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| Bizarre Buzztime stock market news http://www.scaratings.com/newScaratings/viewtopic.php?f=43&t=4013 |
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| Author: | STRO [ Thu Aug 13, 2020 9:01 am ] |
| Post subject: | Bizarre Buzztime stock market news |
This being Buzztime, I do not use the term "bizarre" lightly, but this news is weird. Buzztime is going to merge with a company named "Brooklyn ImmunoTherapeutics LLC." It is a medical cancer research company. What does that have to do with trivia? Nothing! Why is this happening? It looks like this Brooklyn company, which is privately owned, is essentially buying a listing on a stock market. Maybe this might also be a convoluted way for the Brooklyn company to get some PPP money Does the merged company plan to keep running trivia? Doesn't look like it, at least not if they can help it. To quote Buzztime's CEO, "We are also continuing to explore the sale of substantially all of the assets of our current business to provide additional capital and to allow the combined company to focus exclusively on Brooklyn’s business following the merger. While we are in discussions with multiple parties who are interested in purchasing those assets, no definitive agreement has been entered into to date." So the company has gone from avoiding going out of business involuntarily to trying to go out of business. Here is the link to the press release: https://www.marketwatch.com/investing/Stock/NTN/SecFilings?subview=secarticle&sid=7099&guid=14329814&type=8 |
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| Author: | Stejjie [ Thu Aug 13, 2020 7:53 pm ] |
| Post subject: | Re: Bizarre Buzztime stock market news |
Leave it to NTN to go under through a reverse IPO: cannibalized for its public listing a day after getting yet another delisting notice. It was a fun 25 years of trivia for me.... |
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| Author: | AARDVK [ Thu Aug 13, 2020 10:27 pm ] |
| Post subject: | Re: Bizarre Buzztime stock market news |
Clearly the end of NTN/Buzztime as a trivia host. Will there be any company interested in buying its assets, stepping into its shoes, and hosting under a new name? Seems doubtful under any circumstances, and particularly in a COVID-19 world where bars are closed or at lower capacity than before, and where people have lots of ways of getting trivia fixes, even if none of them include the unique experience provided by NTN/BT. A sad ending to a company that was ahead of its time and could have done so much to maximize itself if it had actually understood both its product and the users of its product. Brooke/AARDVK |
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| Author: | AARDVK [ Thu Aug 13, 2020 10:27 pm ] |
| Post subject: | Re: Bizarre Buzztime stock market news |
Clearly the end of NTN/Buzztime as a trivia host. Will there be any company interested in buying its assets, stepping into its shoes, and hosting under a new name? Seems doubtful under any circumstances, and particularly in a COVID-19 world where bars are closed or at lower capacity than before, and where people have lots of ways of getting trivia fixes, even if none of them include the unique experience provided by NTN/BT. A sad ending to a company that was ahead of its time and could have done so much to maximize itself if it had actually understood both its product and the users of its product. Brooke/AARDVK |
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