More from Tanya More lies from the Regime and Nouzab Fareed... DID YOU KNOW : when a TV broadcaster buys the IRB 7s series, they pay 2 components : a) Rights Fees b) Technical Fees. What is the Rights Fees? it is the IRB 7s series (eg: any broadcaster would pay a premium price moreso when the product is exclusive). EG: For layman purposes, you would be paying Lamborgini vehicle as compared to paying at a Scooter price. So now we have purchased this vehicle (eg : Dubai 7s) - we now need to get this vehicle to Fiji. The vehicle travels via satellite highway from Dubai - London - Syd - Fiji TV HQ. Fiji TV pays also for all those satellite roads that brings this expensive & premium vehicle to Fiji. So when you are paying for the IRB 7s rights, you are basically paying for the vehicle. Now, this vehicle has to come to Fiji - this is where the Tech costs comes in : What is Technical Fees ( 2 tech costs) - i) satellite costs - the cost of driving the Dubai 7s vehicle from Dubai - Fiji. ii) TV production costs - only 1 TV feed comes out of the venue which is produced by the TV company who is shooting the Dubai 7s. All broadcasters who have the rights to the series pay for the production feed. What currency is used for this payment? all in USD currency. Fiji TV has made all payments upfront before the tournament. Last night, a friend emailed to me the FBC TV news interview made by Group Chief Executive Officer, Fijian Holdings - Nouzab Fareed. FHL is the majority shareholder of Fiji TV - I stand corrected but I did not see same interview on Fiji TV (moreso when FHL is the majority shareholder & therefore preference of any interview from FHL MUST always be with Fiji TV). I have always forewarned NF to work righteously, apparently my free legal & moral advise fell on deaf ears & I am deeply disappointed. The interview was conducted by FBC reporter : Maggie Boyle & she interview Fareed and he says The sub - licensing agreement is nothing to do with the decree, it is a commercial agreement between two legal entities, sensitive to both parties, so its not 90/10 and its not 50/50, I dont want to make a comment on that, but FBC is paying more, YES. When I read this last night, I was disappointed with the inaccurate statement made by Fareed where he says that FBC is paying more. FIJI TV is paying more & he knows it - I had sent him an email last night expressing my disappointment on the LIES that he continues to spurn in public. In fact, Fareed did not follow the board resolution where it was resolved that FBC pays 54% of the Rights & 54% Tech fees & a further additional & substantial amount for sub - licensing the Rights. He made an agreement outside the Board resolution which he was clearly a part of & then proceeded to make a separate deal unbeknown to the Fiji TV board which has now resulted in a financial loss to Fiji TV and its shareholders. One of todays glaring examples is the fiduciary breaches of board members. When a board members acts outside the board resolution - that board members conduct and actions are illegal,null & void. The board member is then liable for criminal charges & civil actions by the shareholders themselves. Unfortunately for the board member, he cannot engage the company lawyer - he needs to look for his/her own lawyer to defend oneself. People need to be well briefed of their fiduciary duties when sitting on a board - otherwise, do not sit at all. Was there a board resolution when Tevita Gonelevu & Tanya Waqanikas employment contract terminated? For any board resolution, you first need a quorum as per the Fiji TV Articles of Association. Was there a quorum? no there was no quorum & no board resolution when our employment contracts were terminated. Where to from here? to court we go. See you NF
Posted on: Fri, 26 Dec 2014 10:26:20 +0000
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