An heir to a Westchester media services company claims that the widow and the domestic partner of the former top two executives have assumed control of the assets.
Joseph J. Feldman is seeking the dissolution of GF Media Inc., of Hawthorne, and the appointment of a receiver to ensure fair distribution of company shares, in a complaint filed Sept. 28 in Westchester Supreme Court.
George Feldman, a former television executive, founded GF Media in 1990. By 1996, it was operating as Effective Media Services.
Kehoe, a former Fox Cable Network executive, joined the company in 2004.
GF Media uses Nielsen Media Research data to identify audiences for specific programs and finds ways to promote the programs to those audiences. Its clients include broadcast and cable television networks such as Disney, ESPN, Fox and Univision.
Last year, GF Media booked $3.5 million in revenue, according to the complaint.
In 2018, Feldman and Kehoe took out $1 million “key-man life insurance” policies on their lives, to provide funds to the company when they died.
Also in 2018, according to the complaint, Feldman withdrew from day-to-day operations and relocated to Florida and began a romantic relationship with Catherine Varites.
Kehoe assumed day-to-day control of the business.
Feldman suffered from Lewy body dementia, according to Joseph’s complaint, and by early 2019 he was easily confused and unable to travel more than a few blocks from home without losing his way.
He died in June 2022, and the proceeds from his key-man insurance policy went to the company.
His estate controlled 70% of the company shares and Kehoe controlled 10%. The rest was held at 5% each by four of his five children, including Joseph.
Upon death, Feldman’s shares were to be distributed to trusts for his children, Joseph claims, but the estate administrator, Varites, has allegedly failed to do so.
This past June, Brendan Kehoe died, leaving GF Media without any officers or directors.
The proceeds of his key-man life insurance policy did not go to the company. Instead, Brendan Kehoe had allegedly changed the beneficiary to his wife, Wendy Ahn Kehoe, “without telling anyone associated with GF Media.”
Joseph claims that Wendy Kehoe has since assumed control of the business and plans to buy the controlling shares at a “fire sale” price.
Varites, who controls 70% of the shares as the estate administrator, has allegedly failed to appoint a board of directors, manage the business or collect and distribute dividends to the shareholders.
Joseph Feldman accuses Varites of breach of fiduciary duty, and Wendy Ahn Kehoe of conversion of assets and unjust enrichment.
Varites declined to discuss the case and her attorney, Edward Wollman, of Fort Myers, Florida, did not immediately respond to a message asking for his client’s side of the story. Attempts to contact Wendy Ahn Kehoe failed.
Joseph Feldman is represented by Manhattan attorneys Paul Grossman and Jay R. McDaniel.
