So the network was the idea of congressman JC Watts and some other investors. And he was a republican but the aim wasn't to be pro publican it was sposed to be news for black folk by black folk. He was pretty much hands off for the most part. So in order to get funding they had to get some grants and stuff and one of the stipulations was that it had to be tied to a hbcu and FAMU was the choice. So for the first 6-8 months it was a bunch of young inexperienced people and some experienced people sprinkled in. So the product was bad, and the network wasn't on cable so the visibility was low.
Then Khan buys in like June or something in 2019 after it had been up a few months. So he's the big money man and he hires a new CEO.
So now its a flush of money coming through but it's majority Khan dough. And he's hands off other than the money part. Dude only been to the network once (ill say more on that later).
So the CEO does a rebranding, and makes a buncha huge name oncamera hires that cost a lot of money (nothing against them getting paid) and executives who happened to be his friends to a lot of big contracts. Lot of them aint do shyt. So round Feb 2021 the relaunch happens. Got rid of old tired graphics. New anchors new shows being rolled out. But they Hired a ton of staff, way too many people for the amount of work there was. And also hired a lot of people at a high clip cause it take a lot of money to get a nikka yo move to Tally (
) but also Khan has a bigger vision. He wants to move the HQ to Atlanta which makes perfect sense and since he's the money they tie to FAMU wasn't needed but they still had to keep a studio there for tax purposes. So a lot of people upped and moved here cause it was like do a year or 2 in Tally then bounce to atl.
So the relaunch is rocky and there was 0 outside marketing so most black folk didn't know we existed. So they dropped the ball on that. And marketing is everything. During the summer of 2021 CEO comes and is like we doing great we're going to start a digital only platform so thats 3 more shows, 3 more teams of producers,3 more teams of production assistants etc so network growing fast very fast. Still don't know the numbers or if we making money or not but everybody figure we gotta be alright cause all this expansion happening but at the same when you'd talk to somebody they wouldn't know we exist.
So we going along bloated staff, bloated production cost because you gave majority of the anchors in home studios due to the pandemic and none wanting to move to fukkin tallahassee (dont blame em) mind you they supposedly building a studio in atl and thinking we actually making growth cause CEO got us on cable and a buncha streaming platforms. But thats a lot of money being burned through.
So December rolls around. Urban Meyer get caught rim running a white girl bootyhole and get clipped. Next day Khan comes to town for like the 1st time that i know of. He came through and said let me see the books. Books looking sadder than than a clown with no jokes.. then bam next day get hit with layoffs where they cut a ton of staff some folks had to take payouts or leave and cut shows.
Also there are lawsuits that are hanging over their heads. Discrimination shyt, folks getting yelled on, women making less (even though that shyt aint gon happen) and so thats payouts.
And you can't sell cause who gon buy a business and take on their lawsuits when the place is barely above water?
So right then a lot of folks said dueces and started getting new jobs.
Yesterday they were like its gon be a delay on yall direct deposit i was like yep we got bout 3 days left at that.
So its basically due to a lot of overspending and lack of knowing what the fukk to do by the CEO. Burned through millions on bullshyt cause he aint have a good plan or timeline.
But one thing for sure Shad Khan aint to blame cause he pumped a ton of money into this place and stayed hands-off for the most part. The CEO fukked everything and Khan wasn't seeing a ROI so you can't blame him. But BNC shutting doors is because he hasn't seen a profit in a year and a half he's a businessman and made a smart business move.
Oh....OK. After watching Professor BlackTruth's video, a couple days ago, on Roland Martin begging the federal govt for a check & that the dude behind BNC is a Republican. I gotta assume BNC was grift for the pakastani dude.
