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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) March 20, 1995
NATIONAL MEDIA CORPORATION
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(Exact name of registrant as specified in charter)
Delaware 1-6715 13-2658741
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(State or other juris- (Commission File Number) (IRS Employer Identi-
diction of incorporation) fication No.)
1700 Walnut Street, Philadelphia, PA 19103
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(Address of principle executive offices) (Zip Code)
Registrant's telephone number, including area code (215) 772-5000
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N/A
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(Former name or former address, if changed since last report.)
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Exhibit Index appears on Page 4
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Item 5. Other Events.
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On March 20, 1995 National Media Corporation (the "Company") announced
the execution of a settlement agreement (the "Agreement") concerning
all claims involved in a federal class action pending against the
Company since October, 1993. A copy of the press release announcing
the Agreement is attached hereto as Exhibit 99(a).
On March 24, 1995, the Company announced that it had been served with
a copyright infringement suit filed against it and others by Narada
Productions, Inc. and Nara Music, Inc. A copy of the press release is
attached hereto as Exhibit 99(b).
Item 7. Financial Statements and Exhibits.
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(c) Exhibits:
99(a) Press release of National Media Corporation dated March 20,
1995.
99(b) Press release of National Media Corporation dated March 24,
1995.
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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.
NATIONAL MEDIA CORPORATION
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(Registrant)
/s/ John J. Sullivan
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John J. Sullivan
Chief Financial Officer
Date: March 31, 1995
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EXHIBIT INDEX
(c) Exhibits:
99(a) Press release of National Media Corporation dated March 20,
1995.
99(b) Press release of National Media Corporation dated March 24,
1995.
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EXHIBIT 99(a)
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Contact:
John J. Sullivan
Chief Financial Officer
(215)772-5033
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FOR IMMEDIATE RELEASE
NATIONAL MEDIA ANNOUNCES SIGNING
OF CLASS ACTION SETTLEMENT AGREEMENT
Philadelphia, PA, March 20, 1995...National Media Corporation (NYSE:NM)
announced today the execution of a settlement agreement concerning all claims
involved in a consolidated federal class action pending against the Company
since October, 1993. The action involved allegations concerning disclosure by
National Media of its ongoing relationship with Positive Response Television,
Inc., an infomercial producer, and Ronic, S.A., a supplier of the Company. The
Company had previously announced the tentative settlement of this dispute.
The settlement agreement calls for National Media's insurer to contribute $2.175
million in cash and National Media to contribute approximately 145,000 shares of
its common stock to a settlement fund. The settlement is subject to court
approval. Following receipt of final court approval, the cash contributed by the
insurer and the proceeds of the sale of the common stock will be distributed to
shareholders who bought National Media stock from June 29, 1992 through May 27,
1993 and who submit approved claims. The defendants did not admit any liability
in the settlement, but determined to resolve this matter to avoid the further
cost and distraction of continued litigation. During the fiscal quarter ended
December 31, 1994, the Company recorded a charge reflecting the terms of this
settlement.
Brian McAdams, chairman of the board of National Media, said: "National Media is
pleased to have executed this settlement agreement. We want to focus all of our
attention on serving our customers worldwide and building value for our
shareholders."
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EXHIBIT 99(b)
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Contact:
John J. Sullivan
Chief Financial Officer
(215)772-5033
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FOR IMMEDIATE RELEASE
COPYRIGHT INFRINGEMENT SUIT FILED
INVOLVING EXERCISE VIDEO
Philadelphia, PA, March 24, 1995...National Media Corporation (NYSE:NM)
announced today that it has been served with a copyright infringement suit filed
against Tony Little, Media Studio Group, Inc., Home Shopping Network, Inc.,
Peter Pan Industries, Inc./PPI Entertainment Group, National Media, Jeff Arthur
Productions, Sample Music and others. The suit involves background music
contained in a home exercise videotape formerly distributed by certain of the
defendants and seeks unspecified damages arising from the alleged unauthorized
use of the music. The videotape in question has not been distributed by National
Media since May, 1994. Mr. Little's company, Media Studio Group, which owns the
videotape and granted distribution rights to National Media and the other
distributors, is contractually obligated to indemnify National Media against the
claims in this litigation. National Media intends to vigorously defend this suit
and does not believe that the action, if adversely decided, would have a
material adverse effect on the Company's results of operations and financial
position.
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