they made good content but now the time of small, devouted players has come

Master,did you know about it ?

Form 8-K for PRIVATE MEDIA GROUP INC

20-Dec-2011

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 15, 2011, Eric Johnson, the Court appointed receiver for Private Media Group, Inc. (the "Company"), indefinitely suspended Berth Milton from all duties and powers commensurate with the office of President and CEO of the Company. Mr. Johnson, in his role as receiver for the Company, will carry out the responsibilities of the Company's principal executive officer during the suspension.

Also on December 15, 2011, Johan Gillborg was terminated as the Company's Chief Financial Officer and Corporate Secretary. Mr. Johnson will carry out the responsibilities of the Company's principal financial officer and Corporate Secretary during the Company's search for a new Chief Financial Officer and Corporate Secretary.

I didn't know, so thank you ! Probabily my phone will ring today about it ...
It's the end of the Milton short dynasty during 46 years !!! It's sad even if he did all to make it happens with his special mind ! Now they need to find someone full of money to paid the debt + employees and take the control of the company. One Greek guy was supposed to do it few months ago but today i don't now. I know they lost a lot on the money income between 2010 and 2011 like most of the adult industries actually !!!
I will be a big turn if such a big name as Private will disapeared in 2012 !!!

PW

What did Private do wrong to go bankrupcy ?
Or is it just piracy ?

It's a mixte of everything !!! But the massive reason has a name : Berth Milton himself !

PW

Ces grosses companies sont bien plus dures a gerer que les petites affaires il faut se tuer a la tache avec souvent des resultats rouges plusieures annees de suite

A la belle époque ça faisait 60 Millions par an et ce fût coté pour 785 Millions en 2000.
Donc si aujourd'hui ils sont autant dans la merde, il ne faut pas chercher bien loin ...

PW

ahhh il aurait du vendre en l'an 2000!!! vraiment c'est très dommage!!

Bon sur wikipedia, c'est écrit que BM junior a d'autres business.... je ne penses pas qu'il est trop a plaindre!! tant qu'il ne gère pas ses bizness comme private!!! Mais si il avait vendu en 2000 il aurait fait un sacré hold-up!!!

Il est pourtant bien dans la merde, il doit plus de 100 Millions d'Euros au fisc Suédois, un petit billet de 25 millions à une grosse boite Allemande et la fraude au Nasdaq si elle est démontrée devrait aller chercher des montants qui donnent le vertige avec quelques jolies petites années à l'ombre en prime, donc je ne voudrais pas être Mr BM en ce moment ... même si sa capacité à retomber sur ces pattes m'a toujours fasciné et que peut-être il trouvera une solution à tous ses problèmes personnels !!!

PW

Latest news about Private
Two of the ex CEO take now the direction of the company ...

Jan 13th, 2012 01:00 PM
Private Shareholders Elect New Board of Directors
Recently suspended President and CEO Berth Milton has been voted off the board; former Private CEOs Ilan Bunimovitz and Charles Prast are members of the new board

LAS VEGAS—The law firm representing Eric Johnson, the court-appointed receiver currently overseeing Private Media Group, filed a notice with the Clark County District Court today in the Consipio v Private lawsuit announcing the results of the Private Media Group shareholders meeting held Jan. 11 in Las Vegas, at which time a vote was taken to determine a new Board of Directors that will serve for one year.

“At that meeting,” the notice states, “the Stockholders elected Directors from the two slates of Nominee Directors that had been proposed, both by management and Stockholders. Joseph J. Mugan, Esq., of the firm of Kolesar & Leatham, Chtd., was the Inspector of Elections and submitted a Certificate and Report of Inspector of Elections, a copy of which is attached hereto as Exhibit ‘1’.

“The report sets forth the names of those persons elected as Directors of [Private] for the coming year, whose terms expire at the next Annual Meeting of Stockholders or until his or her successor is elected and qualified. Those persons elected to the Board of Directors of [Private] are Eric Johnson, Ilan Bunimovitz, Anna Maksimova, Michael Martinez, James McCormick and Charles William Prast.”

The results indicate that the entire slate of directors nominated by Consipio Holding BV was elected, and that the slate recommended by the current board—Stefan Gunnarsson, Jan Jensen, Eric Johnson, Berth H Milton, Bo Rodebrant, Lars Ryd—was rejected by the shareholders. The sole name common to both slates is receiver Johnson.


PW