SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
| Date of Report (Date of earliest event reported) | August 28, 2008 (August 22, 2008) |
| DEBUT BROADCASTING CORPORATION, INC. |
| (Exact name of registrant as specified in its charter) |
| NEVADA | 000-50762 | 88-0417389 |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
| 1209 16th Avenue South, Suite 200 | | |
| Nashville, Tennessee | | 37212 |
| (Address of principal executive offices) | | (Zip Code) |
| Registrant’s telephone number, including area code | (615) 866-0530 |
| N/A |
| (Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement.
On August 22, 2008, Debut Broadcasting Mississippi, Inc. (the “Company”), a wholly-owned subsidiary of Debut Broadcasting Corporation, Inc., entered into a Time Brokerage Agreement (the “Agreement”) with Grace Media International (“GMI”) pursuant to which the Company will purchase from GMI broadcast time and programming with respect to that certain radio station identified as WQBC AM, 1420 Mhz, in Vicksburg, Mississippi for $1,500 per month. The Agreement is effective as of August 15, 2008 and commences on September 1, 2008. The Company will also pay all normal and customary expenses of the radio station including electric, royalty, telephone, insurance and rent expenditures. Except for the Agreement, there is no material relationship between Grace Media International and the Company or its affiliates.
The description of the Agreement set forth herein does not purport to be complete and is subject to and qualified in its entirety by reference to the text of the Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated herein by reference.
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Item 9.01. | Financial Statements and Exhibits. |
| (a) | | Financial Statements |
| | | None. | |
| | | | |
| (b) | | Pro Forma Financial Statements |
| | | None. | |
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| (d) | | Exhibits | |
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| | | Exhibit 10.1 | Time Brokerage Agreement with Grace Media International, dated as of August 15, 2008. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Debut Broadcasting Corporation, Inc. | | | |
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| /s/ Sariah Hopkins | | | |
Sariah Hopkins | | | |
Executive Vice President, and Chief Financial Officer
Date: August 28, 2008 | | | |
EXHIBIT INDEX
| | |
Exhibit Number | Description |
| 10.1 | Time Brokerage Agreement with Grace Media International, dated as of August 15, 2008. |
