Resolution of the Board of Directors of the Corporation for Public Broadcasting
April 29, 2002
Incorporating Literary Classics, Inc.
Unanimously
WHEREAS,
CPB previously provided substantial funding to ALT Films, Inc. ("ALT") to produce five films of American literature; and
WHEREAS,
ALT has advised CPB that ALT wants to dissolve its existence and it has offered CPB the opportunity to propose a manner in which ownership of the five films could be maintained; and
WHEREAS,
CPB has concluded that the most reasonable structure for the ownership of such films is the merger of ALT into a new nonprofit corporation expected to be named Literary Classics, Inc.; and
WHEREAS,
Literary Classics, Inc. would be the surviving entity of any such merger, and the initial directors will be the CPB Board Vice Chair, the CPB general counsel, and Marian Rees.
NOW, THEREFORE, BE IT RESOLVED,
that CPB management is hereby authorized and directed to organize and incorporate a new entity into which ALT can be merged, and
BE IT FURTHER RESOLVED,
that CPB management is hereby authorized and directed to execute any documents necessary or appropriate to incorporate such a new corporate entity and effect the merger of ALT with and into the new corporate entity.