GENE SIMMONS' NGTV Withdraws IPO

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Feb 21, 2007, 11:24:51 PM2/21/07

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According to RedHerring.com, No Good TV, a bawdy Internet and pay
television programmer that KISS bassist/vocalist Gene Simmons chairs,
has withdrawn its planned $43.1 million initial public offering.

The company, based in Beverly Hills, California, had planned to raise
the money to fund the launch of music- and celebrity-driven programs
whose profanity and nudity would bump against Federal Communications
Commission decency regulations if aired on broadcast or cable TV,
according to a government filing.

The company's web site, NGTV.com, had a slick animated film promoting
the channel's launch Feb. 24. Calls to the company co-president,
Kourosh Taj, and one of the IPO's underwriters, S.W. Bach & Co., by
RedHerring.com were not immediately returned and it was unclear how
Thursday's (Feb. 15) IPO withdrawal would affect the programming
rollout.