Waterfront Media Names Pioneering Industry Veteran Doug McCormick as Chairman of the Board
Waterfront Media, the largest privately held online health company and the operator of Everyday Health, announced that Doug McCormick has been named Chairman of the Board. Mr. McCormick, who currently serves as a Company director, brings more than 20 years of experience in media and the Internet, having served as Chairman and CEO of iVillage and President and CEO of Lifetime Television Networks. He assumes the role of Chairman of the Board from Bo Peabody, co-founder and Managing General Partner of Village Ventures, who also remains on the board. Peabody served as chairman starting in 2003, a year and half after the company was founded by CEO Ben Wolin and President Mike Keriakos.
BROOKLYN, N. Y. (PRWEB) May 12, 2008
Mr. McCormick is currently a Venture partner with Rho Ventures, a division of Rho Capital Partners and one of Waterfront Media's funders; his primary focus is on investments in the media sector. Prior to Rho, he served as Chairman and CEO of iVillage Inc., where he successfully completed the sale of iVillage to NBC Universal for over $600 million dollars. In building iVillage, he engineered the successful merger of two public companies, iVillage Inc. and Women. com Networks, Inc., creating the number one online media company for women.
During his tenure as President and CEO of Lifetime Television Network, Lifetime was the number one women's brand in electronic media and the ninth most profitable network (cable and broadcast) in the US. In creating the branding strategy and positioning of "Television For Women," Mr. McCormick is widely credited with raising Lifetime's market value by more than $3 billion in five years, growing prime time ratings by over 100 percent, quadrupling revenues, creating a household brand name, and conceiving and launching LMN, the Lifetime Movie Network.
"Doug is a recognized leader in new media and advertising, and we look forward to benefiting from his experience and insight. His management at iVillage and Lifetime transformed both media properties, making them into the powerhouses they are today, and his experience will be invaluable as we continue to grow Everyday Health into the number one online health property," said Ben Wolin, Waterfront Media's CEO and co-founder. "I also want to thank Bo Peabody for his leadership since 2003. During the early stages of our business, Bo was instrumental in helping us grow the company to where we are today."
"I am looking forward to my new role with Waterfront Media. The company has been extremely successful to date and I am eager to assist them as they become the number one online health company," said Mr. McCormick. "It's rare to see a company grow its audience over 300% in one year as they did in 2007 and I know the company has the ingredients to lead its category."
Mr. McCormick also chairs the Board of Directors Lin TV (NYSE:TVL), is Vice Chairman of ReelzChannel and is a member of the board of Ovation Television, Wayport Inc, and a Trustee of the American Management Association where he is a member of the executive committee. Previously, he served as a director on a number of Boards including MarketWatch. com, Inc. (Nasdaq:MKTW) and the Ad Council.
About Waterfront Media and Everyday Health
Waterfront Media is the largest privately held online health company and operates Everyday Health, which attracts over 14 million unique users per month. Through its network of health, diet, fitness, and pregnancy Web sites, including its flagship EverydayHealth. com, Waterfront Media enables consumers to live healthier lives every day. The company was founded by Michael Keriakos and Ben Wolin in 2002.
