Media Central Corp. FBOP

Bank is calling its loans to Media Central? Huh?

[PitchinPennies]

This morning's discussion on the German equivalent of Stockhouse appears to be devoted to the topic of Media Central having its credit line cancelled. The main cheerleader on that board calls himself Hagen2706, and he's been a tireless tout for FLYY, claiming he's got insider info. Thus spake Hagen2706:

Currently, a restructuring or financing slows down the whole process because existing shareholders in Toronto do not agree to the financing or they are currently working on it to accommodate you! News have been postponed several times but different forrists are in contact with the president! Best regards and happy Friday

Meanwhile, Mr. Manos and Dave Daniels (D2) continue to keep their lips clamped. Quarterly reports are now due, and the CSE monthly filing is seriously late. Boys, you do know that these submissions are obligatory, right?

[Tigers22]

Media Central hasn't paid employees in 6 weeks. There's nothing left. Employees are left holding the bag, told they have to keep working or they'll never see back pay. Kirk is on to new things.

[PitchinPennies]

@Tigers22, isn't NOW a union shop? Are you saying Media Central (Mr. Manos and David Daniels) aren't meeting payroll? Apart from the union aspect, both will be on the hook personally for any employee pay owed. Beyond that, what's the situation at Georgia Straight?

[Tigers22]

Staff were told Manos and Daniels aren't responsible for meeting payroll. No staff have received pay, whether union or not. Staff have been told that the Georgia Straight is receiving more wage subsidy because their financials are in worse shape — and so have been making payroll. Their payroll is seperate. Unless some form of payment is received by the end of today I don't expect there

[PitchinPennies]

I'm not at all surprised that the staff was intentionally misinformed, but in Ontario company directors will be held personally responsible for unpaid wages and benefits. The union will go after them with teeth bared. All employees need to contact Lior Samfiru, the employment lawyer, at 1-855-821-5900, asap. If the Straight is still making payroll, it's because Manos and DD are

[Reallitycheck]

Mental midgets on ceo.ca/flyy having buried their heads in the sand not wanting to hear the truth have yet again put me in the penalty box for a third time I might add, this time for 30 days. I wonder how violently they'd react if they read your latest posts. I bet you they'd still listen to/believe that ice cream man Hagen whatever Daz. Not too sure he's actually German. Maybe

[Tigers22]

Kirk lies to people. Constantly. About everything. Small and large. Hagen could be relaying information given to him by Kirk. It could also just be Kirk. NOW isn't worthless. It has talented staff and brand recognition. But with Kirk in the lead, only idiots would invest in it. 

[PitchinPennies]

I've never had the pleasure of meeting the fellow, but his notable lack of success at the Toronto Star is the stuff of legend. Story is that he was brought in to revitalize advertising sales, but saw his position as more of one where he got paid to offer ill-informed opinions about the future of the Internet. Somehow he got it in his mind that he was a guru on a par with McLuhan, and far too

[Tigers22]

He doesn't talk about his time at Toronto Star. But it sounds like he did the same thing at the Star as he is doing now; blowing a lot of hot air. He's in charge of advertising but he firmly believes there's no future in it — a recipe for failure.

[PitchinPennies]

Let's take a moment to consider what kind of person would leave someone such as Kirk in charge of anything? As I said earlier, I wouldn't trust him to order a grocery delivery from Voila if it cost more than $20. And yet there are imbecilic investors who believe he actually had a plan in mind. Now I wonder if Mr. Manos and his sidekick, aka George and Lenny, are going to get stuck with a

[Tigers22]

CreatorNews drives single-digit traffic back to nowtoronto.com (and, I would guess, its other linked sites). It's a non-entity. There is no staff, there is no CreatorNews, really. That's always been a potemkin village.

[PitchinPennies]

And in the very end, it will be CreatorNews that lands Mr. Manos and D2 in court, I firmly believe. Ironically, NOW Toronto has never had a reporter who understands financial or public-market matters, so the bait-and-switch maneuver Manos & D2 ran on investors was never examined and exposed. It was exceptionally harmful for them to pretend Kirk knew what he was doing, and there's a clear

[NOWemployee]

Kirk et al will take whatever money they can and be onto the next thing.  They won't pay anyone.  Kirk's right hand man is Marcus Vanmanson https://www.ripoffreport.com/reports/tami-capital/toronto-ontario/tami-captial-llp-investment-fraud-ask-for-upfront-payment-for-loans-then-disappear-or-1389285 Marcus's business partner https://www.cbc.ca/news/canada/unpaid-wage-claims

[NOWemployee]

He did the same thing at the Star.  His contract was cut short because he was inapproriate one evening with a female sales rep at a company event.  

[PitchinPennies]

Let me just toss out the idea that something very powerful -- or several things -- might be created from the hypothetical implosion of Media Central. I'm not thinking of Michael Howlett's new monthly, which seems entirely last-century in spite of its sad determination to be "with it." I believe there will be a few money guys around town who could be intrigued with the idea of a

[Reallitycheck]

Comparing BlogTO to FLYY is like day and night. But given that FLYY has significant legitimate business tax losses in the millions and Zoomer is active in the same line of business and hence may be able to use/apply tax losses to reduce its tax bill, then hypothetically speaking it they acquired FLYY at these prices, they may actually be getting for free net net. Stranger things have happened

[PitchinPennies]

Well, that's a viewpoint, but according to the data-gathering site Similarweb.com, there's a 79% affinity calculation between Nowtoronto.com and BlogTO.com, so that ain't day and night. Granted, the other metrics show that BlogTO is kicking Nowtoronto's butt on every measure, and that Nowtoronto.com is losing its audience at the pace of 16.17% month over month. You will also

[Reallitycheck]

Since I've no idea about BlogTO revenue and/or profitability and/or so called synergies I can't really comment on the purchase price paid. Suffice it to say though that the majority of Zoomer customer base is/was a rapidly aging demographic and they definitely needed to refresh (younger) base and so I'm sure that was a big if not the main consideration in acquiring BlogTO for the price

[PitchinPennies]

I can't account for those CEO.ca yokels. They run the gamut from absolute drooling retards to one or two cultists who might be expected to know better, but don't. But they're all plucked pigeons now, just as was destined. I join you, RC, in one more sad head-shake.