Beijing, China, July 14, 2009 – Xinhua Sports & Entertainment Limited (“XSEL” or the “Company”; NASDAQ: XSEL), a leading sports and entertainment media company in China, today announced that it has won the International Stevie Award for “Single-Market Company of the Year in Asia” in the 2009 International Business Awards. It’s Chairman and CEO, Ms. Fredy Bush, was also awarded an International Stevie Award in the category of “Executive of the Year in Asia”. In addition to this, XSEL is also a finalist in the “Most Innovative Company of the Year in Asia” category, while Ms. Bush is a finalist in the category of “Turnaround Executive of the Year”. The International Business Awards are the only global, all-encompassing business awards program honoring great performances in business.
“Asia, especially China, holds great potential for sports and entertainment media and this award affirms XSEL is leading the way,” said Ms. Fredy Bush, Chairman and CEO of XSEL. “This year’s selection process has been a very competitive one, putting us up against many worthy nominees in this category. I am very proud that XSEL is the only company from Mainland China to receive an International Stevie Award this year, and honored to accept these awards on behalf of the 1,200 employees of XSEL.”
XSEL provides premium international sports and entertainment content to China’s young, upwardly mobile demographic through unique, nationwide access as well as media expertise to advertisers for targeting this group. XSEL brought Chinese audiences the 2008 Super Bowl last year and also recently the Ultimate Fighting Championships™ (“UFC”) one hour per every Saturday and Sunday.
“Despite the harsh economic climate, entries to the IBAs actually grew a bit this year, and that illustrates the increasing importance of The International Business Awards worldwide,” said Michael Gallagher, president of The Stevie Awards, presenters of the International Business Awards. “We congratulate all of the Finalists and International Stevie Awards winners, and we look forward to honoring them for their achievements at our gala awards dinner in New York on September 14.”
Recipients of International Stevie Award trophies were selected from more than 1,700 entries received from organizations and individuals in more than 30 countries. Organizations all over the world are eligible to compete in The International Business Awards, and can enter in any of more than 40 categories from Multinational Company of the Year and Best New Product of the Year to Corporate Social Responsibility Program of the Year and Executive of the Year. Among this year’s Stevie Award winners include Samsung Electronics, UPS and Temasek Holdings to name a few.
Judging of entries is conducted in two phases: preliminary and final. Preliminary judges are recruited worldwide, apply to judge on the International Business Awards web site, and are accepted or rejected, and assigned categories by Stevie Awards staff, based on their experience and language preferences.
Members of the Board of Distinguished Judges & Advisors of the Stevie Award and other select business leaders perform the final judging, during which they choose International Stevie winners at their discretion, from among the Finalists. The number of Finalists are determined by the number and quality of entries submitted. All entries that receive a high average score in the preliminary-round of judging will automatically become Finalists. All of the judges and advisors for the Stevie Awards are prominent members of the business community and include renowned business leaders such as Donald Trump, President and CEO of the Trump Organization.
Nicknamed the Stevie® for the Greek word “crowned,” the awards will be presented to winners at a gala dinner on Monday, September 14 in the St. Regis Hotel in New York City.
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