base aggregation and targeting, forward-looking mobile messaging capabilities, highly deliverable E-mail service solutions, evolving digital media technologies including Social Media and Search Engine Marketing plus business intelligence analysis systems that keep client promotional objectives on target and on budget.

Caution Concerning Forward-Looking Statements: This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Madison Ave. Media's ability to improve their services, create new business models and content-owner opportunities, integration plans, the expected timing for the closing of the acquisition and the plans to operate Firefly independently. These statements are based on the current expectations or beliefs of management of Madison Avenue Media, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to (1) changes in economic, business, competitive, technological and/or regulatory factors, (2) failure to receive regulatory approval for the acquisition, (3) failure to compete successfully in this highly competitive and rapidly changing marketplace, (4) failure to retain key employees, (5) other factors affecting the operation of the respective businesses of Madison Ave. Media. More detailed information about these factors may be found in filings by Madison Ave. Media, as applicable, with the Securities and Exchange Commission, including their respective most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Madison Ave. Media is under no obligation to, and expressly disclaims any such obligation to, update or alter their respective forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information

  • Contact:
    To arrange an interview with Chairman Stephen Molinari, please contact:

    Dan Lancer
    561-549-3112
    danl@madisonavemedia.com