April 10, 2018

New Media Consortium is Ending All Operations Immediately, Organization is Insolvent

The news below arrived today via email.

The New Media Consortium (NMC) is perhaps most well-known as the publisher of the Horizon Report series.

Here’s the full text of the email announcement (Also Available Here)

2017-12-18_17-36-42The New Media Consortium (NMC) regrets to announce that because of apparent errors and omissions by its former Controller and Chief Financial Officer, the organization finds itself insolvent.  Consequently, NMC must cease operations immediately.

NMC would like to sincerely thank our loyal and dedicated community for its many vital contributions since its inception in 1994. NMC is grateful to its current executive director and NMC staff for their tireless efforts to connect people at the intersection of innovation and technology.

NMC will be promptly commencing a chapter 7 bankruptcy case.  A trustee will be appointed by the court to wind down NMC’s financial affairs, liquidate its assets and distribute any net proceeds to creditors.  The case will be filed in the United States Bankruptcy Court for the Eastern District of California.

Please understand that NMC’s assets may be sold as part of the bankruptcy process and another entity, potentially a nonprofit, may yet go forward with our summer conference.  Nevertheless, before sending any payment for 2018, please contact our counsel Reno Fernandez at (415) 362-0449 ext. 204, and he will connect you with the trustee once he or she is appointed.

Gary Price About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.

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