The saga involving Synacor and two dissident shareholders continued Wednesday, with Synacor holding that the demands of JEC Capital Partners and Ratio Capital were deemed “inappropriate” and lacked the best interest of all Synacor stockholders.
Synacor’s response comes after JEC Capital and Ratio Capital, which together hold about a 10% stake in the Buffalo, N.Y.-based maker of TV Everywhere technologies and customized Web portals, have been calling for the resignation of Synacor chairman Jordon Levy while also urging the Synacor board to seek a sale of the company.
In Synacor’s response issued on Wednesday (October 1), the company said its board of directors “attempted to engage in cooperative dialogue” with JEC Capital and Ratio Capital and ultimately offered them board representation.
Broadcasting & Cable Newsletter
The smarter way to stay on top of broadcasting and cable industry. Sign up below