Black Entertainment TV is investigating how to recoup some $ 700,000 that it says were “unauthorized payments” by the fledgling cable company .
In its earnings release on Tuesday, BET said that it took that amount as an administrative and general expense as “attributable to the unauthorized payment of goods and services that were not received by the BET Cable Network.”
The company added that it is pursuing recovery of the payments. But it is “not currently determinable” whether BET will be successful, it said in a release. As a result, the payments have been taken as charges. Company officials were unavailable for comment. authorized
BET had a shake-up of its financial management in September with the removal of CFO Antonia Duncan and the company’s controller, replacing Duncan with Alan Nichols, Jr., who headed corporate development. In a statement released at the time, BET said the move occured after a review of the finance department operations and practices.