While it continues to evaluate its strategic options, adult TV pioneer New Frontier Media said in a statement late Tuesday that it has terminated its co-founder, chairman and CEO Michael Weiner.
New Frontier is currently conducting a search for a new CEO, and in the interim the role will be shared by chief financial officer Grant Williams, chief legal officer Marc Callipari and chief technology officer Scott Piper. New Frontier director Alan Isaacman, founder and senior member of the Los Angeles-based law firm of Isaacman, Kaufman & Painter, P.C., has been named chairman of the board.
New Frontier, which distributes adult channels The Erotic Networks, VaVoom, Penthouse TV, XTSY and Juicy, received two unsolicited takeover offers from investment groups earlier this year which were later rejected. In July the company said it had created a special committee of independent directors to evaluate its strategic alternatives, including a sale.