As you pointed out to me, the Term Sheet for this second investment by Tice has not been made public. Depending on what's in the Term Sheet, the deal could range anywhere from being catastrophic to a blessing ffor PNTV shareholders. I'd be interested to know your opinion if you disagree with this.
Also, it's not as if Tice has a reputation for building digital media companies. His publicized success has been exclusively in managing hedge funds that short stocks. In other words, he knows absolutely jack about building, directing, or managing companies like this. But, this deal suggests that Tice is going to be an active meddler in the board and management of PNTV (that's how I interpret several conditions on this deal), right down to the micro-level of having some say in who gets hired next. I could see how 'pre-Tice' large shareholders might view this as a huge negative (or at least, not a positive).
JMO.
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