SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): June 13, 1994
MULTIMEDIA, INC.
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(Exact name of registrant as specified in its charter)
South Carolina
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(State or other jurisdiction of incorporation)
0-6265 57-0173540
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Commission File Number (IRS Employer Identification No.)
305 South Main Street, Greenville, South Carolina 29601
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(Address of principal executive offices) Zip Code
(803) 298-4373
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Registrant's Telephone Number
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ITEM 5. OTHER EVENTS.
On June 13, 1994, the Company announced the intention of Walter E.
Bartlett to retire as the Company's Board Chairman and Chief
Executive Officer. The nominating committee recommended that Donald
D. Sbarra, Senior Vice-President of the Company, be elected to
succeed Mr. Bartlett. The Company will continue the interview
process to determine a President and Chief Operating Officer for the
Company.
On June 16, 1994, the Board of Directors of the Company elected
Donald D. Sbarra as Chairman and Chief Executive
Officer of the Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(C) Exhibits
20.1 Press release dated June 13, 1994.
20.2 Press release dated June 16, 1994.
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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 thereunto duly authorized.
MULTIMEDIA, INC.
Dated: June 17, 1994 By: Signature of Robert E. Hamby, Jr. appears here
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Robert E. Hamby, Jr.
Senior Vice President and
Chief Financial Officer
Dated: June 17,1994 By: Signature of Thomas L. Magaha appears here
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Thomas L. Magaha
Vice President
Finance & Development/Controller
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BARTLETT TO RETIRE AS MULTIMEDIA CHAIRMAN AND CEO
GREENVILLE, SC - June 13, 1994 -- Multimedia, Inc. today announced
the intention of Walter E. Bartlett to retire as the Company's Board
Chairman and Chief Executive Officer. The Board's nominating
committee has recommended that Donald D. Sbarra, Senior Vice
President of the Company, be elected to succeed Mr. Bartlett. The
Board is expected to give favorable consideration to the action of
the committee at a meeting scheduled for Thursday, June 16.
According to a spokesman for the nominating committee, Bartlett, age
66, has agreed to remain as Senior Consultant to the Board of
Directors of Multimedia.
Bartlett said when announcing his retirement, "I have recommended
Don Sbarra to become Chairman and Chief Executive Officer of
Multimedia in what the Board and I plan to be a seamless transition.
This is my second retirement as CEO. I had resumed these
responsibilities on a temporary basis in December of this past year
to prepare us for a management transition. We are now ready for the
next step in this process, and I am delighted that Don Sbarra is
available for this leadership role. We have begun the interviewing
process for President and Chief Operating Officer, and Sbarra, with
his experience in operations, will be the perfect mentor for the
person chosen for this job."
Sbarra commented, "I have greatly valued my association with Walter
Bartlett for the last 13 years, and I am grateful for Walter's
recommendation and the action of the nominating committee. Walter
has done a tremendous job as Chief Executive of the Company since
our recapitalization in 1985. He was the guiding force in reducing
the Company's debt and creating shareholder value after the
recapitalization."
Before joining Multimedia in 1976, Bartlett was Senior Vice
President of Avco Broadcasting. During his career at Avco, he was
responsible for the development of the Phil Donahue talk show. At
Multimedia, Bartlett served as President of both the Broadcasting
and Entertainment divisions before becoming President and Chief
Operating Officer of the parent company in 1981. In 1985 he was
elected President and Chief Executive Officer and led the Company
after its successful recapitalization in 1985. In 1989 he was
elected Chairman of the Board.
(cont'd)
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Sbarra joined Multimedia in 1981 as President of the Cable division.
He was elected Senior Vice President of Multimedia in October 1987
and a member of Multimedia's Board of Directors in 1988. In
December 1993 Sbarra took the position of Senior Vice President of
Operations for Multimedia and has since been responsible for the
operating divisions of the Company. Mr. Sbarra is a Director and
member of the Executive Committee of the Cable Television
Advertising Bureau; a Director of the National Cable Television
Association and a member of the association's Copyright Committee;
a member of the Board of Directors of C-SPAN cable network; and a
Director of Cable in the Classroom, a project of the Cable Alliance
for Education.
Multimedia, Inc. is a diversified media communications company
headquartered in Greenville, SC, which publishes 11 daily and 49
non-daily newspapers, owns and operates five television and five
radio stations, operates more than 125 cable television franchises
in five states, monitors approximately 58,000 security alarm
subscribers, and produces and syndicates quality television
programming including DONAHUE, SALLY JESSY RAPHAEL, JERRY SPRINGER
and RUSH LIMBAUGH, The Television Show.
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Contact: Markeeta McNatt
(803) 298-4819
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SBARRA ELECTED CHAIRMAN, CEO OF MULTIMEDIA, INC.
GREENVILLE, S.C. - JUNE 16, 1994 -- Multimedia, Inc. today
announced that its board of directors had elected Donald D.
Sbarra as chairman and chief executive officer, effective
immediately. Sbarra succeeds Walter E. Bartlett, who had served
as the Company's chairman, president and chief executive officer.
The Company said on June 13 that Bartlett had indicated his
intention to retire and to recommend the election of Sbarra to
the board's nominating committee.
Sbarra joined Multimedia in 1981 as president of the Cable
Division. He was elected senior vice president of the Company in
October 1987 and a member of Multimedia's board of directors in
1988. In December 1993 Sbarra took the position of senior vice
president of operations for Multimedia and has since been
responsible for the operating divisions of the Company.
Multimedia, Inc. is a diversified media communications
company headquartered in Greenville, S.C., which publishes 11
daily and 49 non-daily newspapers, owns and operates five
television and five radio stations, operates more than 125 cable
television franchises in five states, monitors approximately
58,000 security alarm subscribers, and produces and syndicates
quality television programming including DONAHUE, SALLY JESSY
RAPHAEL, JERRY SPRINGER and RUSH LIMBAUGH, The Television Show.
Contact: Markeeta McNatt
Vice President
Investor Relations & Corporate Communications
(803) 298-4819
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