Fred's (FRED) Names Jerry A. Shore CEO Oct 30, 2014 05:46PM

The Board of Directors of Fred's Inc. (NASDAQ: FRED) today announced that it has named Jerry A. Shore Chief Executive Officer of the Company. Shore's promotion follows the Board's receipt and acceptance of notification by Bruce A. Efird of his intention to leave the Company upon the expiration of his employment contract.

Shore has served as the Company's Executive Vice President and Chief Financial Officer for more than 14 years and assumed the additional title of Chief Operating Officer in January of this year.

In connection with the change in Fred's leadership, the Company also has promoted Vice President and Controller Sherri L. Tagg to the position of Chief Accounting Officer. The Company has been working with an executive search firm to fill the vacant position of President and Chief Operating Officer and anticipates filling that slot very soon.

Commenting on the announcements, Michael J. Hayes, Chairman of the Board of Directors, said, "The Board's decision, effective today, to name Jerry as our new CEO was made in recognition of his accomplishments in guiding the fiscal management of the Company and, more recently, his notable contributions as Chief Operating Officer to the operational and strategic aspects of our business. In addition to these skills, Jerry has an intimate knowledge of the Company’s business and personnel, and he possesses the vision and strategy needed to transition Fred's to the convenience/pharmacy-centric model.

"Bruce will remain as an employee of the Company through the term of his contract," Hayes added. "We wish him all the best in the next phase of his career."

Commenting on the news, Shore said, "I am honored and excited by this appointment. For the past 10 months, I have been able to spend more time focusing broadly on Company operations, and I am confident of building a strong team that will drive deeper penetration of pharmacies in our stores and the relay of existing stores with the convenient, "need it now" format. This combination, along with a stronger marketing program, will be the cornerstone of our growth and profitability going forward."

Hayes noted that during the Company's upcoming third quarter conference call on November 25, 2014, management will discuss the Company's strategic alternatives program.


Cinedigm (CIDM) Reports Multi-Picture, Multi-Year Deal with Moguldom Studios Oct 30, 2014 02:25PM

Cinedigm (NASDAQ: CIDM) and Moguldom Studios announced today they have entered into a multi-year, multi-picture deal for Moguldom’s slate of independent films, which explore stories related to the modern, pop culture experience. The deal provides for no less than 10 new films per year. Additionally, Cinedigm has acquired the distribution rights to seven catalog titles from the Moguldom Studios’ library. Cinedigm will have certain US distribution rights to the films, including digital, television, and physical home entertainment.

Moguldom Studios is a production company for the next generation, creating independent documentary films that are branded as ‘Docutainment.’ Docutainment captures the intersection of reality and traditional storytelling techniques in order to take a unique and objective look at the modern, pop culture experience.

“With its Docutainment slate, Moguldom Studios is taking on controversial and often taboo topics in a frank, entertaining and no-holds barred manner,” said Yolanda Macias, Cinedigm’s EVP of Acquisitions. “We are proud to partner with Moguldom to bring these films to audiences eager for stories that speak to and reflect not only the African American community but our increasingly cross-cultural society as a whole."

“We are very excited to partner with Cinedigm. They are the nation’s premier distributor of independent films, and we know that our partnership with them will allow our films to be consumed by the masses. These are important topics and the more people that are able to join the debate, the better,” said Brett Dismuke, President of Moguldom Entertainment.

The deal was brokered between Brett Dismuke, President of Moguldom Entertainment and Melody Fowler, Cinedigm’s Director of Acquisitions. Moguldom Studios films covered in the distribution deal include:

“A Genius Leaves The Hood: The Unauthorized Story of Jay Z”The extraordinary story of how a young hustler from the projects used the same principles to break into corporate America.

“Gunland”Exploring the stories of children affected by gun violence in Chicago.

“The Swirl”Examining the fastest growing social trend in American culture: interracial dating.

“Black Church, Inc.”The prophets for profit. Examining financial corruption of the black church.

“Bottoms Up: Rise of the Backside”The sexual celebration, exploitation and degradation of women’s most treasured and exalted asset: the almighty butt.

“72%: A Baby Mama Crisis”Gain insight into the single mother phenomenon in the African American community.

“When The Checks Stop Coming In”Find out how the IRS, bad contracts and extravagance got these celebrities into financial trouble, and hear what advice they would give to other people and celebrities on the rise to stardom.

“Bleaching Black Culture”Explore the impact that African Americans have had on art, culture, technology and more. But if the African American community is the cultural architect, why are they still outside the building begging to get in?

“Knifed Up: The Evolution of Cosmetic Surgery”Get the backstory on the everyday girl who’s hoping for plastic perfection by tapping into the $11.8 billion cosmetic procedure of breast lifts, nose-reshaping, fat injection, liposuction, tummy tucks, facelifts and Botox.

“Hating Obama”Does Obama get disrespected because of his race or does every President endure this as part of the job?

“Bossip Comedy Series (Parts 1 & 2)”Laugh with subjects taken from the most popular Bossip content while following black comedians’ lives and performances.

“Side Piece”From “Scandal” to “Being Mary Jane,” the phenomenon of sidepieces (male or female) has become an accepted occurrence in our society.

“Pop Life”A film that examines the glorification of recreational drugs throughout all aspects of the entertainment business.

“Father Forgive Him”Explore the events that took place in the Eddie Long fiasco and touch base on the sensitive subjects of homophobia, sexuality and hiding within the black church.

“Dumb It Down”The downside of US urban culture is examined in the brutally-honest expose about “keeping it real” gone wrong.

“Where is the Love?”An exploration of the notion that Black women in America have the most difficult time finding love.


Instagram (FB) Video Ads are Officially Rolling Out Nationwide Oct 30, 2014 02:10PM

Facebook's (Nasdaq: FB) Instagram is rolling out video advertisements nationwide today.

AdWekk noted earlier that Instagram had been testing video ads in certain markets over the last six months. Well, all that's changed now.

Instagram's initial advertisers include Disney, Activision, Lancome, Banana Republic and CW. The 15-second, autoplay video ads will begin appearing today and roll out further over the next several weeks.

Shares of Facebook are down 2 percent on Thursday.


Bristol-Myers Squibb (BMY), Lonza Expand Manufacturing Pact Oct 30, 2014 01:01PM

Bristol-Myers Squibb Company (NYSE: BMY) and Lonza today announced a multi-year expansion of their existing biologics manufacturing agreement. The contract expansion will include the production of commercial quantities of a second Bristol-Myers Squibb biologic medicine at Lonza’s mammalian manufacturing facility in Portsmouth, New Hampshire. Financial terms were not disclosed.

Biologic medicines that treat serious diseases are an integral part of Bristol-Myers Squibb’s specialty care portfolio and R&D pipeline. Bristol-Myers Squibb and Lonza have been collaborating since 2003 to produce commercial supplies of a biologics medicine marketed by Bristol-Myers Squibb worldwide. Currently, Lonza also produces clinical supplies of an investigational biologics medicine for Bristol-Myers Squibb.

“Our expanded relationship with Lonza is an important example of our global manufacturing strategy to meet anticipated demand for our commercial biologics portfolio and prepare to bring our late-stage clinical assets to patients by supplementing our in-house manufacturing capabilities,” said Lou Schmukler, president, Global Manufacturing & Supply, Bristol-Myers Squibb.

Lonza’s development and manufacturing facilities offer proven expression systems and established platform processes for streamlined scale-up throughout the clinical pipeline. In addition to its state-of-the-art Portsmouth facility, Lonza offers three additional clinical-to-commercial mammalian production facilities in Tuas, Singapore; Porrino, Spain; and Slough, United Kingdom.

"We are pleased to extend our relationship with Bristol-Myers Squibb for the commercial production of their innovative drug substance, said Marc Funk, COO of Lonza’s Pharma & Biotech Segment. “This reinforces Lonza’s mission to support life-saving medicines by being a reliable supplier of drug substance for our customers with high-quality commercial GMP manufacturing services delivered to the market.”


GT Advanced Technologies (GTATQ), Apple Lose Bid to Keep Declaration Under Seal - Bloomberg Oct 30, 2014 12:19PM

GT Advanced Technologies (OTCBB: GTATQ) and Apple have lost a bid to keep declaration under seal, according to Bloomberg. The judge in the case will keep pricing information under seal, but he generally unseals the executive's statement.


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