NCMI, Standard General in deal to add board member

|By:, SA News Editor

In-cinema ad/marketing firm National CineMedia (NASDAQ:NCMI) has an agreement with top shareholder Standard General, in which the latter's Andrew Glaze will join the board within the next 30 days, replacing a departing Paula Williams Madison.

NCMI will also nominate up to two directors from Standard General (including Glaze's spot) at each of its annual meetings during the standstill period, provided an amended certificate of incorporation is approved.

Standard General is the company's biggest non-founding stockholder, with an 18.2% stake, according to the company's proxy.