Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Certain Principal Officers; Compensatory Arrangements of Certain Officers.

As previously reported on the Company's Form 8-K dated June 22, 2012, Janet Scardino was removed as a Director of the Company on June 18, 2012 and as Chief Executive Officer on June 19, 2012. On August 9, 2012, the employment of Ms. Scardino was terminated.

As also reported on the Company's Form 8-K dated June 22, 2012, Robert F.X. Sillerman, the Executive Chairman of the Company, was named the Chief Executive Officer by the Board of Directors on June 19, 2012.

Item 8.01. Other Events.

On August 13, 2012, the Company issued a press release relating to the appointment by Robert F. X. Sillerman of Benjamin Chen, a Director of the Company, to the Office of the Chairman, to advise and consult with Robert F.X. Sillerman, the Company's Chief Executive Officer. The Company also announced the termination of Ms. Scardino's employment.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits Exhibit No. Description 99.1 Press release dated August 10, 2012.

---