New York-based producer/distributor Unapix Entertainment has been delisted from the American Stock Exchange after review by the ASE’s board. The company filed for Chapter 11 bankruptcy protection last month, but treasurer Daniel Murphy had said at the time that they still hoped to receive permission to float the stock publicly. Trading was halted on November 21, with Unapix shares closing at 16 cents.
As a result of this downward financial spiral, seven members of the company’s board of directors have resigned. Some have already moved on.
Former Unapix managing director of international sales and marketing Scott Hanock, recently formed a new distribution company, called TVFilmBiz International. The focus, he says, is reality programming, documentaries and entertainment, with an initial split of 80% TV product and 20% film.
Hanock, who was with Unapix for 14 years, says he has learned the lessons of his old company. ‘I’m not going to grow it the same way,’ he says. ‘I want to work selectively with independent producers, matching them with broadcasters to reach the widest possible audience.’ Though he refused to specify, Hanock says he has deals in the works with top network producers in the U.S.
TVFilmBiz will have a presence at NATPE, but will launch officially in Monte Carlo.