Carlsbad-based entertainment company NTN Buzztime (NYSE: NTN) released further details Monday on the corporate and company restructuring that has taken place over the last few months.
The company laid off 17 percent of its work force in January and plans to hone in on the top 30 designated marketing areas in the United States. NTN Buzztime hopes to be cash-flow positive by the fourth quarter of 2009.
The company also reshuffled its board of directors, including the February appointment of Terry Bateman as CEO.
Bateman was appointed to the board of directors in November and has most recently been serving as the board's special adviser on the company's Interim Committee of the President.
Bateman spent the early part of his career at Whittle Communication, one of the pioneers in OOH, developing and selling new media properties.
He was then president of the Marketing Services Division of Snyder Communications, president and CEO of Barton Cotton, CMO of the Washington Redskins and CEO of Dick Clark Productions.
The company also appointed Michael Arzt as executive vice president of marketing and added former CFO Mary Beth Lewis to the board. Gary Arlen and Bob Clasen have resigned from the board.