logo
Share SHARE
FONT-SIZE Plus   Neg

New Frontier Retains Financial Advisor To Assist In Evaluating Alternatives

New Frontier Media, Inc. (NOOF) announced that the Special Committee of the Board of Directors of the company has retained Avondale Partners, LLC as its financial advisor to examine and consider a broad range of strategic alternatives.

The company state that the strategic review will evaluate the Company's current long-term business plan against a broad range of alternatives that have the potential to maximize shareholder value. The process to review strategic alternatives will be overseen by the Special Committee of independent directors that, as previously announced, is also evaluating the recent unsolicited non-binding acquisition proposals that were recently received by New Frontier Media.

The Special Committee is also being assisted by its legal advisor, Alston & Bird LLP. New Frontier Media is being advised by Holland & Hart LLP, the company said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations. Google is planning to significantly expand a carpool service on its navigational app Waze, according to a report in the Wall Street Journal. The move indicates the company is edging closer to a potential clash with ride-hailing service Uber Technologies Inc.
comments powered by Disqus
Follow RTT