Exec ankles as RCN readies troubled launch
MIAMI — Veteran international distribution exec Michael Solomon has ankled a partnership in a startup Colombian broadcast net.
Via an association with investor Fernando Restrepo, Solomon was to have taken a stake of 12% or 15% in RCN, one of two programmers recently awarded Colombia’s first-ever private broadcast licenses. The nets are due to bow in May, with startup costs estimated at upwards of $300 million.
According to RCN programming VP Mauricio Calle, Solomon has indeed departed, though there is as yet no official confirmation. Calle adds that Restrepo’s entire 30% commitment to the net might be in jeopardy.
Solomon was not available for comment, but an insider says that RCN’s launch plans have been troubled for several months by weak leadership, as recently named RCN topper Ricardo Londono does not have a background in TV.