IFL asking Price: $1 million

June 13, 2008

Conde Nast Portfolio does a quick synopsis of the IFL’s recent announcement that it was going into suspended animation while trying to partner up. There were some interesting tidbits contained within the article. The IFL has been on the block but this article is the first to actually throw out a figure being asked for the company, $1 million. It would be a steal at that price if not for all the assumed liabilities the company has on it’s financials. The article does let us now that the IFL has about $2 million in cash on hand, which will mainly be used to tide over the executive level through the third quarter as they still actively look to sell or merge with another company.

The article elaborates on how Larkin has slashed costs since he has been brought aboard. He has been able to reduce production costs significantly, going from about $1 million per show to about $125,000. While Larkin’s comment at the press conference that the IFL was no longer operating at a loss seemed dubious, if costs have been cut to that degree then kudos to Jay.

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