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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): September 26, 1997
Golden Books Family Entertainment, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-14399 06-1104930
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
888 Seventh Avenue, 43rd Floor, New York, New York 10106
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 547-6700
850 Third Avenue, New York, New York 10022
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
On September 26, 1997, the Children's Publishing Group of Golden
Books Family Entertainment, Inc. (the "Company") signed a new license agreement
with Disney Book Publishing, Inc., a subsidiary of The Walt Disney Company. The
complete text of the press release issued by the Company is attached hereto as
an exhibit and is hereby incorporated by reference in its entirety to this
item.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
c. Exhibits
99.1 Press Release, dated September 30, 1997
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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 hereunto duly authorized.
GOLDEN BOOKS FAMILY ENTERTAINMENT, INC.
Dated: October 1, 1997 By: /s/ Philip Galanes
Philip Galanes
General Counsel and Vice President,
Legal Affairs
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Exhibit 99.1
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Golden Books Family Entertainment
FOR IMMEDIATE RELEASE
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Contact: Lisa Gubernick Lisa Kitei
Corporate Communications Communications
Golden Books Family Entertainment Disney Publishing
(212) 547-6796 (212) 633-4495
GOLDEN BOOKS RECEIVES NEW LICENSE FROM DISNEY
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NEW YORK, September 30, 1997 -- Golden Books Family Entertainment
(NASDAQ:GBFE) today announced that its Children's Publishing Group has signed a
new license agreement with Disney Book Publishing, Inc., a subsidiary of The
Walt Disney Company (NYSE:DIS). The new license begins October 1, 1997, and
runs through December 31, 2001, and can be extended under certain conditions
for an additional year through December 31, 2002. Financial terms were not
disclosed. As part of the deal, Disney will receive warrants to purchase 1.1
million shares of GBFE common stock at an undisclosed price.
The book formats covered under the license include: coloring books,
activity books, Little Golden Books, First Little Golden Books, Look-Look
Books, Super Shape Books and Sturdy Shape Books. New formats approved by Disney
will also be covered under this agreement. Properties covered under the new
agreement include Disney classic characters as well as characters from major
new Disney-branded films released during the term of the agreement.
"We are pleased to be extending and expanding Golden Books'
long-term relationship with the world's premier creator and developer of
timeless characters," said Willa Perlman, President and Publisher, Golden Books
Children's Publishing Group. "We are well on our way to restoring Golden Books
to its historic leadership in children's publishing and building an integrated
family entertainment company."
Said Bob Miller, Vice President and Group Publisher of Disney Book
Publishing, "We're pleased to be continuing our relationship with Golden Books.
We've had 65 great years with Golden and we look forward to many more."
"Golden Books began its association with Disney in 1933, licensing
Mickey Mouse for Big Little Books. Over the years, our relationship with Disney
has grown to include a broad range of formats and characters," said Patty
Sullivan, Executive Vice President and Publisher, Golden Books Children's
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Publishing Group. "With this agreement, we will expand and enhance our Disney
character-based books. We share Disney's commitment to producing enriching
family entertainment."
Said Lisa Holton, Vice President and Publisher of Disney's Juvenile
Book Publishing Group, "Disney is committed to creating innovative, exciting,
and accessible books for children and we look forward to sharing our vision
with Golden Books."
Golden Books Family Entertainment, Inc., is the leading children's
book publisher in North America. The Company owns one of the world's largest
libraries of family entertainment copyrights and creates, publishes and markets
entertainment products for children and families through all media.
Disney Book Publishing publishes books under several labels,
including Hyperion, which publishes adult fiction and non-fiction hardcover and
paperback books; Hyperion Books for Children, which publishes quality
children's books by leading authors and illustrators in hardcover and
paperback; Disney Press which publishes quality gift hardcover and paperback
books; Mouse Works and Fun Works, which publish high-value children's books for
the mass market, and also includes Licensed Publishing, and Creative
Development.
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