Q Talk

[Still Raining]

It will be fascinating to see the financials for inventory next month.  Sales prices r us all this month.  Wonder if vendors are holding out?

[santorini]

Unrelated to this but has anyone heard if the host union was able to get formed?

[They CallMe MRWILKES]

Hosts will vote July 23rd about SAG-AFTRA representation. 

[Mz iMac]

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@They CallMe MRWILKES wrote:

all vendors will have their claims paid in full or reinstated."

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@They CallMe MRWILKES  Do you know what "claims" have been made by the vendors?  Have they not been paid?

as always for your info on this bankruptcy stuff.

[They CallMe MRWILKES]

I believe that all outstanding pre-petition unsecured claims have been paid in full as CONTRACTUALLY DUE.   Keep in mind that some payments are made quarterly,  not as incurred, so may still be outstanding, but will be made on the contract date as approved by the Court.

That is my understanding, unless a vendor reading this wants to inform otherwise!

[Puppy Lips]

Well that is good news, for everyone except those that held stock, as any value was wiped away.

I am glad QVC will stick around, BUT, I do hope they make changes for the better, and not for the ridiculous.  Getting rid of the more disliked hosts would be good too, but somehow I don't see that happening, especially if they join a union  --  then it will be impossible to fire any of them.

[They CallMe MRWILKES]

I've never seen a Chapter 11 where shareholders recovered any value;  I think it's pretty standard 99.9% of cases and a risk one takes as an equity owner, rather than being a lender.

As for changes, let's speculate!  Why not?  There's no rule or regulation forbidding it.

[santorini]

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@They CallMe MRWILKES wrote:

I've never seen a Chapter 11 where shareholders recovered any value;  I think it's pretty standard 99.9% of cases and a risk one takes as an equity owner, rather than being a lender.

As for changes, let's speculate!  Why not?  There's no rule or regulation forbidding it.

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Well, as long as you asked ...

I predict that there will be better management, that some hosts will be given pink slips, and that the new management will put a stop to some of the silly things that have been happening lately.

[They CallMe MRWILKES]

My thoughts:

First, keep in mind what new ownership is:  a small group of commercial banks, investment banks and hedge funds.

The hedge funds in particular invested a lot in acquiring debt in the secondary market.   If you know anything about them, they are aggressive,  want their investment back, want a return on it and want it fast!

How to do that?

Investment of resources in the QVC+/HSN+ streaming outlet, TikTok Shop and other social media and reduce and eventually eliminate traditional broadcasting.  Reduce broadcast hours again, maybe eliminate broadcasting days........I think that many current hosting positions will soon become obsolete.

Just my own thoughts!

[nambee]

There will be more changes than anyone can imagine. As they say, a new broom brushes clean.

The emphasis on sales numbers and profit margins will increase sharply and quickly. Will not matter how entertaining viewers find any particular host or show, it will be sales that determine their future.  It will be surprising which hosts go and who stays.

I think QVC and HSN will eventually merge with cost-saving layoffs.

Obviously there will be more selling on social media platforms and a pullback of on air TV sales - fewer channels but remaining on air for the short term.

Hopefully, they will source a better selection of products. The variety of merchandise has been so boring and stale for a long time.

Life at the Q will never be the same. Wish them all luck!