Bethenny Frankel’s dreams of breaking into the talk show market may officially be dashed.
The New York Post is reporting that after Bethenny’s talk show “failed to sell into syndication” it has been dropped by its producer Telepictures! “Several stations expressed interest, but there’s probably not room for Bethenny’s show this year,” a source close to Telepictures revealed. Warner Bros (which owns Telepictures) declined to comment on the state of Bethenny’s show.
Unfortunately Bethenny’s blunt, abrasive manner failed to attract the attention of major networks (despite receiving some help from a so-called “nice coach”) and was then overshadowed when several other celebrities with more cred, such as Katie Couric, Steve Harvey, and Anderson Cooper were snapped up for syndication.
As we previously reported, Bethenny was hoping her “advice-based” show would land a spot on NBC, the network that owns Bravo, but was bumped in favor of Survivor host Jeff Probst’s new show, which did well in test markets.
While the Bethenny Ever After star’s show was being test-marketed hoping to gain “traction” (or interest from networks) she found herself in the midst of a series of PR Blunders including a couple of Skinnygirl-related lawsuits and that whole lost-at-sea fiasco where she claimed she was forced to get a “gag order” against the captain of a rescue boat who disputed her version of events. These instances could have been explanations for Bethenny not getting the green-light from networks.
Yet all is not lost for Bethenny as she has supposedly received a few opportunities for other “TV types” now that the syndication deal is over. An insider is reporting she’s received offers from both cable stations and other networks.
Personally, I believe cable is a much better market for the over-the-top Bethenny who may not be able to taper her personality down enough for mainstream markets. I also believe she would do better in a panel-format show like The View.
Bethenny has not commented on the latest bad news – YET!
In other Bethenny news, Skinnygirl is now launching another product no one needs — Skinnygirl Face & Body. Bethenny Tweeted the exciting news: “Proud to announce: Skinnygirl Face & Body gift sets are @Walmart! A perfect holiday gift for Skinnygirls of all ages!”
Yes, just perfect! Named for her “famous” cocktails, fans can choose from a Sangria set or a Margarita set each of which contains a body wash, lotion and a body scrub. A picture is below. Oh, gee – I hope I get one for Christmas.
[Photo Credit: Josiah True / WENN.com]
THOUGHTS ON BETHENNY’S LATEST TALK SHOW DILEMNA? DO YOU THINK SHE SHOULD ATTEMPT ANOTHER TV PROJECT OR SHOULD SHE STICK TO REALITY TV? WOULD YOU TRY HER NEW BODY CARE LINE?
Bethenny Frankel has been the subject of constant controversy as of late; it seems every other day she is embroiled in some sort of issue causing a media tail-spin! Needless to say — it’s been quite a year for diet drink maven and wannabe mogul.
Bethenny has made no secret of her desire to leave reality TV behind in the hopes of landing her own talk show. Recent reports stated Mama Frankel had shot a pilot for her own show, but was having trouble hooking a network even going so far as to hire a coach to soften the abrasive, no-nonsense style that made her famous in the reality world.
The Hollywood Reporter describes that launching a talk show is a precarious situation for a network with all the competition from already established shows, thus they must carefully weigh who will gain the most traction with viewers nationwide. Basically, a show must stay in a holding tank and be demoed across a variety of markets before it is “cleared” in the “three-quarters of the country” needed to garner a launch. Once it gets a “launch” a network will back it and air the show.
“If NBC stations pass on her Warner Bros. Telepictures’ show, the former Real Housewife of New York could find it difficult to get the clearances she needs to launch despite support from Ellen DeGeneres,” THR explains of Bethenny’s predicament.
Well, unfortunately for Bethenny it seems NBC made the decision to go with Jeff’s show instead, while Ricki’s show is headed for the Tribune group of stations that helped launch Anderson Cooper’s now popular talk show. “This shuffle is probably bad news for Frankel who must now struggle to find enough carriage to make a launch likely,” the article alleges. Currently there is no expected launch for Bethenny’s show as she is still waiting to be picked up by major networks.
And there is more bad news for the reality star resulting from continued scrutiny over the contents of her “all natural” Skinnygirl Margarita! The New York Post is reporting an expanded lawsuit from former fans of the product, taking issue with the label’s assertion that the cocktail is concocted using “100 percent blue agave tequila.”
Christopher Rapcinsky and Erin Baker, currently taking action against the brand, have amended their $10M class action lawsuit for having “falsely claimed the drink was ‘all natural’ with ‘no preservatives’.”
Upon further investigation into the tequila used to produce the beverage the duo discovered it was actually “a lower quality and purity tequila by-product called mixto — essentially a mash of tequila and some unknown additives (rarely organic) which may comprise as much as 49 percent of the final mixed liquor.” Blech. All-natural, say what?
The duo’s lawyer, Tom Mullaney stated: “100 percent blue agave is not stuff people mix.” Additionally, he says comparing the mix to pure tequila is like “comparing Thunderbird wine to a fine Chianti. They’re both wine, but very different.” I’ll let you wine connoisseurs argue the veracity of his statement, as I’m an $8 a bottle kind of a girl.
The suit isn’t entirely blaming Bethenny (who is not named as a defendant) for the misconceptions, as it notes the discrepancies began occurring after Beam Global acquired the brand and the label changed at some point to say the drink was made “with premium Blue Agave Tequila,” removing the “’100 percent’ reference,” which the suit claims is “highly misleading.”
“Only time and pretrial discovery will tell what was really in the ‘tequila’ that went into the phony ‘all-natural’ margarita. What is certain is the fact that consumers would not have purchased Skinnygirl Margarita had they known it was manufactured with inferior mix to tequila,” the suit insists.
Beam Global is fighting back calling the suit “frivolous” and defending the label’s claims that the cocktail is made with premium tequila. “We will defend our case vigorously, and we are fully confident we will prevail,” the company’s rebuttal stated.
Bethenny’s reps have declined to comment on this latest attack on her product and she has not confronted the controversy via Twitter, opting instead to promote more products in the Skinnygirl line-up. Perhaps all the drama surrounding Bethenny might have something to do with networks passing on her talk show?
THOUGHTS ON BETHENNY’S LATEST DILEMNAS? ARE YOU SURPRISED HER TALK SHOW HAS NOT BEEN PICKED UP – WOULD YOU WATCH? THOUGHTS ON THE LAWSUIT: FRIVOLOUS OR WITH MERIT?
Easy come, Easy go! It seems like ever since Bethenny Frankel started rolling in the millions the lawsuits started coming at warp speed! In this latest lawsuit drama, the owner of a home that was used during the filming of Bethenny Ever After is suing the show and the network for illegally using his house!
For all of you fans (and some of you non-fans) who watched last season of BEA you’ll remember Bethenny’s fabulous Malibu beach house where Team Frankel celebrated Christmas. Well the owner of that house, Bijan Shahmoradi, has filed a lawsuit in L.A. County Superior Court claiming he did not authorize the house to be used for the taping of a show.
Apparently it all started when Bijan leased the 19936 Pacific Coast Highway property for a whopping $13,000-per- month, to “two people” who then “Illegally subleased” the home to NBC Universal (NBC owns Bravo) for the purposes of filming Bethenny Ever After! And when you film on location you must have permission from the property owner(s) if the site is private property. A photo of the house is below.
Bijan is now suing the tenant leaseholders for “allegedly violating their lease agreement” and also suing NBC Universal and Shed Media — the company that producers BEA and all the Housewives franchises. Mr. Shahmoradi claims that by showing the multi-million dollar property on television, it “invaded his privacy by exposing the mansion’s interior to millions of people across the world,” as he believes he has the right to keep his property out of the public eye.
In order to remedy the invasion of privacy he is seeking $25,000 in damages, plus “punitive damages and an injunction.” The injunction being that Bijan wants NBC to bar any further airings of Bethenny Ever After shows that feature his home! Yikes.
The question is: How exactly did a company as large as NBC Universal find themselves in trouble for what seems like a rookie mistake? According to The Hollywood Reporter it happens when the “producers sign a lease to use the property without sorting the tenant from the landlord.”
The lawsuit is claiming that NBC and Shed Media demonstrated “reckless disregard” by failing to practice due diligence to “inquire about the true owner of the property and publicly publishing the interior of the home without consent.” So basically they took the tenants’ word for it that it was their property and they had permission to use it however they saw fit!
As for how Bethenny is involved in this lawsuit — she is one of the producers of her own show! The suit does not implicate her or her wallet directly, but as a producer she is affiliated with the parties named in the suit. Of course, if Bijan is successful in blocking further airing of episodes featuring his home, Bethenny could possibly suffer financially as well. Who knows!
[Photo credit: WENN]
THOUGHTS ON THE LAWSUIT: FRIVOLOUS OR WITH MERIT? ARE YOU SURPRISED NBC AND BETHENNY EVER AFTER WEREN’T MORE CAREFUL ABOUT CHECKING WHO OWNED THE PROPERTY?
Finally some happy Bethenny news to report! In a new interview with In Touch Weekly,Bethenny Frankel opens up about being a mommy and discusses trying for a second child with husband, Jason Hoppy. In a shocker, Bethenny also reveals she is open to adopting!
“Women tell me they never regret having a second one, they regret not having a second one,” Bethenny reveals of wanting a sibling for daughter, Bryn. And now is the time for baby number two!
Following a year of many ups-and-downs, the Bethenny Ever After star who just celebrated her 41st birthday is ready to expand her family and is wondering if she will be able to get pregnant a second time. Bethenny tells In Touch: “I’m getting up there, especially for getting pregnant.”
While Bethenny insists they haven’t “ruled out” another biological child, if the couple does not conceive, Bethenny isn’t worried! “I am also open to adoption,” she shares. Bethenny explains that adoption has a lot of benefits, including “the freedom of not worrying about my age and the ability to give a child a home.” And hey – not having to worry about baby weight! Although that could be a whole ‘nother line of Skinnygirl products to roll out…
Bethenny confesses that she always knew motherhood was her destiny and before she had a man she considered adopting as a single mother. “When I had no prospects, and no idea what the future held, I thought I would adopt,” she declares.
Though she finds that “balancing career with being a mother is challenging,” even with nannies, she definitely wants to expand her family. “I know what’s important now and I just love being home with my family.” The Frankel-Hoppy family adopting would definitely be an interesting and exciting twist on what could possibly be the final season of their show!
Best of luck to Team Frankel!
THOUGHTS ON THE ARTICLE AND BETHENNY’S HONESTY ABOUT HAVING ANOTHER CHILD?
Speaking to Access Atlanta while promoting Skweeze Couture (is anyone buying that?), the formidable former Housewife was refreshingly candid, which means she basically put her foot in her mouth and said things that are bound to get the public all riled up!
Jill admits she would have “liked to stay on the show” for the opportunity and income it provided, but she isn’t necessarily sad it ended! “Now that I’m off the show, I can see my reputation getting better,” she insists. “Things improved season four after it was damaged season three. People are starting to realize, watching other reality shows, that maybe they were too harsh on me.” We are? Well perhaps, in light of former bestie and co-star Bethenny Frankel’s latest issues with the media some fans may be reconsidering their opinions of Jill and the demise of her friendship with Bethenny.
About that feud… Jill was eager to address that what we saw on TV was not necessarily how it played out in real life. Cue the Producer Manipulation accusation employed by all reality stars in times of strife! Jill insists that the time Bethenny called her to discuss their imploding friendship and Jill put her on speaker phone while her new BFF, LuAnn de Lesseps was sitting next to her to over-hear everything wasn’t to be mean and catty, but to accommodate the producers! Apparently, Jill didn’t realize Bethenny also had a camera crew with her at that same time. Oops. Regardless, that doesn’t redeem all the catty comments!
Jill cites another incident where she put former cast-mate Ramona Singer on speakerphone only for Ramona to make rude comments about LuAnn while LuAnn was sitting right there!
Despite the pain it caused her and the loss of her friendship with Bethenny, Jill (who once said she thought the feud was manufactured for TV drama purposes) is thankful for her experiences on RHONY. “Four years was much longer than I ever thought the show would last,” she reveals. “I’m grateful. And the show lives on. Plus, repeats are now being rolled out in other countries so I get emails all over the world asking me if I’m still best friends with Bethenny.” I wonder if she tells them to Google IHJZ!?
Jill claims she sensed her time was coming to an end with Bravo and was prepared and expressed her disappointment over the reactions of other fired Housewives, namely Alex McCord and Simon van Kempen who asserted Jill was responsible for Alex’s termination! Alex is quoted as saying Jill has “been trying to get me off the show for a number of years. She succeeded…She’s a manipulator and she’s very good at feeding information to her own end.”
“I was disappointed by what they said,” Jill reflected. “It hurt my feelings. For good or bad, we made great television. We had fun together. Season four, I didn’t have one fight with Alex. We got along in Morocco. Don’t go after me. Go after another housewife that did something to you, not me.”
“After we were let go that Saturday night, I reached out to all the girls, including Alex and Simon. I said if you need me for anything, I get booked for appearances and if they need other people, I can suggest you. Now I don’t want to work with them,” Jill remarks. “I was trying to be nice.”
Jill assures us, once again, she is not finished with reality TV! Apparently her Bravo contract “limited her ability to make appearances on shows on rival networks”, but since the “The Golden Child” Bethenny was able to appear on the horrible Skating With The Stars, Jill believes she’ll be able to go to another network, no problem. In fact, she is “in talks” to do a new show though nothing is set in stone just yet. I seriously hope it has nothing to do with Patti Stanger’s proposed “Glamazons”!
“I think people are going to miss me,” Jill believes, confident that once Season 5 premieres without her everyone is going to wish she was still included in the cast. I wouldn’t bet too much money on that one, Jill!
In other Jill news, the product she is desperately hawking, Skweeze Couture, is on the market and Jill insists she knows what she’s doing! “It’s not like I’m a celebrity who woke up and said, ‘Oh, let me do a line of this or that.’ What I’m doing makes sense based on what I already know. I feel like I’m filling a void.” Apparently, lots of women need girdles!
Apparently. Since the NY Daily News reviewed Skweeze (and two other shapewear companies, although not Skinnygirl Shapewear) and found that while it definitely sucks in your fat, you might need “the Jaws of Life” to remove it! When asked if Skweeze was supposed to be so um… restricting, Jill replied: “I didn’t make it to be comfortable, I made it to work!” Well the reviews are in and it works, it’s just about the most uncomfortable garment ever manufactured, but “it lives up to its name!”
[Photo Credit: PNP/ WENN.com]
THOUGHTS ON JILL’S INTERVIEW? ARE YOU SURPRISED SHE IS STILL TALKING ABOUT GETTING FIRED? DO YOU THINK HER SPEAKER PHONE GAFF WAS INTENTIONAL OR AT THE BEHEST OF THE PRODUCERS? WOULD YOU TRY SKWEEZE AFTER READING THE REVIEW?
Bethenny has had a tough shakes of things lately, and there has been much speculation about her versions of the truth being you know, truthful, but is she really still so angry at Jill she would sabotage her career? Somebody thinks so!
Bethenny is the subject of a scathing new report by the New York Post which not only claims she plotted to get Jill fired from the show that made them both famous, but that she’s also a master manipulator, and that the real-life of Bethenny is totally different than what the world sees.
I’m not sure how reliable this unnamed source is and I’m also not sure I believe most of this article, but you can decide for yourself what you think.
“Every single person in her life is someone who is on her payroll, including her husband,Jason Hoppy,” the insider insists. “Bethenny’s whole agenda has been to keep it real, and none of it is real. It’s all planted stories and her trying to bury her enemies.”
“Everything she’s done, from what she did to Jill Zarin on the show with behind-the-scenes torture to what she’s doing now, is pure Bethenny.” The insider, who purports to be close to Bethenny, is not giving a reason for why Bethenny would still harbor such resentment towards Jill and claims that during her final season as a housewife, Bethenny refused to speak to Jill unless cameras were rolling and exacerbated a petty argument into a “full-blown war” in order to boost her popularity. That same insider also claims Bethenny manipulates Andy Cohen.
An unnamed media observer declares that Bethenny went into Housewives with a plan. “She had done a reality show, with Martha Stewart’s ‘The Apprentice,’ before any of the other housewives, so she was always 10 beats ahead.”
“She is the best publicist-marketer-hustler I’ve ever seen. She is PT Barnum. But the sad thing is the amount of people she’s thrown under the bus to get to where she is,” observer continues.
The article claims Bethenny “carefully manipulates reporters to meet her goals,” alleging that early on in her career, Bethenny would call gossip columnists to plant items that were either exaggerations or blatantly false, aka the rumor that she dated A-Rod. Several gossip editors reportedly instituted a “Bethenny ban” because her calls were so frequent.
“She dated WireImage’s photographer Kevin Mazur and made sure to get pictures on the red carpet before anyone knew who she was. She is the best publicist-marketer-hustler I’ve ever seen. She is PT Barnum. But the sad thing is the amount of people she’s thrown under the bus to get to where she is,” says a media observer.
The unidentified insider feels Bethenny’s days on top may be numbered as even those in her employ are tired of her “More, more, more, mine, mine, mine” attitude. “Being around her is like having chest pains,” the source explains. “She is a horrible, horrible screamer. Every person around her is feeling the anxiety. She goes from 0 to 60 in a second. You open the door, and you have no idea. It could be a storm, it could be a dozen roses.”
“I hate to say it, but as one of the producers from the show told me: ‘We’re just hoping it’s going to be, “Bethenny’s Getting a Divorce?” snipes the insider. “Because how long can this go on for?” the source comments on the fate of Bethenny’s show Bethenny Ever After. “The minute she stops being viable for Andy and making money, he’ll walk away from her just like he walked away from everyone else,” says the same insider who accuses her of manipulating Andy.
The source also alleges that Bethenny’s got Jill axed from RHONY. Does she really have that much pull??? Bethenny’s “whole game plan was to pull Jill down, and she did it and Jill got fired.”
Jill who has recently spoken out defending her former friend’s on-going troubles in the media (hey, she knows from experience), stated: “I hope she sees [the bad press] as a mere bump in the road and chalks it up to a lesson learned. Everyone makes mistakes but it is how you handle it that defines you.”
But when a fan Tweeted Jill a link to this article, writing: “This article confirms everything I always suspected about Bethenny & Andy Cohen! Vindication for @JillZarin at last!!” Jill responded, Tweeting back: “Sad day for me to find out.”
Jill later followed up with another Tweet pertaining to the article, remarking: “Haters will never believe truth. It would mean admitting they were wrong.” Bethenny has yet to comment on the accusations. It appears Jill is insinuating the article is accurate and Bethenny did get her fired… which all seems slightly absurd! Did Bethenny get Alex McCordand Kelly Bensimon fired as well? At the end of the day, I don’t believe Bethenny has enough pull at Bravo to get anyone fired!
THOUGHTS ON THE ARTICLE? WHAT DO YOU BELIEVE? IS THIS THE WORK OF A BITTER UNNAMED SOURCE TRYING TO TEAR DOWN BETHENNY’S SUCCESS OR TRUTHFUL INFORMATION?
Today Bethenny Frankel is firing back and furious at all the recent “lies” about her in the press!
Just to rehash the last few months in Skinnygirl Frankel’s magnum opus of falsehoods; Bethenny (who is also being sued by her ex-manager) got caught in a fib about the ingredientzes in her infamous Skinnygirl Margarita, resulting in it being pulled from Whole Foods shelves, which resulted in some additional “fan” lawsuits.
Then she fibbed about how much money she sold said company for. Well she didn’t lie, per se, she just never actually corrected anyone on the $120M number, when it was actually more like $64M. Still, a good chunk of change for schlock.
Finally, Bethenny has been implicated in a lie involving a “lost at sea” shenanigan where she attempted to manipulate the US COAST GUARD for a reality show! Of course, Bethenny is not to blame for any of this! It is irresponsible journalists spewing venomous lies in an attempt to destroy her. Remember: “Everyone wants to tear down a success!”
Now, on to the latest. If you recall, last week the towboat operator who “rescued” the desultory Team Frankel from their adventures at sea (hosted by her therapist) spoke out after Bethenny dissed him on The Ellen Show, claimed she gave him a $2800 tip for his services (which he denies), and then threatened to have sex with him as a thank you. Classy.
Tim Russell, the towboat operator, who rightfully felt offended that Bethenny would jeopardize his business for her own personal gain, explained his version of the events, which dispute nearly all of her accounts. Now I am one for believing there are three versions of every story, but it might be worth mentioning THE US COAST GUARD supports a portion of his recollection, specifically the statement that it was him that aided the group and not the Coast Guard, despite receiving a delusional phone call from someone on Frankel’s boat requesting unnecessary assistance.
And if you remember when Bethenny originally “broke” the story to her fans via Twitter she stated she was lost at sea for hours and RESCUED by the US Coast Guard. Do these Tweets still exist? Indeed they do, for Reality Tea has a screen shot!
Bethenny recently told US Weekly: “My entire brand is based on that [honesty]. I felt like I had a responsibility to my fans to say something,” in response to all the allegations. Perhaps all that saying something is what is getting Bethenny in more and more trouble!
Well yesterday, Bethenny made an appearance on the Today show with poor Matt Lauer where she ranted about people wanting tear her down and gave her opinion on all the lies being told about her. “There are certain people and certain bloggers…they want something to be wrong,” she seethed. “They want it to be that I lie or cheat or I must have done if I can have this success.”
Finally Bethenny confronts lost at sea-gate and she feels the situation was very real and very dangerous. “My sound guy doesn’t know how to swim,” Bethenny explained. “They lost a lot of the tapes because of salt damage…” she also insists some camera batteries were dead. Oh no, a casualty! #getoveryourself.
Granted, a person who does not know how to swim is definitely dangerous on a boat, but does it warrant Coast Guard intervention? Apparently no, because now Bethenny is claiming they were never involved!!
“The towboat man who accused me of lying has been put on a gag order because what he’s effectively saying is that we called the Coast Guard. It’s like calling 911 without an emergency. I’d be in jail probably.” WAIT. HOLD UP – REWIND. Seriously – read that again and then go back and look at the facts.
Bethenny, HERSELF, stated that the coastguard rescued them. The Coast Guard confirms they were called and declined to assist, stating their boat was not in danger. The towboat operator only said just that – the coastguard suggested they call a tow company, which they did, and he helped lead them back to shore. For verification, see the original Tweets below. Perhaps Bethenny is upset that he outed her on making up a story about the GPS being broken because they were essentially trying to manipulate a plot for Bethenny Ever After?
In fact, even Bravo confirms Bethenny’s boat called the Coast Guard, releasing this statement: “The Coast Guard referred a private tow vessel who eventually led their boat out. When people see the episode, they will certainly see for themselves that this was very real.” Whose version of “real”: theirs or mine?
Now Bethenny is blaming Tim Russell for her “mis-rememberings” by issuing a very transparent and pathetic gag order – what is she trying to prevent him from releasing? The truth?
Bethenny went on to bash “irresponsible bloggers” some more and says her outrage is all for her fans, calling the accusations of lies, “all a bunch of nonsense.”
“You have to spend 24 hours of your life defending your honesty to your fans. [These stories are] irresponsible journalism and … a waste of your time,” she lamented to US Weekly over questions about the legitimacy of her stories.
All of this begs to ask the question – Who is crazier: Bethenny or Kelly Bensimon? Because Scary Island is starting seem a little different after learning the lies Bethenny is apparently capable of telling, despite public records disputing them, and most disturbingly that she doesn’t seem to remember the original lies she told!
Maybe she should eat something and put the cocktails down…
SO WHAT DO YOU BELIEVE? IS IT HYPOCRITICAL OF BETHENNY TO SHUT TIM UP? IS BETHENNY TELLING THE TRUTH OR NOT?
Days after the Huffington Post reportedBethenny Frankelonly received $8.1 million for the sale of her Skinnygirl drink line, and not the widely reported $120 million, both Bethenny and Forbes are now firing back!
First Forbes is stating they stand by the $100 million figure. If you recall, the Bethenny Ever Afterstar graced the cover of Forbes back in May during which they declared she sold the drink line for $100 mil — $20 mil less than the amount originally reported by The Hollywood Reporter.
So what exactly was the $8.1 mil figure about? Well according to a financial analyst, the $8.1 million is merely the value of the goodwill attributed to the brand.
“The $8.1 million was just the amount of intangible assets purchased in the Skinnygirl transaction, essentially the amount Beam paid for the Skinnygirl brand rights—not the total purchase price,” saidanalyst R.J. Hottovy to Forbes.
So how did Huffington Post’s Rob Shuter get it wrong? Well for starters the actual price Beam paid for Skinnygirl is missing from the 10-Q statement and Bethenny cannot publicly disclose the amount due to a confidential agreement. Beam is also refusing to disclose the amount and they can actually get away with doing that under accounting rules.
“We will continue to disclose accounting data as required to be included in financial filings,” said Beam Global spokeswoman Paula Erickson, “but do not expect that a black-and-white lump sum ‘purchase price’ figure will be made available. Suffice to say, this was not an $8.1 million acquisition.”
So the BIG question now is how much did Bethenny really receive for the sale of her drink line? According to Forbes, that figure is at least $39 million. See Beam listed $39 million in their financial disclosures for acquisitions made in the second quarter of 2011. And as financial analyst R.J. points out, the only acquisition the company made during that period was for the Skinnygirl Drinkline.
“The only deal they announced over that period was Skinnygirl,” said R.J. “This means [Beam] paid at least that much for Skinnygirl [during that period].” He goes on to add that there may be additional elements to the deal not accounted for or visible in company filings, including stock options that could yield Bethenny additional long-term returns.
In addition to the $39 million Bethenny likely received upfront, she also stands to earn up to an additional $25 million. The company’s financial statement revealed “the Company may be required to record contingent consideration in an amount not in excess of approximately $25 million.” That basically means Bethenny stands to earn up to an additional $25 million based on future sales, incentives, meeting high targets etc.
Bethenny herself confirmed this to Forbes stating she’d get “on-going back end”—payments based on how well Skinnygirl’s cocktails sold after Beam took control. Experts say Bethenny should be getting that $25 million as “sales of Skinnygirl have exceeded expectations for 2011 and that threshold will be met this year.”
According to Forbes, this brings “the value of the deal to at least $64 million in this year alone, without accounting for any further payments or other compensation for Frankel.” Bethenny adds, “The acquisition was structured with various potential payout levels based on sales of Skinnygirl products.”
Bethenny of course also fired back at critics. When asked about the reported $8.1 million figure, Bethenny said laughing: “Come on. That it could be the fastest growing booze brand on the market and have sold for that little is just preposterous… I’m going to be paying a hell of a lot more than $8.1 million in taxes.”
As for the Huffington Post, they have since retracted their original errornous report stating they “regret” it.
However, some things are still not adding up. For example, where did the $100 million figure come from? It appears Forbes can only put a $64 million figure on the deal and cannot account for the remaining $36 million. Yes, it’s clear Bethenny potentially stands to earn more, according to her, but it would have been nice if Forbes could further explain how exactly they were able to put a $36 mil figure on that potential income.
Other things that make you scratch your head is the fact that immediately following the Huffington Post’s report, Bethenny quickly removed the Forbes $100 million cover story from her website. Why remove the article if it’s accurate?
Also more odd, Forbes released the statement below to the Huffington Post before they ultimately decided to back Bethenny and themselves on the issue -
“We’re taking this very seriously. We based our numbers at the time of reporting on solid sources. We’re aware of the new information and we’re looking into it right now,” Dan Bigman, Forbes executive editor stated. “We’re going to review all the information thoroughly and talk to Ms. Frankel before taking any steps. If there are any inaccuracies, we’ll correct them. If clarification is required, we’ll do so.”
As for Bethenny, she also tweeted: “Most people are morons. Stay tuned.” She later added, “Only listen to sources you trust. Irresponsible journalism is a waste of your time.” Bethenny also changed her Twitter profile picture to her Forbes cover. That cover is below.
Must say Bethenny should be giving thanks that this Huffington Post report came out just in time to distract the public from Lost-at-sea-gate!
Photo credit: Roger Wong/INFEvents.com
TELL US – THOUGHTS ON THE LATEST? SOMETHING FISHY ABOUT THE $100 MILLION FIGURE OR MUCH ADO ABOUT NOTHING?