Resignation & $4.8M Payment Created Shake Up At Cyberplex Business Unit
Waterloo-based Tsavo Media has announced they have been in discussions with Yahoo! as a result of some issues that have resulted in what seems to be some concerns on the quality of traffic that has has been delivered to Yahoo! . Tsavo Media has now been informed that it will be required to pay approximately $4.8 million to Yahoo! over a reasonable time period currently being discussed, notwithstanding prior information that indicated good quality traffic at that time. This amount may be partially offset by achieving certain performance incentives and anticipated improvements in average revenues per click, but the company noted that there can be no assurance as to how much, if any, of this payment to Yahoo! would be offset through these incentives and improvements.
The fine has also triggered the resignation of Tsavo Founder Ted Hastings, to resign from Tsavo, who’s parent company is Cyberplex Inc. Hasting became President of Cyberplex when it acquired Tsavooin 2010. Cyberplex’s Board of Directors has also now formed a special committee to review the status of Tsavo and strategic alternatives to create shareholder value.
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