Clinton Group Calls on Board of Digital Generation to Augment Its Board of
NEW YORK, Nov. 1, 2012
NEW YORK, Nov. 1, 2012 /PRNewswire/ -- Clinton Group, Inc. ("Clinton Group")
today announced that intends to nominate three independent directors to the
Board of Directors (the "Board") of Digital Generation, Inc. (Nasdaq: DGIT)
("Digital Generation" or the "Company).
Clinton Group noted that the share price of the Company has declined by more
than 48% in the year ended October 31, 2012.
In July 2012, the Company announced that it hired Goldman Sachs to help the
Company explore strategic alternatives.The Company's Executive Chairman has
indicated in public filings that he may be interested in acquiring the Company
and a Bloomberg News article indicated that Extreme Reach Inc. has also
expressed interest in acquiring the Company.
"As a large stockholder of the Company, we welcome a sale of the business at a
fair price to the Company's Executive Chairman or another buyer," said Mr.
Joseph De Perio, Senior Portfolio Manager at Clinton Group. "However, if the
Board cannot complete its strategic process by the annual meeting, we believe
it is in the interests of all stockholders to elect directors who can sell the
business quickly or help guide the Company to a brighter future as an
About Clinton Group, Inc.
Clinton Group, Inc. is a diversified asset management firm. Clinton Group has
been investing in global markets since its inception in 1991 with expertise
that spans a wide range of investment styles and asset classes. Clinton Group
is a Registered Investment Advisor based inNew York City.
CLINTON GROUP, INC., CLINTON MAGNOLIA MASTER FUND, LTD., CLINTON SPOTLIGHT
MASTER FUND, L.P. AND GEORGE HALL (COLLECTIVELY, "CLINTON") INTEND TO FILE
WITH THE SECURITIES AND EXCHANGE COMMISSION (THE "SEC") A DEFINITIVE PROXY
STATEMENT AND ACCOMPANYING PROXY CARD TO BE USED TO SOLICIT PROXIES FROM THE
STOCKHOLDERS OF DIGITAL GENERATION, INC. ("DIGITAL GENERATION") IN CONNECTION
WITH THE 2012 ANNUAL MEETING OF STOCKHOLDERS OF DIGITAL GENERATION. ALL
STOCKHOLDERS OF DIGITAL GENERATION ARE ADVISED TO READ THE DEFINITIVE PROXY
STATEMENT AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES FROM THE
STOCKHOLDERS OF DIGITAL GENERATION BY CLINTON, JOSEPH A. DE PERIO, PETER
MARKHAM AND MELISSA FISHER (COLLECTIVELY, THE "PARTICIPANTS") WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING
ADDITIONAL INFORMATION RELATED TO THE PARTICIPANTS. WHEN COMPLETED, THE
DEFINITIVE PROXY STATEMENT AND FORM OF PROXY WILL BE FURNISHED TO SOME OR ALL
OF THE STOCKHOLDERS OF DIGITAL GENERATION AND WILL, ALONG WITH OTHER RELEVANT
DOCUMENTS, BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT
HTTP://WWW.SEC.GOV. IN ADDITION, CLINTON WILL PROVIDE COPIES OF THE DEFINITIVE
PROXY STATEMENT AND ACCOMPANYING PROXY CARD (WHEN AVAILABLE) WITHOUT CHARGE
SOURCE Clinton Group, Inc.
Contact: Connie Laux, Clinton Group, Inc., +1-212-825-0400
Press spacebar to pause and continue. Press esc to stop.