Media company Hit Network in negotiations for acquisition of Ben Armstrong's assets
In a recent development, TJ Shedd, CEO of Hit Network, has extended a buyout offer to Ben Armstrong, the popular figure behind the 'Bit Boy' brand. The offer was announced during a company meeting or official communication related to the sale process, though the exact platform or document remains undisclosed.
The buyout offer is conditional on Ben Armstrong accepting it. If accepted, Hit Network plans to completely buy out Ben Armstrong from the 'Bit Boy' brand. The offer is for 67% of the business valuation after an appraisal, and the payout would be made in parts over a period of 5 years.
TJ Shedd stated that Ben Armstrong has been delaying the process by fighting it. However, he affirmed that the buyout offer is still on the table for Ben Armstrong. The judge has dismissed Ben Armstrong's motion to halt the buyout deal, indicating that the process continues unabated.
Despite the ongoing legal proceedings, Hit Network continues its plans to complete the buyout. The valuation process, which is being conducted with the intent to pay Ben Armstrong, is still ongoing. No new conditions or terms of the buyout offer were disclosed in this paragraph.
It is important to note that the CFTC is targeting Ben Armstrong's former firm for alleged frauds, but this paragraph does not provide details about that. During an interview with Altcoin Daily host Aaron Arnold, TJ Shedd denied the allegation of stealing from Ben Armstrong and firing him without reason.
No new information about the current status of Ben Armstrong's response to the buyout offer was provided in the interview. Hit Network is still proceeding with the valuation process to determine Ben Armstrong's payout. The interview did not provide information about the current status of Ben Armstrong's response to the buyout offer.
The ongoing buyout deal and valuation process between Hit Network and Ben Armstrong promise to shape the future of the 'Bit Boy' brand. As more information becomes available, we will continue to bring you updates on this developing story.
