Frank Dileo Named CEO of ValCom; Formerly Michael Jackson's Manager
ValCom, Inc. (PINKSHEETS: VLCO) announced today the appointment of Mr. Frank Dileo, Michael Jackson's former manager and entertainment industry veteran, to serve as the company's new President and Chief Executive Officer. Mr. Dileo replaces Mr. Vince Vellardita who will remain as Chairman of the Board.
"I am thrilled to have a veteran of Mr. Dileo's expertise and experiences join the ValCom team," stated Mr. Vellardita, former President and CEO of ValCom. We look forward to Mr. Dileo taking charge and implementing the company's business plan. Mr. Dileo will be an asset to the company and bring shareholder value to the stakeholders of the company".
Mr. Dileo said, "I am very excited to lead current management in taking ValCom to the top of its industry. Opportunities like this do not come along very often."
About Mr. Dileo:
Mr. Dileo began his music industry career as a sales representative and promotion executive for CBS Records in 1968. His success continued in the 70s while working promotion stints at RCA Records, and then at country music powerhouse Monument Records in Nashville. In 1979, Frank joined Epic Records in New York as Vice President of National Promotion where the legend began. Overseeing a staff of 65 people and a multi-million dollar budget, Frank helped guide Epic Records from a small 65 million dollar company to a 250 million dollar powerhouse. The list of successes included Cyndi Lauper, Culture Club, Quiet Riot, Ozzy Osborne, REO Speedwagon, Survivor, Gloria Estefan, Stevie Ray Vaughn, Molly Hatchet, Heart, Luther Vandross, and the "King of Pop," Michael Jackson.
While at Epic, Frank oversaw the plans that helped create the largest selling album in music history with over 45 million sold worldwide. He was voted executive of the year for Epic Records, received over 80 gold and platinum awards, and was credited for taking Epic Records from the number fourteen label in the U.S. market to number two.
After this tremendous success, Mr. Dileo became Michael Jackson's manager directly responsible for managing all professional aspects of Michael Jackson's career relating to performances, film, commercials and videos. Mr. Dileo executive produced the full-length movie "Moonwalker" starring Michael Jackson. He wrote and executive produced three Pepsi-Cola commercials (including negotiating a landmark endorsement deal), and eight music videos including the Grammy winning video "Leave Me Alone."
Mr. Jackson decided to tour the world during the release of his "Bad" album while Mr. Dileo oversaw all aspects which, to date, became the largest grossing tour of all time. He also directed all aspects of the Jackson family's "Victory" tour of arenas, an unprecedented accomplishment for its time.
Mr. Dileo also managed the careers of Taylor Dayne, Jodeci, Laura Branigan, and Bon Jovi guitarist Richie Sambora, and has worked with Prince on several groundbreaking projects.
Mr. Dileo has since been a consultant to the entertainment industry, appearing personally in three major motion pictures. His film credits include GoodFellas, Wayne's World I & Wayne's World II and Moonwalker). Mr. Dileo has also appeared on many major and cable network shows as well as being quoted in the mainstream media and industry periodicals.
Mr. Dileo currently heads Dileo Entertainment Group, a music management company in Nashville, Tennessee.
About ValCom:
ValCom currently operates 200,000 square feet of production studios in Burbank, Ca. and Las Vegas, Nevada. ValCom has a film and television library of 143 movies and 10 television shows as well as an animation subsidiary located in Ireland. ValCom is a minority owner of a Television station in Palm Springs, Ca.
Based in Los Angeles, California, ValCom, Inc. is a diversified and vertically integrated, independent entertainment company. ValCom, Inc., through its operating divisions and subsidiaries, creates and operates full service facilities that accommodate film, television and commercial productions with its four divisions comprised of: studio, film and television, live theater production, and broadcast television. ValCom's clientele list consists of all of the majors such as MGM, Paramount Pictures, ABC, CBS, Sony, NBC, BET, MTV.
Contact:
Frank Dileo
615-244-9599
Investor Relations
Ten Associates, LLC
Tom Nelson
480-326-8577
Web Site: www.valcom.tv
Source: Market Wire (September 25, 2007 - 11:53 AM EST)
