The Vancouver-based firm, which helps content creators grow their audiences, said late Tuesday that a special board committee has recommended some of its issued and outstanding subordinate voting shares be acquired at about $0.38 each by a numbered corporation owned by BBTV’s CEO Shahrzad Rafati and board director Hamed Shahbazi. (The Logic)

Talking point: The committee determined that the deal “represents the best available path forward” for all stakeholders. It noted BBTV’s shares and debentures are very thinly traded with low volumes, which substantially lowers any benefit from being public. Its shares have traded under $1 since August 2022. As a private company, it will also not face financial and administrative reporting burdens, while having the flexibility of operating privately, the committee said in a release. Subject to closing conditions, the deal is expected to close at the end of November. BBTV has struggled since going public in late 2020, laying off staff, refocusing the business and forgiving a $2-million loan to Rafati.