Media industry moves
* Aspart of a cooperation agreement with its shareholder Engaged Capital LLC,Outerwall Inc.appointed Jeffrey Brown,CEO and founding member of Brown Equity Partners LLC, to its board. Brown willserve in the class of directors with a term expiring at the 2017 annual meetingof stockholders, according to a Form 8-K filed April 12. Outerwall also agreed to add two newindependent directors to its board to be submitted by Engaged Capital. Thedirectors are expected to be named on or before Aug. 1, and the board willconsist of a maximum of nine directors at that time. Under the terms, EngagedCapital will support Outerwall's nominees at the 2016 annual meeting ofstockholders and has agreed to customary standstill provisions.
* Asexpected, investorPeter Currie and Chernin Group CEO Peter Chernin are 's board. Hugh Johnstonand Martha Lane Fox will succeed Currie and Chernin as members of the board.The company said in an April 8 SEC filingthat Currie and Chernin had requested the nominating and corporate governancecommittee and the board to not consider them for re-election. The two exitingdirectors will remain on the board until the conclusion of Twitter's 2016annual stockholders meeting. Johnston was also named to the audit committee,and will take over as the chair of the audit committee following the 2016annual stockholders meeting. Johnston and Lane Fox will serve in the class of directorswhose term expires at the annual meeting of stockholders to be held in 2016 and2018, respectively. Johnston is vice chairman and CFO of PepsiCo Inc., whileLane Fox is founder and chairperson of private karaoke company Lucky Voice, andchairperson of 3D printing and game company MakieLab.
*Atairos, an independent strategic venture led by former CFO Michael Angelakis,agreed to invest $250million in Groupon Inc.In connection with the investment, Angelakis, chairman and CEO of Atairos, willjoin Groupon's board, according to an April 4 news .
*News website Mashable secured$15 million in a new funding round led by Time Warner Inc.'s Turner unit, Bloomberg News reportedMarch 31. President of TBS and TNT and Turner Entertainment Chief CreativeOfficer Kevin Reilly will join Mashable's board.
*Zall Development Group Ltd. unit Zall Cross-border E-commerce Investment Co.Ltd. closed theacquisition of a strategic equity stake in LightInTheBox Holding Co. Ltd. As a result of thetransaction, Zhi Yan and Gang Yu joined LightInTheBox as directors of thecompany, succeeding Richard Lim and Ye Yuan, who resigned from the board,according to a March 30 news release.Yan will replace Lim as a member of the corporate governance and nominatingcommittee of the board, while the company appointed Yu to the compensationcommittee of the board.
*VIEX Opportunities Fund LP, and its affiliates, YuMe Inc.'s shareholders to support its proposals at theannual meeting of stockholders scheduled for May 27. According to a March 30preliminary proxy statement,VIEX is seeking the election of two director nominees to the board inopposition to two of the company's director nominees, to serve as class IIIdirectors until the 2019 annual meeting of stockholders or until a replacementis named. Also, VIEX asked the shareholders to approve a nonbinding proposal torequest that the board take the steps necessary to eliminate the classificationof the board.
*Liberty Interactive Corp.and a newly formed company to be called Liberty Expedia Holdings Inc. on March24 entered into atransaction agreement with Liberty Interactive Chairman John Malone, LeslieMalone and Expedia Inc.Chairman Barry Diller. According to a March 29 SEC , immediately following thecompletion of the spinoff,Liberty Expedia Holdings' board will consist of seven members, with fiveindividuals designated by Liberty to serve as common stock directors and twoindividuals designated by Diller to serve as series B directors. Three of thecommon stock directors and one series B director are required to be "independent"as to Liberty Expedia Holdings pursuant to Nasdaq rules and regulations.
Communications industry moves
* Jonelle St. John resignedfrom the board of ShenandoahTelecommunications Co., according to a Form 8-K April 12. St. John had served as amember of the board's audit committee. In relation to the resignation, theboard approved an amendment to decrease the size of the board to eight membersfrom nine.