Sibbett commented that recent events; a death in his immediate family, management negotiations, and a tender offer to buy Nashville Records, had delayed a scheduled public announcement concerning the planned dividends to be given to shareholders. Formal arrangements between Nashville Records and the firm interested in buying the company required that no press statements on Nashville Records activities be issued during the negotiations period. Even though the Company making the offer is a multi-million dollar firm, NRI ultimately declined the offer. Dr. Winders commented, "While the offer would have provided a cash settlement that financially benefited Mr. Sibbett and the founders, Nashville Records principals felt it would have had a negative impact on the investor base in the longer view. This became the sole deciding factor. Clearly, the company leaders, in making this decision, were more concerned with seeing investors profit from the Company's future plans than with their own short-term profitability."
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