SunnComm hires Sony BMG guy
p2p news / p2pnet: How’s this for immaculate timing? MediaMax has hired one Kevin M. Clement as its president and ceo, a p2pnet reader tells us.
And there’ll be no hanging about. He’s to start work immediately.
Clements joins SunnComm direct from Sony BMG Music Entertainment, where he was senior director, new technology.
And it seems snake-oil pays well these days. Clements starts at a cool quarter of a million dollars a year, with a further $50K tacked on in 2008.
On top of that, he gets a “signing bonus” plus another 35 grand incentive bonus, “payable upon successful completion of certain strategic initiatives of the company”. And that’s not all. On or promptly after January 1, 2006, MediaMax is giving him 4,450,000 shares and, “In addition, the Company’s Board has granted Mr. Clement three stock options to purchase a total of 26,700,000 shares, 8,900,000 of which are exercisable at $.0425 per share, 8,900,000 of which are exercisable at $.055 per share, and 8,900,000 of which are exercisable at $.070 per share. T
Sony BMG is, of course, in very deep excreta following the discovery that it had tried to use music CDs to weasel its First4Internet DRM onto customers’ computers without their knowledge or permission.
And how about this for a timely quote.
“I am looking forward to building a world-class technology organization focused on delivering high-quality consumer friendly content protection products,” says Clements.
Vis-à-vis “consumer friendly content protection products,” SunnComm, which recently issued an angry and very public press release in response to a p2pnet spoof, was responsible for the Mac version of the stink-ware.
“The whole entertainment industry is undergoing an enormous technical transformation at this moment with tremendous potential and opportunities for our company,” says SunnComm cto Eric Vandewater.
“With the leadership and expertise of Mr. Clement, I’m convinced we will capitalize on this opportunity.”
Stay tuned. heh
Also read:-
snake-oil pays well – Form 8-K for MEDIAMAX TECHNOLOGY CORP, November 4, 2005
very deep excreta – The real p2p pirates and thieves, November 18, 2005
public press – SunnComm falls for p2pnet spoof, November 9, 2005
stink-ware – Sony BMG DRM on Macs, November 11, 2005
November 22nd, 2005 at 3:36 am
It seems to me that “consumer friendly content protection products” is at best an oxymoron and at worst like a Klein Bottle. It only exists in the mind of beholder.
November 22nd, 2005 at 4:44 am
Love your picture at top of page article!!! That sum’s it up nicely!!