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New Frontier Retains Financial Advisor To Assist In Evaluating Alternatives

New Frontier Media, Inc. (NOOF: Quote) 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.

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by RTT Staff Writer

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