Deeper dive on the lawsuit TrillerTV/Flipps filed against Triller Group Inc.
Among the highlights:
- Multiple emails from TrillerTV’s CEO to Triller’s CEO went completely unanswered, except in one instance where Triller’s CEO replied only to be angry at the inclusion of a member of Triller’s board in the email chain and not to address any of the issues.
- Triller redirected most of the revenue from TrillerTV to the parent company, which led to them being unable to pay content providers money owed.
- Triller refused to sign off on or even acknowledge attempts to secure loans to pay AEW, which led to the dissolution of the relationship between TrillerTV and AEW and the lawsuit AEW filed against both companies. AEW alone represented over 60% of TrillerTV’s revenue and 24% of Triller’s as a whole.
- Multiple buyout offers for TrillerTV, including from FuboTV and Anthem (TNA’s parent company), were refused out of hand without any due diligence.
- Even now, Triller refuses to tell TrillerTV execs whether they plan to continue operating the service or to wind down, which is why they’re suing to separate from the company and explore sale or bankruptcy options.
AEW alone represented over 60% of TrillerTV’s revenue and 24% of Triller’s as a whole.
Didn’t expect that large of a percentage! How do you not even try to work with a customer that is that much of your revenue? What a shit show.
Based on the bullet points I speculate, they, or the owner personally, owed money to somebody that could take the company, and that somebody is likely on the board or knows someone on the board based on the CEO getting pissed about a board member being cc’d on an email.
Taking the TV money to use on other stuff screams of when AOL Time Warner used to do this to WCW, take parts of the big revenue and put them on the Warner books and claim WCW lost money, and while WCW lost money either way, on paper it was more the way Warner was cooking things.
Refusing to do loans is another red flag about the board, they didn’t want to take out loans likely because the board would need to be notified. I can see why AEW was their golden goose, it was the only real “brand name” they carried and it was far cheaper than a cable plan.
Those final two bullet points… y’all remember when Dixie was playing the investor shell game, which ultimately led to TNA going to Anthem… yeah, this sounds eerily close to that, to me.
