GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry Into A Material Definitive Agreement. |
On December13, 2016, Global Eagle Entertainment Inc. (we, the
Company or GEE) entered into a new supply and services agreement
(the New Southwest Agreement) with Southwest Airlines Co.
(Southwest). The New Southwest Agreement supersedes the prior
Amended and Restated Supply and Services Agreement to which a
Company subsidiary was party with Southwest.
The New Southwest Agreement sets forth, among other things:
| (a) | Term extension through December31, 2025 |
| (b) | Full-term commitment for live television services |
| (c) |
Transition mid-2017 to monthly recurring charge per aircraft for Wi-Fi and TV |
| (d) | Additional rate card for ancillary services |
| (e) | Adoption of Fleet Management Plan |
| (f) | Commitment to develop ARINC 791-compliant hardware shipset |
| (g) |
Significant increase in user experience and network performance |
| (h) | Adoption of GEEs next-generation portal platform |
In addition, the New Southwest Agreement contains representations
and warranties, covenants, indemnities and other terms and
conditions typically included in agreements of this nature. The
term of the New Southwest Agreement is subject to early
termination in customary enumerated circumstances.
We have filed the New Southwest Agreement as Exhibit 10.1 hereto
and qualify the foregoing summary in its entirety by reference to
the actual agreement, which we incorporate by reference herein.
| Item7.01. | Regulation FD Disclosure. |
GEE will host a webcast to discuss the New Southwest Agreement
and related details on Wednesday, December14, 2016 at 5:30 AM PT
/ 8:30 AM ET. GEE will make the webcast accessible through the
Investor Relations section of its website at
http://investors.geemedia.com/events.cfm, along with a
supplementary slide presentation that we will also make available
on that section of the website and furnish to investors prior to
the call on a separate Current Report on Form 8-K. GEE will
archive a webcast replay and the slide presentation on its
website for 30 days following the event.
Item9.01. Financial Statements and Exhibits.
(d) Exhibits
We incorporate by reference herein the Exhibit Index following
the page to this Current Report on Form 8-K.
1
to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
| GLOBAL EAGLE ENTERTAINMENT INC. | ||
|
By: |
/s/ Tom Severson |
|
|
Name: Tom Severson |
||
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Title: Chief Financial Officer |
Dated: December13, 2016
2
EXHIBIT INDEX
|
ExhibitNo. |
Description |
|
|
10.1* |
Second Amended and Restated Supply and Services Agreement, dated December 13, 2016, by and between the Company and Southwest Airlines Co. |
| * |
Confidential treatment has been requested for certain portions omitted from this Exhibit |
About GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT)
Global Eagle Entertainment Inc. is a provider of aircraft connectivity systems, operations solutions and media content to the travel industry. The Company’s segments include Connectivity and Content. Its Connectivity segment provides airline partners and their passengers with Wireless Fidelity (Wi-Fi) connectivity over Ku-band satellite transmissions, and to a lesser extent operations solutions to airline customers. Its Content segment selects, manages and distributes wholly owned and licensed media content, video and music programming, applications, digital advertising solutions and games to over 150 airlines across the world, as well as to maritime and other away-from-home non-theatrical markets. The Company, through its product and services platform, provide airlines with a range of in-flight solutions, including Wi-Fi, movies, television, music, interactive software, as well as portable in-flight entertainment (IFE) solutions, content management services and e-commerce solutions. GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT) Recent Trading Information
GLOBAL EAGLE ENTERTAINMENT INC. (NASDAQ:ENT) closed its last trading session up +0.59 at 7.03 with 684,570 shares trading hands.