posted
Board pushed at gay TV channel Larry Buhl, GAY.COM/PlanetOut Network Thursday 9 March, 2006 11:26 | From uk.gay.com
After gay TV stations folded in the UK and other European countries, the problems for American channel Q Television Network continue to grow.
Less than a month after laying off most of its staff, the financially troubled QTN, one of three television networks in the United States with primarily lesbian and gay content, has ousted its top management in hope of pulling itself back into the black.
The company reported on Tuesday that investor Lloyd Fan, who was recently brought in as president, would replace company founder Frank Olsen as chairman and CEO of QTN and parent Triangle Multi-Media. In addition, Fan has replaced the board and top management, including Olsen and other top executives.
"Effective today, all Triangle Multi-Media Limited and QTN officers and board of directors have resigned their positions and have relinquished all responsibilities and affiliations," said a prepared statement from Q. "Details of the new management infrastructure, with an emphasis on both television and finance industry, will be forthcoming."
QTN is available to 3 million cable subscribers in several cities, but is still not available in many major markets.
The company came under fire last month for laying off the majority of its staff while owing them a month's pay, leading to speculation that the company would go under. At that time, a spokesman for the network told GAY.com that Q would stay afloat and that the new management structure would ultimately succeed.
"I am committed to building an exceptionally strong, experienced management team, fortifying QTN's business partnerships and strengthening the network's commitment to providing high-quality, engaging television programming focused on the GLBT community," Fan said in a prepared statement.
Lloyd Fan runs Best Prop Holding Group and has a long career in corporate finance, manufacturing, international trade and patenting throughout Asia, according to a company press release. However, he has no experience in television or entertainment.
QTN executives refused to comment for this story.
However, laid-off employees -- who have still not been paid for the month of January -- have a lot to say.
Vanessa Mayer, a graphics generator who was laid off February 1st, lays the blame for the company's hard times on Olsen's management skills. "The only reason the changes are happening is that Q needed money and nobody would give them money with Frank (Olsen) as the head of the company," she told GAY.com.
"It's funny that they say Q's new emphasis will be on television and finance," Mayer said. "They're a television network. What was their emphasis before?"
Jane Bloom, a production coordinator, told GAY.com that even though they are waiting to be paid for the entire month of January, she and most of the former staffers have moved on.
"I think it's not a question of getting hired back, but a matter of when we get the money they owe us," she said. Bloom ended up taking a survival job at a health club while looking for television production work.
Less than 10 out of more than 100 laid-off staffers have been asked back to the network, and only as independent contractors at less than their previous wages.
Both Mayer and Bloom say the consensus among the still-close staffers is that nothing Q Television could do at this point would undo the damage to its reputation.
"Nobody with any TV experience is going anywhere near Q to look for a job," Mayer said. Bloom concurred: "Almost everyone I've interviewed with say they heard about what happened at Q and that it's very screwed up."
-------------------- "Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety."
- Benjamin Franklin Posts: 3898 | Registered: Dec 2005
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posted
This two statements pretty much hits the nail on the head...
"The only reason the changes are happening is that Q needed money and nobody would give them money with Frank (Olsen) as the head of the company," she told GAY.com.
"It's funny that they say Q's new emphasis will be on television and finance," Mayer said. "They're a television network. What was their emphasis before?"
Posts: 1124 | From: DC/VA | Registered: Jul 2005
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posted
"Lloyd Fan runs Best Prop Holding Group and has a long career in corporate finance, manufacturing, international trade and patenting throughout Asia, according to a company press release. However, he has no experience in television or entertainment."
Things are looking better and better...
-------------------- "Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety."
- Benjamin Franklin Posts: 3898 | Registered: Dec 2005
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posted
I would rather have somebody with deep pockets, or business/financial knowledge running TMM/QTN. They can always hire the "right" people to run the network, rather than to have to have Frankie the Fraudster at the helm. We saw how far it got us. Frankie the Fraud may have had the GLBT "wet dream" (his words), but he obviously did not have what it takes to run a business. I personally think he squandered all of the money because of poor business decisions, including elaborate parties, parades, sponsorships and lawsuits. Furthermore, I never did believe the story about the investor dying, that sounded too fishy. Kinda, like, the dog at my homework or the dog at the audit.
quote:Originally posted by Gordon Bennett: "Lloyd Fan runs Best Prop Holding Group and has a long career in corporate finance, manufacturing, international trade and patenting throughout Asia, according to a company press release. However, he has no experience in television or entertainment."
I meant the dog ate my homework or the dog ate the audit.
quote:Originally posted by Dew-it: I would rather have somebody with deep pockets, or business/financial knowledge running TMM/QTN. They can always hire the "right" people to run the network, rather than to have to have Frankie the Fraudster at the helm. We saw how far it got us. Frankie the Fraud may have had the GLBT "wet dream" (his words), but he obviously did not have what it takes to run a business. I personally think he squandered all of the money because of poor business decisions, including elaborate parties, parades, sponsorships and lawsuits. Furthermore, I never did believe the story about the investor dying, that sounded too fishy. Kinda, like, the dog at my homework or the dog at the audit.
quote:Originally posted by Gordon Bennett: "Lloyd Fan runs Best Prop Holding Group and has a long career in corporate finance, manufacturing, international trade and patenting throughout Asia, according to a company press release. However, he has no experience in television or entertainment."
posted
well, here's my effort to mr fan...let you know of any response....lol
Mr. Fan:
i speak for myself only, but be assured that there are many with these thoughts. as long time investors/shareholders, we are understandably interested and concerned about the status and direction of this enterprise.
first, welcome to our nightmare. i mean that with the most positive of intentions. there are many questions, and i am sure you will be addressing them with the utmost haste. for now, know that there are long-suffering shareholders glad to see your arrival, and eager for your success.
i am sure that for you to have gotten involved with this entity (Triangle Multimedia and it's various holdings), you would have to know the corporate and financial structure of this entity. else you wouldn't know what you are getting for YOUR investment in this entity, let alone where you are starting from.
the folks that have funded this public entity, the shareholders, are entitled to know that information. on behalf of all the shareholders, i would request that you release to us that known information.
there are many directions all of this can go. we will be awaiting your thoughts and plans for the future.
i am a long-time investor/shareholder and wish you the best of luck and great success. thank you for your time and hopeful response. contact me anytime.
posted
yes but a good business man knows to hire the right people for the job, AND let them look after it.
Frank hired the right people but would not allow them to do what they do best.
Frank had his fingers into too much that he really should have let his tallent do.
that was his big failure.
Rod
quote:Originally posted by Gordon Bennett: "Lloyd Fan runs Best Prop Holding Group and has a long career in corporate finance, manufacturing, international trade and patenting throughout Asia, according to a company press release. However, he has no experience in television or entertainment."
Things are looking better and better...
-------------------- Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.
This is a non reporting pink sheet with very high risk. From high risk comes high rewards. Dont invest more then you can afford to lose. Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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posted
Now I do have one question and it is, has anyone checked on the A/S lately to see if they have increased or decreased? I am now sitting on the sidelines awaiting FANtastic news. I hadn't seen that one so I thought I would use it.
-------------------- Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.
This is a non reporting pink sheet with very high risk. From high risk comes high rewards. Dont invest more then you can afford to lose. Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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posted
I hope you're right! I'm looking forward to the next month or two to see what develops.
quote:Originally posted by Penny-Trader: yes but a good business man knows to hire the right people for the job, AND let them look after it.
Frank hired the right people but would not allow them to do what they do best.
Frank had his fingers into too much that he really should have let his tallent do.
that was his big failure.
Rod
quote:Originally posted by Gordon Bennett: "Lloyd Fan runs Best Prop Holding Group and has a long career in corporate finance, manufacturing, international trade and patenting throughout Asia, according to a company press release. However, he has no experience in television or entertainment."
Things are looking better and better...
-------------------- "Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety."
- Benjamin Franklin Posts: 3898 | Registered: Dec 2005
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posted
yesterday someone posted ( i believe it was QBID'n) that it had not changed.
rod
quote:Originally posted by buckwheatbob: Now I do have one question and it is, has anyone checked on the A/S lately to see if they have increased or decreased? I am now sitting on the sidelines awaiting FANtastic news. I hadn't seen that one so I thought I would use it.
-------------------- Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.
This is a non reporting pink sheet with very high risk. From high risk comes high rewards. Dont invest more then you can afford to lose. Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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quote:Originally posted by buckwheatbob: Now I do have one question and it is, has anyone checked on the A/S lately to see if they have increased or decreased? I am now sitting on the sidelines awaiting FANtastic news. I hadn't seen that one so I thought I would use it.
Good to see you BWB. Here is the information again if you would like to check the corporation status.
360-753-7115 (option 5) or press 0 for live operator.
TMM UBI 601 047 757 QTN UBI 602 391 767
Posts: 1236 | From: The Bluegrass State | Registered: Sep 2005
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posted
Actually I trust your comments on this , so no need to check. In one way I am a little disappointed that it did not decrease but I guess anything can happen now that Frank has been shipped off to Gilligan's Island.
Thanks
quote:Originally posted by QBID'n:
quote:Originally posted by buckwheatbob: Now I do have one question and it is, has anyone checked on the A/S lately to see if they have increased or decreased? I am now sitting on the sidelines awaiting FANtastic news. I hadn't seen that one so I thought I would use it.
Good to see you BWB. Here is the information again if you would like to check the corporation status.
360-753-7115 (option 5) or press 0 for live operator.
-------------------- Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.
This is a non reporting pink sheet with very high risk. From high risk comes high rewards. Dont invest more then you can afford to lose. Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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A PR in the morning would be GREAT! I am ready to find out if QBID will turn around or will it just HIT THE FAN....LOL(sorry )
quote:Originally posted by Doctoall: For what it is worth. There is a conference call taking place right now with Mr. Fan, Richard Brown and other partners of "Q". It is my understanding that hopefully we will get some news by Friday. What the news will be, who knows but as Richard stated he is being optimistic as this point.
The call has been in progress for about 2hrs at this tme.
quote:Originally posted by Rich735: A PR in the morning would be GREAT! I am ready to find out if QBID will turn around or will it just HIT THE FAN....LOL(sorry )
quote:Originally posted by Doctoall: For what it is worth. There is a conference call taking place right now with Mr. Fan, Richard Brown and other partners of "Q". It is my understanding that hopefully we will get some news by Friday. What the news will be, who knows but as Richard stated he is being optimistic as this point.
The call has been in progress for about 2hrs at this tme.
Yes it would!!!! Richard indicated that he wanted to have a PR by this Friday. But what kind of PR will it be???
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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A PR announcing a buyback or reduction of the AS, OS, or an invitation to a steak dinner won't mean didly. imo
There is way too much negative news out there now that would stop any new investor from investing at this point.
Maybe Fan will do one of two things. Along with the usual PR'd blah blah blah, he'll either announce to have an audit ready in 30-60 days...or he'll announce the r/s and start from scratch.
But thats just my rookie thought. Posts: 1236 | From: The Bluegrass State | Registered: Sep 2005
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posted
its already cleaned up lol Frank is gone. lol
that is a load of cleansing in itself.
but he is going to have to settle out the debts of the workers that where layed off, to gain any type of credibility in the industry. If he doesnt do that, then he might as well pull the plug right now.
now im off to bed
nighty night.
Rod
-------------------- Dont buy or sell on my opinions, do your research. Make sure you know what you are buying before you buy.
This is a non reporting pink sheet with very high risk. From high risk comes high rewards. Dont invest more then you can afford to lose. Posts: 4801 | From: Prescott, ON, Canada | Registered: May 2004
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a letter to richard. i attached my fan letter for him to forward in case other efforts fail.
good luck all...
richard--
well, thought i would send this off to you to see if you could forward this to our new fearless leader. as far as i know, you are still our 'IR' guy right?
speaking of which, when can we expect the paperwork to be filed with the state of Washington installing Fan, and removing Olsen?
then there are the other questions...audit, share structure, gay games, etc. soon?
ok. will you please forward this along? i'll add as attachment fan1. again, thanks for your time and efforts.
sincerely,
[ March 10, 2006, 07:23: Message edited by: King Crimson ]
Posts: 702 | From: usa | Registered: Apr 2004
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posted
Dont forget ! Frankie promised us that so long as He was CEO of QTN there would be NO REVERSE SPLIT. WELL GUESS WHAT ??
Fan is the NEW CEO.
I SMELL an R/S coming QUICK ! I also suspect an ISSUANCE of Millions MORE SHARES.
Hold ON to your BOOTS.
Earth_Shaker OUT !
-------------------- "When you have got an elephant by the hind legs and he is trying to run away, it's best to let him run." ...... Abe Lincoln ...... 1.5 million Strong :) Posts: 983 | From: Bethel Island, Ca. 94511 | Registered: Feb 2004
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