SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
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CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) August 26, 1999
LYNCH INTERACTIVE CORPORATION
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(Exact name of Registrant as specified in its charter)
Delaware 1-15097 06-1458056
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(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
401 Theodore Fremd Avenue, Rye, New York 10580
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 914/921-7601
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Item 5. OTHER EVENTS
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The Morgan Group, Inc. (AMEX:MG), Registrant's approximately 55% owned
subsidiary, announced a management promotion and outlook for the
second-half 1999.
Morgan stated that Mr. James Nywening has been named Senior Vice
President of Specialized Outsourcing Services ("SOS") for Morgan. Mr.
Charles C. Baum, Morgan Chairman and Chief Executive Officer, said,
"We are very pleased to promote Jim to lead our SOS team. As an
eleven-year veteran of Morgan, he brings to his new role a wealth of
experience that we believe will serve to guide the SOS operation's
continued growth and enhance the unit's profitability. This is an
important area for our Company, especially given the opportunities we
see in the drive outsourcing industry, where estimates place the total
market at $500 million in annual sales. While our SOS division has
grown its revenues line at a rapid pace, we need more focus on costs
and improved profitability.
"Jim's appointment is particularly timely in light of the challenges
we now face in our operating businesses. We are currently experiencing
a slowdown in common with major customers in our manufactured housing
operation. While it is still early in the period, it appears likely
that we will not match the financial performance we reported for the
second half of 1998," concluded Mr. Baum.
This press release contains forward-looking statements, including
initiatives relating to profitability. Such statements are subject to
a number of material factors which could cause the statements or
projections contained therein to be materially inaccurate. Such
factors include, without limitation, successful implementation of
profit initiatives, overall economic conditions, competition for
customers and drivers, and risks associated with business operations,
acquisitions, expansion into new business lines, and changes in the
regulatory environment.
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
LYNCH INTERACTIVE CORPORATION
Date: August 26, 1999 by: /s/ Robert A. Hurwich
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Robert A. Hurwich
Secretary
