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With Burkle Lurking, Source Interlink Investigates Options.(Ron Burkle)

Mergers & Acquisitions Report

| March 13, 2006 | Hamerman, Joshua | COPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

The Street was intrigued by a possible sale of Source Interlink Cos. Inc. (SIC), of which Ron Burkle controls almost 35%. The $540 million market cap entertainment products and marketing services provider announced on March 2, after the market closed, the start of a strategic review.

SIC's shares rose 9% to $11.18 on March 3. At press time, the stock traded at $10.53 per share.

Bonita Springs, Fla.-based SIC distributes and markets entertainment products such as CDs, DVDs, magazines and books to supermarkets and other retail chains. The company, which has former California Governor Gray Davis on its board, serves 110,000 locations in North America, and also designs and installs wire fixtures and wood displays in some of those stores.

When asked if the review was prompted by outside interest, a company spokesman responded, "This decision was made very recently. To my knowledge, there have been no conversations with anyone outside of Source Interlink and its consultants." He added that, as far as he knew, no book had been distributed yet and no time frame was established.

The company hired The Yucaipa Cos. LLC to consult on the review process, according to the release, which also states Yucaipa and SIC signed a "consulting agreement" in February 2005. Burkle is Yucaipa's founder and managing partner. The agreement coincided with the appointment of Yucaipa partner, Michael Duckworth, to ...

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