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Will Oliver Mcintosh’s Verticast Media Group Acquire CVM TV From Michael Lee Chin? Part 1



There is an interesting line in a number of privately circulated private placement documents from the Oliver Mcintosh-led Verticast Media Group Limited.

The line reads, “To assist with the Acquisition of traditional media company and the Broadcast Rights of the English Premier League for 2023 – 2026 and the FIFA World Cup 2022.”

The “To assist with the Acquisition of traditional media company” is what got our attention. So, we started to ask around, tapping into people we knew would have some insights into this potential deal. We asked them which traditional media company this could be, and the name that kept coming up was CVM TV.

So, we probed further, why the Michael Lee Chin majority owned and controlled CVM TV?

Several people said to be somewhat close to Oliver Mcintosh claimed that he has always held the desire to acquire and operate a free-to-air media outfit and CVM TV would be a perfect fit for what he is embarking on with Verticast Media Group.

Based on comments placed by Mcintosh already in the public media we know that he has already acquired the Broadcast Rights of the English Premier League for 2023 – 2026 and the FIFA World Cup 2022. So, the insertion of this line may be an attempt to deficit attention or he has not paid for the rights yet and now seeking the funding. Given the highly competitive nature for the rights acquisition we suspect that he has already secured these rights by way of loans or debt financing and now looking for the funds to pay them off.

Given this context, the question now is which traditional media company is Oliver Mcintosh seeking to raise at least US$49M for, with the option to upsize if the market responds favourably. He is doing this by way of several instruments, including.

  • US$26M Secured US$ Fixed Rate Bond
  • Private Issue Of Ordinary Shares Up To US$13.2M
  • USs$9M Convertible Preferred Shares

He also intends to execute, as a possible exit for early investors, an IPO within 36 months after the Issue Date and apply to list its shares on the Jamaica Stock Exchange.

So how does CVM TV fit into Oliver Mcintosh’s grand plan? Let’s look at what CVM TV has to offer….Part 2

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1 year ago

[…] Will Oliver Mcintosh’s Verticast Media Group Acquire CVM TV From Michael Lee Chin? Part 1 […]

Businessuite News24 International

The “Endless Shrimp” Promotion By Red Lobster Offers Five (5) Key Marketing Lessons



Red Lobster, the iconic seafood restaurant chain, has filed for Chapter 11 bankruptcy as it grapples with significant financial challenges. The company cited escalating lease and labour costs, heightened competition, and evolving consumer preferences as key factors leading to its current predicament.

This decision comes despite efforts to revitalize the brand, which included promotions like the “Endless Shrimp” deal. However, this particular marketing strategy backfired, resulting in an US$11 million loss in the third quarter of 2023, exacerbating their financial woes.

The “Endless Shrimp” promotion, intended to attract more customers, turned into a costly blunder. It failed to generate the expected revenue and instead led to excessive operational costs.

Customers took full advantage of the unlimited shrimp offer, causing a spike in expenses without a corresponding increase in sales. This miscalculation, combined with existing financial pressures, pushed Red Lobster towards bankruptcy as a necessary step to restructure its debts and seek a more sustainable business model.

Five (5) Key Marketing Lessons:

1. Understand Cost Implications: Promotions must be carefully analyzed to ensure they don’t lead to unsustainable costs. Red Lobster underestimated the operational expenses and customer response, resulting in significant financial losses.

2. Customer Behavior Analysis: Predicting customer behavior is crucial. The promotion attracted heavy users who maximized their consumption, leading to higher costs without proportional revenue gains.

3. Align Promotions with Brand Strengths: Promotions should reinforce a brand’s strengths rather than just attract volume. Red Lobster’s focus on endless deals diluted its brand value and strained resources.

4. Flexibility in Promotions: Being able to adjust or terminate a promotion quickly in response to unforeseen consequences is essential. Red Lobster’s prolonged offer exacerbated their financial situation.

5. Balanced Value Proposition: Ensure that promotions offer value to both customers and the company. The “Endless Shrimp” deal provided disproportionate value to customers at the company’s expense.

These lessons highlight the importance of strategic planning, financial forecasting, and flexibility in promotional campaigns.

During the restructuring process, Red Lobster plans to keep its restaurants open and continue serving customers. The company aims to renegotiate leases, reduce debt, and streamline operations to regain financial stability. This move is crucial for Red Lobster to adapt to the changing dining landscape and remain competitive in the market.

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Businessuite Markets

The LAB Reporting Higher Net Profits Based On Strong Focus On Agency Segment



Kimala Bennett Chief Executive Officer for Limners and Bards Limited (The LAB) has released the following unaudited financial statements for the three months ended January 31, 2024, which have been prepared in accordance with International Financial Reporting Standards (IFRS). The consolidated results include the subsidiary Scope Caribbean Limited (Scope) whose principal business is the scouting, placement and management of talent while expanding and maintaining a database of quality talent.

The LAB achieved higher net profits when compared to the corresponding period last year. This was based on the strong focus on the Agency Segment of the business for this quarter, as the company continued to build brands. The Agency Segment provides the highest profit margin and as such bolstered the results for the period. The company also implemented cost containment measures, which resulted in a 19.2% reduction in administrative expenses when compared to prior period. We continue to maintain a strong balance sheet and our cash position grew stronger over the period. Our asset base increased, as we reinvested in the business through further upgrading film studio facilities.

Revenue for the three months ended January 31, 2023, was $219.4 million, down 11.4% relative to the prior period. This decline was primarily attributable to a reduction in production during the period due to its cyclical nature. Notwithstanding this, the Agency segment outperformed the comparable period. The revenue achieved was derived from the company’s core business lines: Media totalling $118.3 million, followed by Production with $29.3 million and Agency with $71.6 million.

The company remains fully focused on executing its strategy of diversifying its income, through engaging new clients and the introduction of new service lines. These strategic endeavours are aligned with our company’s expansion strategy into emerging markets, all aimed at fostering sustainable growth, increased revenues, enhanced profitability; while proactively anticipating the evolving needs of our valued clients and enhancing shareholders’ value.

Gross Profit for the three months was $88.9 million, down 3.3% when compared to the corresponding period. Net Profit achieved was $26.2 million, up 295.7% relative to the comparable period. due to higher gross profits from the agency segment and lower administrative expenses. Administrative expenses decreased by $16.3 million or 19.2% in comparison to the corresponding period last year. These decreases are primarily due to reduction in contractor and staff cost.

The consolidated Balance Sheet saw total assets increasing by $119 million or 15.1% to $909.3 million compared to $790.2 million in the corresponding period. This increase in assets is driven by building and film studio facilities improvement and purchases of new production equipment to facilitate future growth.

Current Assets amounted to $731.7 million, increasing by $107.6 million over the prior year, primarily due to a 43.6% increase in cash and cash equivalent. Management continues to maintain tight monitoring and control over receivables. Cash and cash equivalent increased by $142.4 million over the corresponding period last year. Shareholders’ equity grew to $624 million, up from $548.1 million or 13.9% over the corresponding period last year.

The LAB is pleased to report significant progress in our strategic initiatives. We have successfully completed the pilots for two TV/web series, “SEEN” and “Jenna In Law,” as outlined at our last Annual General Meeting (AGM). Additionally, Pre-production for our first feature film, “Love Offside,” is currently underway, with production scheduled to commence in June 2024.

In line with our strategic objectives, we are actively engaging with international networks and digital streaming platforms to secure distribution opportunities for our content upon production completion. This proactive approach ensures that our creative endeavours have a suitable platform to reach global audiences.

For More Information CLICK HERE

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Businessuite News24

Brand Jamaica Must Be Protected – Senator Hill



The Government continues to enhance the development and protection of the intellectual property (IP) rights of Jamaicans as a key contributor to national development, says Industry, Investment and Commerce Minister, Senator the Hon. Aubyn Hill.

“Brand Jamaica and the excellence of our products and services must be protected and not infringed if they are to contribute meaningfully to Jamaica’s growth and development,” he noted.

The Minister, who was addressing the recent CARIFORUM Intellectual Property Rights and Innovation Case law Conference at the Spanish Court Hotel in Kingston, said that through the Jamaica Intellectual Property Office (JIPO), works as diverse as music and computer programmes are protected by copyright; pharmaceuticals, by patents; and clothing and jewellery are protected as designs.

He informed that Jamaica jerk and rum have Geographical Indications protection, which provides safeguards against misuse or imitation of the registered names and guarantees the true origin of the products to customers.

The Minister noted, further, that Jamaica is a signatory to international treaties that have enabled businesspersons to more easily access the global IP system for the registration of their intellectual property.

“Examples are design rights through the Hague Agreement concerning the international registration of industrial designs, inventions and innovations through the Patent Corporation Treaty and, of course, the protection of business owners’ trademarks through the Madrid Protocol, which we most recently signed. We have ensured that this is a local provision through JIPO and have facilitated the international provisions through these international treaties,” he informed.

Senator Hill, in welcoming the staging of the Case Law Conference said the work of the judiciary in interpreting and giving effect to clarifying issues that arise in IP legislation is one of the key pillars of governance.

The hybrid conference was attended by members of the judiciary and academia from Caribbean and Latin American countries.

It aimed to increase capacity and knowledge among the judiciary, the legal profession and relevant educational institutions about intellectual property issues.

By: ROCHELLE WILLIAMS, March 18, 2024

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Businessuite News24

Betting, Gaming And Lotteries Commission Seeking Input Of Citizens On Advertising And Marketing Guidelines



The Betting, Gaming and Lotteries Commission (BGLC) is seeking the input of citizens on the advertising and marketing guidelines being proposed for gambling and gambling related products in Jamaica.

A public consultation is being undertaken via electronic survey and an in-person session is scheduled for Monday (Nov. 20) at the Terra Nova All Suite Hotel in Kingston, where various stakeholder groups have been invited to participate and share their views on the proposals.

Persons have until December 1, 2023, to access the survey online at

“I would advise persons to go to the consultation summary and then click the form that takes them directly to the e-survey,” Manager, Corporate Affairs and Communication, BGLC, Wendy Robertson, told JIS News.

She noted that the entire public consultation document is available on the website and provides a lot of information, however, “the summary gives a good synopsis of what the consultation is about”.

Persons may choose to respond to any or all the questions in the survey.

All responses will be considered. Names of individuals or the organisations they are responding on behalf of will be published on the BGLC’s website, as part of the published responses to the consultation.

Ms. Robertson told JIS News that there has been a noticeable increase in gambling advertising, especially since the onset of the COVID-19 pandemic and as such, the Commission has to put the necessary safeguards in place.

“Part of the BGLC’s mandate is to protect consumers from gambling harm and financial exploitation, particularly among the vulnerable population, and we have to ensure that guidelines are put in place or stipulated to help prevent the forms of communication that may drive gambling harm,” she said.

The Corporate Affairs and Communication Manager said the BGLC is aware that research conducted by gambling regulators in other parts of the world has shown a clear link between marketing and advertising and the risk to customers.

“The Commission also recognises that the type and level of risk will vary from jurisdiction to jurisdiction so rules and controls applied need to be proportionate and relevant to the gambling market in Jamaica,” she noted.

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Marketing & Advertising

The List – Businessuite’s Top 50 Caribbean Marketers to watch for 2024



Djuvane Browne, Co-founder and CEO One Great Studio

Businessuite’s Top 50 Caribbean Marketers to watch

Djuvane Browne Chief Executive Officer is a man of many talents – Djuvane is an ultimate frisbee player, father of four, honorary husband of the year, and of course, our Team Leader. With over 20 years of experience, his passion for innovation and creation is only rivaled by his love for family and fresh prestige jelly donuts. Djuvane combines a wealth of experience with his established educational background in Psychology, Computer Science and Business Management, to match people-focused technology solutions to business objectives.

At One Great Studio, our digital agency is fully staffed by some of Jamaica’s most talented designers, developers & digital marketers who take pride in consistently delivering GREAT results for our clients.

We’re digital natives with deep knowledge of design, technology & business. We help you generate more leads & make more sales with digital marketing, websites, web applications & mobile applications.

Nominate Businessuite’s Top 50 Caribbean Marketers to watch for 2024

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