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Popdust Names Panero CEO

New York – Hugh
Panero, co-founder and former CEO of XM Satellite Radio, has been named CEO of
Popdust, an online music platform that connects fans with the pop stars they
love, using news.

“Our mission for
Popdust is to galvanize the intensity of pop music fans and create a vibrant
and profitable platform for music news, social interaction and commerce,”
said Hugh Panero. “The great team here, including co-founders David Wade, Craig
Marks and Kevin Fortuna, has already built the largest web destination
dedicated to pop music, and I look forward to building on their many achievements
to date. I love building media companies in businesses with a large market
opportunity, and clearly there are lots of pop music fans.”

Most recently, Panero
has served as a venture partner with New Enterprise Associates (NEA), a leading
venture capital firm, where he has focused on investments in the media and
technology space.

Popdust investors
represent leading ventures firms, including Lerer Ventures, New Enterprise
Associates, Softbank Capital and RRE Ventures.