Former Nickelodeon General Counsel Judith A. McHale Nominated To Be Appointed To Yellow Media's New Board Of Directors

From PRNewswire via The Sacramento Bee:

Yellow Media Announces Proposed Nominees to New Board of Directors

MONTREAL, Aug. 31, 2012 -- /CNW Telbec/ - Yellow Media Inc. (TSX: YLO) announces today the nominees that are proposed to be elected as part of its previously announced plan of arrangement and recapitalization. The following individuals will be appointed to the new Board of Directors of the company upon the plan of arrangement and recapitalization becoming effective, which is expected to occur by September 30, 2012, and will succeed to the current Board of Directors of the company:

Craig Forman Robert MacLellan Kalpana Raina
David Lazzarato Martin Nisenholtz Michael G. Sifton
David G. Leith Judith A. McHale Marc P. Tellier

As previously disclosed by the company in a press release dated July 23, 2012 and its management proxy circular dated July 30, 2012, the proposed nominee directors were selected as part of an extensive process completed by the Search Committee. Among the proposed nominee directors, Craig Forman, David G. Leith, Martin Nisenholtz and Marc P. Tellier are members of the company's current Board of Directors, and David Lazzarato, Robert MacLellan, Judith A. McHale, Kalpana Raina and Michael G. Sifton would be serving as directors of the company for the first time.

Additional information with respect to the proposed members of the new Board of Directors may be found on the attached Schedule "A" to this press release. Except as disclosed therein, none of the proposed nominee directors hold shares or other securities of Yellow Media Inc. This press release is incorporated by reference in, and should be read together with, the company's management proxy circular dated July 30, 2012.

Meetings of Debtholders and Shareholders

Yellow Media also wishes to remind its debtholders and shareholders that meetings will be held at the Palais des congrès, 1001 Place Jean-Paul-Riopelle, Room 510, Montreal, Québec, H2Z 1H5, on September 6, 2012 for purposes of voting on the proposed recapitalization. Debtholders and shareholders are urged to give serious attention to the recapitalization. It is extremely important for Yellow Media's future that the recapitalization be approved and implemented without delay and the company recommends that debtholders and shareholders vote in favour of the recapitalization. Proxies must be received no later than 4:00 p.m. (Montreal time) on September 5, 2012.

Further Information

Debtholders and shareholders should now have received, either directly from Yellow Media or through their intermediary, a copy of the management proxy circular dated July 30, 2012 with respect to the proposed recapitalization.

A copy of the management proxy circular and further information about the recapitalization are available on SEDAR (www.sedar.com and the company's website www.ypg.com).

A Questions & Answers document specific to the recapitalization is also available on the company's website.

If you have any questions or need assistance completing your proxy or voting instruction form, please call Kingsdale Shareholder Services Inc. at 1-800-749-9197 or email contactus@kingsdaleshareholder.com.

About Yellow Media Inc.

Yellow Media Inc. (TSX: YLO) is a leading media and marketing solutions company in Canada. The company owns and operates some of Canada's leading properties and publications including Yellow Pages™ print directories, YellowPages.ca™, Canada411.ca and RedFlagDeals.com™. Its online destinations reach approximately 8 million unique visitors monthly and its mobile applications for finding local businesses and deals have been downloaded more than 4 million times. Yellow Media Inc. is also a leader in national digital advertising through Mediative, a digital advertising and marketing solutions provider to national agencies and advertisers. For more information, visit www.ypg.com.

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements about the objectives, strategies, financial conditions, results of operations and businesses of the company. These statements are forward-looking as they are based on our current expectations, as at August 31, 2012, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed in section 7 of our August 9, 2012 Management's Discussion and Analysis. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason. The implementation of the recapitalization is subject to a number of conditions provided in the plan of arrangement under the Canada Business Corporations Act, including, without limitation, court and any required regulatory approvals (including stock exchange approvals). The implementation of the recapitalization is also subject to a number of other risks and uncertainties, including, without limitation, those described in the section "Risk Factors" of the company's management proxy circular dated July 30, 2012 prepared in connection with the Meetings. Accordingly, there can be no assurance that the recapitalization will occur. The recapitalization could be modified, restructured or terminated.

Schedule "A"

Proposed Nominee Directors

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Judith A. McHale New York, United States

Judith A. McHale is the President and Chief Executive Officer of Cane Investments, LLC, a private investment company focused on providing early stage capital and strategic advice and assistance to start-up companies around the world. Prior to her current position, Ms. McHale was appointed in 2009 as the Under Secretary of State for Public Diplomacy and Public Affairs in President Barack Obama's Administration, where she acted as a senior officer in the Department of State and a principal advisor to Secretary of State Hillary Clinton until 2011. Ms. McHale served at Discovery Communications, the parent company of the Discovery Channel, from 1995 to 2006, including as President and Chief Executive Officer from 2004 to 2006, Chief Operating Officer from 1995 to 2004 and Executive Vice President and General Counsel from 1989 to 1995. Prior to that, Ms. McHale served as General Counsel for MTV Networks, overseeing legal affairs for MTV, Nickelodeon and VH-1.

Ms. McHale serves on the Board of Directors of Ralph Lauren Corp. She has also served on the Boards of Directors of John Hancock Financial Services Corp, Potomac Power and Electric Company (PEPCO), Host Hotels and Resorts, Inc. and Digital Globe, Inc. Ms. McHale is a graduate of the University of Nottingham (UK) and Fordham University Law School (New York), and has received honorary degrees from the University of Maryland, American University, the University of Miami and Colby College.

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SOURCE Yellow Media Inc.