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Form 8-K REALNETWORKS INC For: Sep 19

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September 19, 2016 5:05 PM EDT


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) September 19, 2016
 
RealNetworks, Inc.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
 
 
Washington
 
000-23137
 
91-1628146
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification No.)
1501 First Avenue South, Suite 600
Seattle, Washington 98134
(Address of principal executive offices) (Zip code)
(206) 674-2700
Registrant’s telephone number, including area code
Not Applicable
(Former name or former address if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 






Item 8.01. Other Events.
On September 19, 2016, RealNetworks, Inc. announced that William J. Patrizio joined RealNetworks as President, Consumer Media.
Mr. Patrizio is managing director at Opaka Partners, a consulting firm that he founded in 2013 that provides advisory services to management and investors in the technology, media and telecom industries. Previously, from January 2009 to October 2012, Mr. Patrizio served as chief executive officer and as a member of the board of directors of Red Bee Media, a creative, broadcast, and digital media software and services company based in the U.K., which was sold to Ericsson (NASDAQ: ERIC) in May 2014. From November 2007 to December 2008, he was president of the broadcast services division of Technicolor SA, a French corporation providing products and services for the communications, media, and entertainment industries, which division was sold to Ericsson in July 2012. Previously, Mr. Patrizio served as senior vice president and chief procurement officer at JPMorgan Chase & Co., senior vice president, strategic sourcing and procurement at The Walt Disney Company, and held various senior operations, sales, and marketing positions at Universal Studios, Joseph E. Seagram & Sons and Kellogg Company. Mr. Patrizio is currently an industry advisor with Silverwood Partners.  Mr. Patrizio holds an M.B.A. in finance and a bachelor's degree in marketing from Iona College.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Pursuant to the rules and regulations of the SEC, the attached exhibits are deemed to have been furnished to, but not filed with, the SEC.

 
 
 
Exhibit No.
 
Description
 
 
99.1
 
Press Release of RealNetworks, Inc. dated September 19, 2016.
 
 

    

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
REALNETWORKS, INC.
 
 
By:
 
/s/ Michael Parham
 
 
Michael Parham
 
 
Senior Vice President, General Counsel and Secretary
Dated: September 19, 2016

    

EXHIBIT INDEX
 
Exhibit No.
 



99.1

 

Press Release of RealNetworks, Inc. dated September 19, 2016.



    




Media Contact:
Paige Kenny
SHIFT Communications
415-591-8423
 


 



REALNETWORKS APPOINTS BILL PATRIZIO
PRESIDENT OF CONSUMER MEDIA
SEATTLE, September 19, 2016 – RealNetworks, Inc. (NASDAQ: RNWK) today announced that media industry veteran Bill Patrizio has joined the company as President of Consumer Media.
In his new role leading Real's Consumer Media business, Patrizio will be responsible for strategy and management of Real's PC RealPlayer group and its IP licensing business. Patrizio will also be responsible for the global rollout and marketing of Real's new RealMedia HD codec technology. Patrizio will be based in Seattle and report directly to CEO Rob Glaser.
"I'm delighted that Bill is joining Real to lead our Consumer Media group," said Rob Glaser, Founder and CEO of RealNetworks. Bill's extensive background at the intersection of media and technology, his track record for creating value, and his personal passion for digital media all make Bill a great addition to our senior leadership team."
Patrizio joins RealNetworks from Opaka Partners, a consulting firm that he founded in 2013. Previously, Patrizio spent nearly four years as the chief executive officer of Red Bee Media, a digital media software and services company based in the U.K. The company was sold to Ericsson in May 2014. Prior to this, he was president of the broadcast services division of Technicolor SA. Patrizio also served as an executive at other media and consumer products companies including Disney, Universal Studios, Seagram, and Kellogg.
"I've been watching RealNetworks since my days at Disney back in the late 90's and have always been impressed with the company's vision and pioneering spirit. I look forward to bringing my


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years of industry experience to this role to help the company continue to deliver compelling products that push boundaries and excite consumers," said Patrizio.
Today's announcement marks another important step for RealNeworks as it strengthens its leadership positions following a reorganization in the first quarter of 2016, which breaks the business into three segments: Consumer Media, Mobile Services, and Games.
About RealNetworks, Inc.
RealNetworks creates innovative products and services that make it easy for people to connect with and enjoy digital media. RealNetworks invented the streaming media category and continues to connect consumers with their digital media both directly and through partners, aiming to support every network, device, media type, and social network. Find RealNetworks corporate information at www.realnetworks.com.
RealNetworks and its respective logos are trademarks, registered trademarks, or service marks of RealNetworks. Other products and company names mentioned are the trademarks of their respective owners.
Forward-Looking Statements
This release contains forward-looking statements that involve risks and uncertainties, including statements relating to management roles and RealNetworks’ plans and expectations regarding its Consumer Media business. All statements that do not relate to matters of historical fact should be considered forward-looking statements. Actual outcomes may differ materially from expectations. Factors that could cause actual results to differ from those predicted include, but are not limited to, growth and other benefits from the implementation of the company’s strategic initiatives; competitive risks, such as the emergence or growth of competing technologies, products and services; and risks associated with key customer or strategic relationships, business acquisitions and the introduction of new products and services. More information about potential risk factors that could affect RealNetworks’ business and financial results is included in RealNetworks’ annual report on Form 10-K for the most recent year ended December 31, its quarterly reports on Form 10-Q and in other reports and documents filed by RealNetworks from time to time with the Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements or information.

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