The corporate struggle at this little-known company, which is key to the pay TV business, just became a little more interesting. New Frontier announced last night that Michael Weiner “has been terminated” as CEO. It gave no explanation for the decision to oust Weiner, who co-founded New Frontier in 1995. While the board looks for a full-time replacement, the top job will be shared by CFO Grant Williams, Chief Legal Officer Marc Callipari, and Chief Technology Officer Scott Piper. A longtime director, Alan Isaacman, replaced Weiner as chairman. His firing comes as New Frontier’s board tries to chart a path for the company’s future, including a possible sale. The company has received bids from investment firm Longkloof as well as from Luxembourg-based Manwin, which bought Playboy TV late last year.
New Frontier produces VOD features, it also offers the Penthouse TV premium channel and pay-per-view services packaged as The Erotic Networks (or TEN) that include Xtsy, Juicy, and VaVoom. New Frontier’s stock has lost more than 78% of its value over the last five years, in part due to growing competition from the Internet. But the share price is up 33% so far in 2012 as investors looked forward to the prospect of a sale. The company hired Alston & Bird and Avondale Partners to advise a special board committee weighing options; Holland & Hart is also advising the company.


Folks, this is a volatile stock that I have been watching for a while. With the ousting of this CEO, this company is going to very likely change its board-room culture of sucking the profits dry (no pun intended) by bonus-ing themselves, etc. The company has a ton of capital in the bank, keeping it robust and extremely agile in the sense that NOOF can roll up other content owners’ vaults at a fraction of value. This stock is on the verge of skyrocketing. Look into it.
Dear poster above. So basically you are down on your investment and are trying to pp the stock on a message board.
The guy running a porn company is named Weiner?
What did you expect when the guy fired is names Weiner? Talk about irony.