Community Chat

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From today's NYT:

After a seven-month battle, the activist hedge fund Clinton Group and the Internet and shopping network ValueVision Media have settled their differences.

ValueVision announced a new chief executive officer and a new board of directors on Monday. Mark C. Bozek, a former chief executive of the Home Shopping Network, will take the helm of the company as Keith R. Stewart steps down. Robert Rosenblatt will take over as nonexecutive chairman, succeeding Randy S. Ronning.

The move marks a victory for the Clinton Group, a $1.5 billion hedge fund, which placed ValueVision in its cross hairs last November and mounted a proxy battle. As things heated up, the fund called for Mr. Stewart, Mr. Ronning and four other ValueVision board members to step down. Among the nominees it put forward were Mr. Rosenblatt and Mr. Bozek.

Activist investors buy large stakes in companies they believe are undervalued or poorly managed and agitate for change.

The Clinton Group argued that ValueVision, which sells jewelry, appliances and watches, was in need of a makeover. For years, the company has underperformed its competitors, the Home Shopping Network and QVC. When the Clinton Group first began the rattle the cage at ValueVision, its network reached around 86 million satellite and cable homes, while the Home Shopping Network reached 95 million.

The announcement comes on the heels of the results of an annual meeting last week, during which shareholders voted in favor of four Clinton Group nominees and four ValueVision nominees. The new board appointed another member and a fifth Clinton Group nominee in Mr. Stewart’s place.

“ValueVision has great assets and our vision of all that comes next is ambitious,” Mr. Bozek said in a statement.

“We plan to evolve the business, creating more robust platforms that enable us to become a far more relevant player in the multichannel worlds of TV, online and mobile commerce and entertainment,” he added.

Among the new members of the board are senior executives from both the Home Shopping Network and QVC, as well as former network television and retail executives. Mr. Rosenblatt served as chief financial officer, chief operating officer and president of the Home Shopping Network.

The new board will include Mr. Bozek, Mr. Rosenblatt, Thomas Beers, John Buck, Ronald Frasch, Landel Hobbs, Lowell Robinson and Fred Siegel. In addition to Mr. Ronning and Mr. Stewart, Jill Botway, William Evans and Sean Orr will leave the company.

[croemer]

Have you been reading about the mess at ShopNBC gato? Wow...I really feel for those who work there and the pressures they have been putting on their hosts...to get plastic surgery. This may be why one of their hosts now no longer is recognizable and she was a stunning beauty...needing no surgery.

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On 6/23/2014 croemer said:

Have you been reading about the mess at ShopNBC gato? Wow...I really feel for those who work there and the pressures they have been putting on their hosts...to get plastic surgery. This may be why one of their hosts now no longer is recognizable and she was a stunning beauty...needing no surgery.

I didn't know that croemer. That's horrible

One VV/Shop host I really miss is Charla. She was a hoot. I hope the new team invites her back.

[croemer]

On 6/23/2014 ------ said:

On 6/23/2014 croemer said:

Have you been reading about the mess at ShopNBC gato? Wow...I really feel for those who work there and the pressures they have been putting on their hosts...to get plastic surgery. This may be why one of their hosts now no longer is recognizable and she was a stunning beauty...needing no surgery.

I didn't know that croemer. That's horrible

One VV/Shop host I really miss is Charla. She was a hoot. I hope the new team invites her back.

I miss her too. I was no fan at first and within a few months I would watch just because she was so entertaining. They have let go all the hosts who truly had a knowledge of their products and those with a little age on them it seems.

I found this out one day about the plastic surgery reading a home shopping blog. One of their prettiest hosts has (JMO) ruined her face because of the pressure they have put on their hosts. Very sad.

[Kachina624]

Where did you all hear this stuff about plastic surgery? All this is very interesting. There could use a little polish.

[croemer]

On 6/23/2014 kachina624 said: Where did you all hear this stuff about plastic surgery? All this is very interesting. There could use a little polish.

Here is one article kachina:

ARTICLE LINK to HOMESHOPPINGISTA. What Pamela McCoy has to say is disturbing to me. Pamela was a highly rated host at SNBC at one time.

[Kachina624]

Wow, that's rough. Makes you wonder how much is true. I wonder if Paul Kelly is still with the company? He was the host supervisor at one time. It sounds like the company is ripe for an EEOC suit by the female employees. I'm glad I don't work there. Thanks for the link croemer.

[croemer]

On 6/23/2014 kachina624 said: Wow, that's rough. Makes you wonder how much is true. I wonder if Paul Kelly is still with the company? He was the host supervisor at one time. It sounds like the company is ripe for an EEOC suit by the female employees. I'm glad I don't work there. Thanks for the link croemer.

I have no idea...but it sounds like most of the employees are on pins and needles and made to feel inferior. What an awful environment.

[ennui1]

Anyone who works in television is pressured to get plastic surgery. Look at how many topics get started here, suggesting that a host get some work done. Anyone aging naturally is denigrated.

[Judaline]

I'm very confused. I was an early VV customer. I still have the same customer number at shopQ, formerly shopnbc. Value Vision is sooooo long gone. Why are they talking about it? Did it start up again? I remember Carmela being part owner, wasn't she? Again, did VV start up again?