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
JANUARY 2, 1997
Date of Report (Date of earliest event reported)
TRANSMEDIA NETWORK INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-4028 84-6028875
(State or other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) Identification No.)
11900 BISCAYNE BOULEVARD, MIAMI, FLORIDA 33181
(Address of principal executive offices) (Zip Code)
(305) 892-3300
(Registrant's telephone number, including area code)
<PAGE>
Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
(a) On January 2, 1997, Transmedia Network Inc. (the
"Company") terminated the franchise previously granted to The Western Transmedia
Company, Inc. ("Western") which gave Western the right to operate in California,
Oregon, Washington and a portion of Nevada and completed the purchase of certain
of Western's assets, including its rights to receive food and beverage credits,
furniture, fixtures and equipment for an aggregate consideration of $7.2 million
in cash, subject to adjustment based on the closing date value of such rights to
receive. Of that amount, $4.75 million represents the consideration for the
termination of the franchise. A portion of the proceeds of the Company's recent
securitization of its rights to receive was the source of funds for the
consideration paid to Western.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
EXHIBIT
NUMBER DESCRIPTION
------- -----------
10.1 Stock Purchase Agreement, dated as of November 15,
1996, between the Company and Western. Previously
filed as Exhibit 10.14 to the Company's Annual
Report on Form 10- K for the fiscal year ended
September 30, 1996.
-2-
<PAGE>
SIGNATURE
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.
TRANSMEDIA NETWORK INC.
(Registrant)
Date: January 7, 1997 By: /s/ David L. Weinberg
--------------------------------------
Name: David L. Weinberg
Title: Vice President and
Chief Financial Officer
-3-
