CMP Media Inc – ‘SC 14D9/A’ on 5/26/99 re: CMP Media Inc – EX-10

On:  Wednesday, 5/26/99   ·   Accession #:  1047469-99-22303   ·   File #:  5-51679

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Amendment to Tender-Offer Solicitation/Recommendation Statement   —   Schedule 14D-9
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 14D9/A   Amendment to Tender-Offer                              3     12K 
                          Solicitation/Recommendation Statement                  
 2: EX-9        Press Release                                          5     19K 
 3: EX-10       Press Release                                          1      6K 

EX-10   —   Press Release

EX-10
TOC
↑Top
Previous
Next
↓Bottom
Just 1st
 
                                                                      Exhibit 10

May 21, 1999                                                                    

CMP MEDIA'S EMPLOYEES TO SHARE $50 MILLION ON COMPLETION OF ACQUISITION BY      
MILLER FREEMAN                                                                  

Manhasset, NY--CMP Media Inc. (Nasdaq: CMPX), one of whose founding principles  
is "to be a great place to work," will be generating bonus checks to the tune of
$50 million, delivering on the founding family's promise to share the proceeds  
of CMP's sale to Miller Freeman with the people who have helped build the       
company.                                                                        

"CMP's success has been built on the creativity, resourcefulness, hard work and 
loyalty of our people," said President and CEO Michael S. Leeds. "My family     
wanted our people to share in that success in a very meaningful way, and we're  
delighted to be in a position to provide this bonus to what we believe is the   
best work force anywhere."                                                      

The bonus distribution, even more generous than the gift shares of CMP stock    
given to each employee at the time of the company's IPO in July 1997, will be   
based on years of service with the company and compensation.                    

CMP people will receive $4,000 for each full year they've been with CMP plus 20 
percent of their 1998 compensation. That will result in an average bonus of more
than $25,000 a person. Those who have been with the company for 20 years or more
will receive a minimum of $100,000.                                             

The sale of CMP to Miller Freeman, Inc., a subsidiary of the UK-based media     
giant United News & Media plc (Nasdaq: UNEWY), for $920 million, or $39 a share,
was announced on April 29, 1999. The deal is expected to close early in June.   

Founded 28 years ago by Gerard and Lilo Leeds, CMP is headquartered here and has
1,775 employees in 21 branches around the world.                                

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘SC 14D9/A’ Filing		Date		Other Filings
Filed on:		5/26/99		SC 13D/A,  SC 14D1/A
		5/21/99
		4/29/99
				List all Filings