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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
October 13, 1999
UNITED MAGAZINE COMPANY
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Ohio
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(STATE OR OTHER JURISDICTION OF INCORPORATION)
0-2675 31-0681050
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(COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NUMBER)
5131 Post Road, Dublin, OH 43017
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(614) 792-0777
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(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 5. Other Events
On September 18, and September 20,1999, United Magazine Company and its
subsidiaries ("UNIMAG" or the "Company") entered into agreements with Anderson
News LLC ("Anderson") and Great Atlantic News LLC ("The News Group"),
respectively, to convey all magazine wholesale customers records and fixtures.
Anderson received records relating to customers in southern Ohio, southern and
central Indiana, Kentucky, West Virginia and Tennesse. The News Group received
customer records relating to customers in northern Ohio, Pennsylvania, northern
Indiana and Michigan.
United Magazine Company can receive a percentage of revenues from former United
Magazine Company customers obtained by Anderson and The News Group at six months
and twelve months respectively from the date of the conveyance. In addition,
United Magazine Company entered into a 30 day, renewable, not to exceed 90 day
subcontracting agreement with The News Group to service The News Group customers
in northern Ohio, northern Indiana, and Michigan from its facilities in Solon,
Ohio and Jackson, Michigan. The News Group will reimburse United Magazine
Company for all expenses incurred up to a maximum amount based on a cost plus
basis.
United Magazine Co. facilities in Cincinnati, Ohio, Indianapolis, Indiana,
Louisville, Kentucky, and Columbia, Kentucky have been closed. Proceeds from the
sale of unused assets and the collection of accounts receivable will be used to
pay off the bank debt and accounts payable to the extent possible.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
UNITED MAGAZINE COMPANY
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(Registrant)
Date: October 13, 1999 By: /s/ John B. Calfee, Jr.
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John B. Calfee, Jr.
Chief Financial Officer
