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2.0 million shares of Series A common stock.
Additionally, Liberty Bell I purchased 2.7 million
shares of Series A common stock subsequent to June 30,
1998. The Company believes that the purchase of shares
of its common stock by Liberty Bell I is an attractive
investment for Liberty Bell I that will also enhance
Times Mirror shareholder value as well as offset
dilution from the shares of common stock issued under
the Company’s stock-based employee compensation and
benefit programs. * * *
On August 17, 1998, Unterman signed Times Mirror’s Form 8-K,
Current Report Pursuant To Section 13 or 15(d) of the Securities
Exchange Act of 1934, which reported the events of July 31, 1998,
to the Securities and Exchange Commission (SEC) (August 17, 1998,
Form 8-K). Included in the August 17, 1998, Form 8-K was an
unaudited pro forma condensed consolidated balance sheet that
reflected Times Mirror’s disposition of Bender and its 50-percent
interest in Shepard’s. The adjustments shown in the pro forma
condensed consolidated balance sheet gave effect to Times
Mirror’s disposition of Bender and its 50-percent interest in
Shepard’s as if those transactions had occurred on June 30, 1998.
In so doing, the pro forma condensed consolidated balance sheet
recorded the gain on Times Mirror’s disposition of Bender and its
50-percent interest in Shepard’s by debiting “Cash and cash
equivalents”, an asset category, $1,649,650,000.
On February 22, 1999, Willes signed Times Mirror’s annual
shareholder report for 1998. In the section entitled “Letter to
Shareholders”, Willes made the following statements:
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