I've never reported this before: Craig Dubow is on the board of directors of music licenser BMI because Gannett owns more than 10% of the private concern, according to a recently filed lawsuit BMI brought against Internet portal AOL.
The exact size of GCI's stake isn't disclosed in the so-called Rule 7.1 statement, filed a week ago in the complaint in U.S. District Court in Manhattan. It says: "Gannett Co. Inc., which is publicly held, owns directly or indirectly through a subsidiary more than 10% of BMI's stock."
On its website, BMI doesn't disclose any fees it pays to board members. GCI's former broadcasting division president, Cecil Walker, is presiding director on BMI's board.
Oddly, that BMI stake isn't disclosed in the company's most recent annual 10-K report or the shareholders proxy statement filings to the U.S. Securities and Exchange Commission.
In addition to his BMI seat, Dubow also is on the board of directors of the Associated Press.
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Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
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