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The HorseTV Channel, which launched on cable TV in October 2005 and subsequently went off-air in 2007 as a result of being unable to close on its second round of funding, has been saved by a new investment group led by Texas-based Australian businessman, Bernie Uechtritz.
Under a special agreement, the new group had acquired the assets of HorseTV Media Group, and, in the process, had taken over the interim administration of HTVMG, moving the corporate headquarters to a new location in Dallas, Texas. The management and operation of the new HorseTV Channel is now in the first stages of turnaround, with new ownership, shareholder group structure, board, and senior management; the formation of which is currently in process. "Previous struggles by the HorseTV Media Group, Inc. had nothing to do with the concept or the subject matter," said Uechtritz. "It was an untimely combination of second round financing conditions, complicated and frustrated by some complex shareholding and executive management issues. In fact, prior to the takeover, Horse TV had executed a memorandum of understanding on a distribution deal with Direct TV, and had other carriage agreements in place and pending. There exist a number of industry, MSO's, and institutional investors from across the US, Australia, Middle East and Europe who also recognize the need and opportunity. I am currently engaged in discussions with principles that I think would be the right fit and who share my vision of the necessary balance between the horse industry, its lifestyles and its commercial appeal on a global platform," he said. "The world equestrian industry offers significant opportunity for aggregation; accordingly there are some mergers and acquisitions in process and on the radar. While the company is in a temporary off-air hiatus, we are crafting the new structure and strategy, and are completing the processes in motion, moving forward rapidly, and adding some additional components and properties." Uechtritz, whose family originates from Papua New Guinea, is a renowned international polocrosse and polo player. In 2007, Uechtritz came to the aid of RFDTV, (which also carries horse programming) at a critical moment prior to its signing of Imus, when Uechtritz successfully sourced bridge funding for that company's operations. He is also the lead investor in several other synergistic multimedia and lifestyle properties. Check out the latest Sport and Breeding articles from SporthorseBreeder |