Verisimilis

CLIENT PROFILE

Founder Owned
TV Production

CLIENT PROFILE

$250mm
Late

PROCESS DETAIL

Turnaround & Growth
16 Weeks

PROCESS DETAIL

Streaming Media, Production, & Direct-to-Consumer
Unscripted Television, Streaming Audiences, & Branded Content
A prominent, EMMY Award-winning unscripted television production company engaged Quire to guide it through a strategic and operational turnaround in preparation for a fundraising effort.
The client was founder-owned and unprepared to raise outside capital. Additionally, the team’s hand was forced due to COVID shutting down all production coupled with the real need to continue funding its team, infrastructure, and technology costs.
Quire deployed a team of financial, operational, and debt experts to support the restructuring, as well as strategists who could help identify potential investors.
  • Build a new plan reflecting a refined strategy with reduced costs and people.
  • Develop a supporting financial model and projections to support a fundraise.
  • Provide detailed guidance to the team on potential investors and tactics.

Our behind-the-scenes work was instrumental in saving the company, retaining a core team, and doing the work necessary to bring in new, strategic capital.

Financial, premium long-form content, creative agency, and debt restructuring experts were deployed into the client organization. Additionally, experts in innovation, social media, and digital commerce rounded out the team’s skillset.

  • Assess leadership and execution culture.
  • Deploy a team that could function as internal executives leading key workstreams independently from company leadership.
  • Cost, employee, and infrastructure rationalization, with a focus on preserving core creative skillsets.
  • Strategy reset considering COVID shutdown and anticipated changing market demand for premium television.
  • Prepare & position the company optimally to raise new capital.
  • Identify new forms of revenue and overhead savings.

Our client lived to see another day due to Quire’s aggressive efforts, ability to fill key roles, and address complex issues.

  • Addressed cost structure to attract capital.
  • Worked with management to negotiate new terms with vendors, including $20mm in debt forgiveness.
  • Restructured key agreements to reduce structural liability burden without limiting ability to build great content.
  • Developed business ideas to leap the company into new revenue opportunities based on existing brand credibility and retained talent.
  • Provided complex valuation and financial analysis to support investor interest, including leading the strategic discussions with parties interested in investing in the client.