News Column

AMERICAN MEDIA INC FILES (8-K) Disclosing Change in Directors or Principal Officers

June 16, 2014

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On June 12, 2014, American Media, Inc. (the "Registrant") received a written letter of resignation from Andrew Russell stating that he resigned, effective immediately, from his position on the Board of Directors (the "Board") of the Registrant. Mr. Russell resigned from the Board to pursue other business opportunities and not as a result of any dispute or disagreement with the Registrant.

(d) Pursuant to the Registrant's Stockholders Agreement, dated as of December 22, 2010 (the "Stockholders' Agreement") and previously filed and disclosed by the Registrant with the Securities and Exchange Commission, the Avenue Stockholders (as defined in the Stockholders Agreement) have the right to designate four directors on the Board. Mr. Russell had been previously designated by the Avenue Stockholders. On June 12, 2014, pursuant to designation by the Avenue Stockholders under the Stockholders Agreement, the Board of the Registrant appointed Randal Klein to the Board in order to fill the vacancy created by the resignation of Mr. Russell. Mr. Klein has not been appointed to any committees of the Board. A subsequent Current Report on Form 8-K/A will be filed with the Securities and Exchange Commission if Mr. Klein is appointed to serve on any committee of the Board.

Due to Mr. Russell's resignation from the Board, the Compensation Committee is now comprised of the following members of the Board:

Compensation Committee: Michael Elkins (Chairman), Gavin Baiera, Charles Koones, and David Pecker


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Source: Edgar Glimpses

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