Ion's Goodman exits board, top posts
EmptyNEW YORK -- Ion Media Networks Inc. president and chief operating officer Dean Goodman has resigned his post and a seat on the board of directors, the company said Monday.
Goodman had been with the company since 1993, when it was Paxson Communications Corp. Formerly president of Paxson's television group, Goodman had been in charge of the company's operations and governmental relations. He also is a board member for the National Association of Broadcasters.
Ion announced Goodman's departure late Monday, saying he was leaving "to pursue other interests." Ion couldn't be reached for further comment.
Goodman's existing contract was to expire Nov. 7, 2008. He won't be replaced; Ion said his responsibilities would be reassigned to other senior management. In a U.S. Securities and Exchange Commission filing, Ion said CEO R. Brandon Burgess would take on the additional title of president.
An SEC filing Monday said Goodman would receive $3 million for the termination of his employment plus two years of health benefits, a life-insurance policy the company held on him as well as $374,000 from his supplemental executive retirement plan in January. Goodman's base salary was $800,000 annually, according to the company's annual proxy statement.
In a separate agreement filed with the SEC, Ion said Goodman had agreed not to participate in lobbying, legislative or otherwise, or become involved with companies that will oppose governmental regulations on digital multicast must-carry, support cable television systems generally or oppose "the interests of network television broadcasts generally or the interests of the company specifically" until Dec. 31, 2009. That doesn't mean Goodman can't work for what Ion called a company "whose business is diversified" as long as he doesn't directly or indirectly "render services or assistance to any division or part of such Person that is in any way engaged in such activities."
Ion also said the executive agrees "not to provide services in any capacity ... with respect to any matter relating to or involving the company" to two entities, labeled "x" and "y." Ion said in its filing that it had omitted the names of the entities because of a request for confidentiality.
Attempts to contact Goodman and Ion late Monday were unsuccessful.