StartUp.com Star Named Roo’s CEO
We kid you not. In quick response to their board of directors abandoning ship, Roo Media Group named Kaleil Isaza Tuzman, currently the CEO of JumpTV, their new CEO and Chairman.
According to the press release, Tuzman and his KIT Capital Ltd. has been granted the right to purchase up to 51% of the preferred class of shares in the Company at US$0.38 per share. KIT Capital has the option to invest up to US$5 million in common shares of the Company at US$0.16 per share, a 15% premium to the closing price yesterday, December 18th, 2007.
Tuzman is probably best remembered to layfolks as the star of the 2001 documentary, “StartUp.com,” a film about life in the first dot-com bubble and their company, GovWorks.com, which burned through nearly $60 million in 18 months.
In related news, JumpTV Inc. (AIM: JTV) announced that it had bought back 25,000 common shares at an average price of Cdn$2.20 per share.
Tags: , kit capital, Roo, startup.com, tuzman
December 20th, 2007 at 1:47 pm
Not so sure this is a terrible thing. Surely he learned from the mistakes made at the beginning of the decade.
He has plenty of reasons ($s) to see that Roo does well now.
I listened to the conf. call yesterday and one item of note stuck out. He says he intends to see this company listed on Nasdaq.
As noted previously here the puzzle pieces are there. Maybe this guy can put the puzzle together.
December 20th, 2007 at 2:08 pm
We’re not suggesting that its a bad thing either. But the irony sure is worth mentioning. Life imitating art, so to speak.