Dissident shareholders gain control of Rentrak

CEO Berger resigns amidst discussions

PORTLAND, Ore.– Ron Berger lobbied for votes into the early morning hours Tuesday, but the Rentrak chairman and former CEO said that it appeared the dissident group seeking control of the company was ahead by 1 million votes.

With many votes cast at the last minute at the shareholder meeting, a final tally was not scheduled to be released by private auditors until Wednesday. But the two sides immediately met following the 45-minute vote to discuss “transition” issues.

“Whether the vote is 60-40 or 40-60, there’s a group of disenfranchised shareholders out there,” said Berger, who resigned as chief exec Friday because he had become a “lightning rod” for the opposition.

Paul Rosenbaum, leader of breakaway shareholders org the Committee for the Achievement of Rentrak Excellence, is expected to be named interim CEO if Care is victorious.

On Tuesday, Rosenbaum said he anticipated “a very effective and easy transition.” He added that he had already contacted key execs to assure them that changes at the revenue-sharing distributor would be minimal.

Rosenbaum’s group had put forth a slate of five candidates to replace Rentrak’s nine-member board. His first task as chief exec would be to hire a consultant to evaluate the company’s operations, he said.

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