New Frontier Media Board Retained by Shareholders

BOULDER, Colo. — New Frontier Media Inc., which signed a definitive agreement to be acquired by LFP Broadcasting last week, said today that shareholders reelected its board of directors — an election that likely will be the last time for the adult transactional TV service.

The public company, which trades on the Nasdaq, will go private when LFP Broadcasting closes on the proposed $33 million deal. The company, when the deal closes, is slated to be a division of LFP.

Reelected directors on the board include Walter Timoshenko, Hiram Woo and Melissa Hubbard, as well as Alan Isaacman, who is chairman of New Frontier Media's board.

The shareholder vote last week also ratified the appointment of Grant Thornton LLP as the company’s public accounting firm for the fiscal year ending March 31.

The re-elected board of directors issued the following statement: "Over the last eight months, we have worked diligently to maintain a fair and level playing field for all parties who participated in our review process, and we are pleased that our efforts resulted in a very positive outcome for all our shareholders. 

"The [LFP Broadcasting] all-cash transaction provides shareholders immediate and certain liquidity at a substantial premium," the board said. "We also believe that this transaction with LFP Broadcasting creates a great opportunity for our organization, cable television partners and customers as two of the premier adult media broadcasting companies join forces.  We look forward to completing the transaction as expeditiously as possible.”

Last week, New Frontier Media announced that the company had signed a definitive agreement to be acquired by LFP Broadcasting for $2.02 per common share in cash up front, or approximately $33 million, plus a contingent cash payment right for each common share.

The acquisition is expected to close during the fourth quarter of 2012.

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Jane Wilde, Lily LaBeau Star in Latest From New Sensations

Jane Wilde and Lily LaBeau star in the latest release from New Sensations.

Hailey Rose Toplines Latest 'Stacked' From Hard X

Hailey Rose headlines the 14th volume of "Stacked," from XEmpire studio brand Hard X.

Hentaied Debuts Final Rae Lil Black Scene

Hentaied has released recently retired performer Rae Lil Black's final scene, titled "The Monster Slayer."

Arcom Reports Age Verification Enforcement Actions Against 5 Adult Sites

French media regulator Arcom released a statement Tuesday detailing recent actions to enforce age verification rules as set forth under France’s Security and Regulation of the Digital Space (SREN) law.

Ryan Keely Fronts Latest From New Sensations

Ryan Keely stars with Victor Cruz in the latest release from New Sensations.

Zariah Aura Stars in Latest From Transfixed

Zariah Aura stars with Kenna James in the latest release from Transfixed, titled "Feeling Her Way."

Brittney Kade Fronts 'Couples Loving Trans 2' From GenderX

Brittney Kade stars with Adira Allure and Sage Roux in the second volume of GenderX Films' "Couples Loving Trans," directed by Jim Powers.

Eve Sweet Makes Her Brazzers Debut

Eve Sweet has made her Brazzers debut alongside Xander Corvus in “Horny Gymnast.”

Penny Barber: The Fit Mommy Domme Reveals Her Auteur Side

When Penny Barber took home the 2025 XMAs trophy for MILF Performer of the Year, she was 39 — but she’d already been telling people she was a MILF for almost 20 years.

Summer Starz Makes Her WIFEY Debut

Creator Summer Starz has made her debut for Vixen Media Group (VMG) studio imprint WIFEY alongside her husband Dean Darkhole and Sheem.

Show More