UNITED STATES
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):     February 11, 2010




IMAGINE MEDIA, LTD.

(Exact Name of Registrant as Specified in its Charter)



       Delaware       

       005-84223       

    26-0731818    

(State or other jurisdiction
of incorporation)

Commission File
Number

(I.R.S. Employer Identification

number)



1155 Sherman Street, Suite 307

          Denver, CO  80203         
(Address of principal executive offices)                    (Zip Code)


Registrant's telephone number, including area code:   (303) 813-1098


______________________________________________________

(Former name or former address, if changed since last report)



___

Written communications pursuant to Rule 425 under the Securities Act

___

Soliciting material pursuant to Rule 14a-12 under the Exchange Act

___

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

___

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act








ITEM 8.01

OTHER EVENTS


Effective February 11, 2010, Imagine Media, Ltd. (the “Company”) received e-mail notification from DMI Life Sciences, Inc. (“DMI”), a Denver, Colorado based biotechnology company that it had elected to terminate that certain non-binding letter of intent (the “LOI”) entered into by the parties effective January 22, 2010.  




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 thereunto duly authorized.


  

Imagine Media, Ltd.
(Registrant)

    
 

Dated: February 15,  2010

 

____/s/ Gregory A. Bloom              
Gregory A. Bloom, President




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