I just spoke with Jonathan Friedman, Chief Counsel for Atrinsic. I had called Mr. Chazen, Chairman of the Board, late last week and left a message. Mr. Friedman called me on behalf of Mr. Chazen.
While Mr. Friedman was obviously very careful about what he said and what he would/would not confirm, he did make one thing very clear to me - which I repeated back and he confirmed just to make sure I was understanding correctly:
Atrinsic was really configured as 2 businesses, Kazaa (which we know is now gone as ATRN announced previously and "Agency". EVERYTHING else that we all know ATRN to be, INCLUDING the Affiliate Network, falls under the "Agency Umbrella" as Mr. Friedman put it. Therefore, when the PR stated that they were "winding down support for the AGENCY business....", that means EVERYTHING. I specifically asked, so that means the Affiliate Network as well, and he said yes, EVERYTHING.
I asked many more specific questions about individuals, remaining assets, intellectual property, patents, etc. and as I expected he would not discuss or confirm/deny anything else.
He stated that we should be hearing something from the BOD in the "short term", but did quantify that and/or put a target date on it. He told me the BOD is fully aware of shareholder frustration, but they do not want to get ahead of themselves and announce anything prematurely. Last question I asked was "If you're saying its everything, every business line, I assume that means at some point tomorrow, next week, next month, someone will literally be turning off the lights and the entity will be closed down, he said I CAN NOT COMMENT ON THAT AND I DON'T KNOW IF THAT IS TRUE OR NOT.
I have to be offline now for next few hours, I know many will have questions, but I will be on tonight to answer them.
