to restart publication of FM on a quarterly basis, offered Ackerman the position of editor-in-chief for a fee of $2,500 per issue, which he accepted. Starting at issue #200, the new Famous Monsters acquired subscribers and over-the-counter buyers who believed they would be reunited with Ackerman in print. While Ferry tried to maintain Ackerman's style in his own writings, he heavily edited and rejected contributions from the man himself. In an effort to help Ferry finance his full-time efforts on behalf of FM, Ackerman agreed to a reduced editor's fee of $1,500 per issue. With four consecutive unpaid issues and a continued rejection of his work, Ackerman resigned from his position. Aside from removing Ackerman's name from the masthead, Ferry did not inform FM readers that they were no longer reading material by, or authorized by, Ackerman. Instead, Ferry infused his writing with Ackerman's trademark puns, and mimicked his writing style, which led to legal action brought forth by Ackerman. Libel lawsuit In 1997, Ackerman filed a civil lawsuit against Ferry for libel, breach of contract, and misrepresentation; Ferry had publicly claimed that Ackerman's only connection with the new FM was as a hired hand and that Ferry “had to let Forry go” because he was no longer writing or editing for the magazine. Ferry also claimed rights to pen names and other personal properties of Ackerman. On May 11, 2000, the Los Angeles Superior Court jury decided in Ackerman's favor and awarded him $382,500 in compensatory damages and $342,000 in punitive damages. This verdict was appealed by Ferry, but the verdict was upheld by the Appellate Court of California, on November 12, 2002. With judgments in Ackerman's favor, Ferry filed for bankruptcy. As of mid-2007, Ferry had been allowed to continue to publish issues of FM due to lack of efforts on the part of bankruptcy trustees and Ackerman's lawyers to force the sale of the trademark or personal assets attached to his income. Ferry had also failed to pay any of the $720,000-plus cash judgment against him. 2008 to present In late 2007, Philip Kim, an entrepreneur and a private equity investor, purchased the rights to the logo and title, entering into an agreement with Ackerman to use his trademarks to retain the magazine's original look and feel. The new Famous Monsters of Filmland website was launched in May 2008 and on December 7, 2009, Kim announced the