Grass Valley Names Tim Thorsteinson President and CEO

Grass Valley has appointed broadcast technology industry
veteran Tim Thorsteinson president and CEO of the company, replacing Alain Andreoli,
who had dramatically transformed the company's operations in recent years.

Thorsteinson has held numerous top executive jobs in the
broadcast technology industry, including the president and CEO of Grass Valley,
president of the Broadcast Communications division of Harris Corp., and president
and CEO of Leitch. Most recently, Thorsteinson was president and CEO of
Enablence Technologies Inc.

In announcing the appointment, David Golob, partner at
Francisco Partners, which owns the tech vendor, and chairman of the Board of
Grass Valley, thanked "Alain [Andreoli] for all of his contributions in helping
to re-establish Grass Valley as an independent company."

"We are pleased to have Tim Thorsteinson join Grass Valley
at this pivotal point in the company's transformation," Golob said. "Tim's
in-depth industry knowledge and his proven track record of value creation will
ensure Grass Valley's continued success as an independent leader in the rapidly
evolving broadcast infrastructure market."

Andreoli has stepped down and will leave the business at the
end of January.

"Grass Valley is uniquely positioned to help lead the
broadcast industry into the multi-platform era and I am excited to be joining
the team," added Thorsteinson. "I know firsthand of the rich history of
technical innovation that our customers around the world have come to expect
from Grass Valley and I intend to continue that tradition through our powerful
product portfolio and best in class solutions."