From the Wires
Digital Generation Announces the Meruelo Group's Agreement to Withdraw Proposals for the Annual Meeting
By: Marketwired .
Feb. 6, 2013 07:39 PM
DALLAS, TX -- (Marketwire) -- 02/06/13 -- DG® (NASDAQ: DGIT), the world's leading ad management and distribution platform, today announced that Alex Meruelo, the Alex Meruelo Living Trust and Meruelo Investment Partners have agreed to withdraw in their entirety the director nominations and proposals as set forth in the notice provided to the Company on January 17, 2013 and in their preliminary proxy statement filed on January 25, 2013 and not to present any proposals or director nominations for consideration at DG's 2012 Annual Meeting of Stockholders on February 21, 2013 (the "Annual Meeting"). DG intends that the only proposals and director nominations to be considered at the Annual Meeting are those reflected in DG's Definitive Proxy Statement filed with the U.S. Securities and Exchange Commission on January 29, 2013.
As previously announced, DG has also entered an agreement with Clinton Group, Inc. on January 16, 2013 to nominate two new independent directors for election at the Annual Meeting and to increase the size of the Board from seven to eight members. The Clinton Group, which owns approximately 6% of the outstanding shares of DG's common stock, has agreed to vote its shares in support of all DG director nominees at the Annual Meeting.
DG connects over 11,000 global advertisers and agencies with their targeted audiences through an expansive network of over 6,000 television broadcast stations and over 11,500 web publishers in 75 countries. The Company's television division utilizes best-in-class network and content management technologies, creative and production resources, digital asset management and syndication services that enable advertisers and agencies to work faster, smarter and more competitively. The Company's online division, MediaMind, allows marketers to benefit from optimized management of online advertising campaigns while maximizing data driven advertising. For more information, visit www.DGit.com.
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause the strategic alternatives process to fail for a variety of reasons, including factors discussed under the heading "Risk Factors" in DG's Annual Report on form 10-K filed on February 29, 2012 and additional reports DG files with the Securities and Exchange Commission.
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