June 23, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — ACME Communications, Inc. (ACME.PK) is restructuring its corporate and station operations resulting from its recently announced LIN Media transaction.

Doug Gealy, a co-founder who currently serves as the company's president and chief operating officer, will become president and chief executive officer. Stan Gill, who currently serves as the vice president / general manager of the company's KWBQ / KASY duopoly in the Albuquerque-Santa Fe marketplace, will become the company's chief operating officer while still retaining his oversight of KWBQ and KASY. John Hannon, who currently serves as the vice president / general manager of WBDT, the company's Dayton station, will become the company's executive vice president. The three executives will oversee and manage all of the company's television stations, The Daily Buzz and manage the relationship with LIN Media. All three promotions are effective July 1, 2010.

In connection with the restructure, the company will significantly pare back the rest of its corporate staff. Effective mid-July 2010, Tom Allen, a co-founder of the company and its executive vice president and chief financial officer, will transition into a consulting role, and will assist Gealy in finding appropriate exit paths for the company. Allen will continue to serve on the company's board of directors.

Jamie Kellner, the company's co-founder and current chairman and chief executive officer, will continue to serve as chairman.

ACME Communications owns and operates six television stations serving markets covering 2.2% of the nation's television households.

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