NMT Assets Set for Auction Friday; 47 Employees Laid Off
By Ken Kerschbaumer
National Mobile Television has laid off 47 staffers, with none receiving severance pay, and closed offices in New Jersey and Florida, and appears to be setting the stage to close its doors after more than 40 years in operation. The Torrance, CA-based remote-production company’s secured lender, Wachovia Capital Finance, has also issued a Notice of Public Sale of Collateral for the company’s remaining assets during an auction that will take place April 3 at 10 a.m. CT.
Twenty-one employees” 12 engineers and nine administrative workers” remain on hand to service existing clients, notably the MSG Network and the Phoenix Suns (the field shop in Torrance, CA, and the Dallas equipment warehouse remain open). It is not yet known whether NMT will service MSG and the Suns through the end of the season and playoffs. “That is still to be decided,” says Wachovia Capital Finance VP Brian Hynds.
In recent months, the company sold off assets and contracts to NEP and NCP in an attempt to stay afloat. However, the current economic climate and a lack of consistent future business led to Wachovia’s decision to close the doors. Assets to be sold include two HD production units (HD3 and HD10), seven digital trucks, and one side-by-side unit.