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TM Entertainment and Media hires adviser
By Lisa Kerner
Charlotte, N.C., March 4 - TM Entertainment and Media, Inc. retained MacKenzie Partners, Inc. as its proxy solicitor and adviser.
MacKenzie Partners will assist TM Entertainment with its consent revocation solicitation against Opportunity Partners LP, with its 2009 annual meeting and with any special meeting of stockholders to approve a business combination between TM Entertainment and a target company, a TM Entertainment news release said.
In December, Opportunity Partners said it planned to submit two proposals and a slate of four nominees for election to TM Entertainment's board of directors.
As previously reported, the first proposal asks the board to take action to dissolve the company and make a liquidating distribution to the public shareholders.
Opportunity Partners said it will also propose a bylaw to increase the size of the board to seven directors from four, effective at the shareholder meeting.
TM Entertainment, based in New York, does not have significant operations.
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