ValueVision Media Inc: Key Developments
ValueVision Media, Inc.'s ShopNBC Completes Cable And Satellite Negotiations
October 19, 2009 |
| ValueVision Media, Inc. ShopNBC announced it has successfully completed negotiations with its cable and satellite providers pertaining to the carriage agreements that had expired at the end of the calendar year 2008. Of the 73 million households in ShopNBC's distribution footprint, these carriage agreements consisted of approximately 65% of these homes. |
ValueVision Media, Inc. Appoints Randy S. Ronning As Chairman-Form 8-K
June 25, 2009 |
| ValueVision Media, Inc. reported in its Form 8-K that Randy S. Ronning has been elected Chairman of Board of Directors, effective immediately. |
ValueVision Media, Inc.'s ShopNBC Announces Cost Reduction Actions
January 7, 2009 |
| ValueVision Media, Inc.'s ShopNBC announced cost reduction actions for fiscal 2009. The Company said it has restructured its organization and taken other cost reduction actions to bring greater focus on profitability, accountability and efficiency in key business units. As a result, the Company's salaried work force was reduced by approximately 11%, which is effective immediately. This represents a total reduction in the salaried workforce of 27% from fiscal 2007. Impacted team members were offered competitive severance and outplacement services. Additionally, the Company will suspend its 401(k) match for fiscal 2009, and there will be a salary freeze with no merit pay increases in the coming fiscal year. |
ValueVision Media, Inc.'s ShopNBC Says To Review Strategic Alternatives-Reuters
September 11, 2008 |
| Reuters reported that ShopNBC, a television shopping network operated by ValueVision Media, Inc. said that its Board has appointed a special committee to review strategic alternatives. The special committee has retained Piper Jaffray & Co as its financial adviser to assist in the strategic review process. |
ShopNBC Appoints CEO And President
August 22, 2008 |
| ValueVision Media, Inc.: ShopNBC announced that, effective immediately, its Board of Directors has appointed John D. Buck, to serve as the Company's Chief Executive Officer (CEO). Mr. Buck is currently Executive Chairman of the ShopNBC Board and served as Interim CEO of ShopNBC from November 2007 to March 2008. Mr. Buck replaces Rene Aiu, who is leaving ShopNBC and its Board of Directors. The Company also announced that the Board appointed Keith R. Stewart, a TV shopping veteran who recently served as a senior executive with QVC, to serve as ShopNBC's President and Chief Operating Officer. Both individuals will be members of the Board of Directors. |
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