VSB: Kenneth DeFontes Remains The Principal

August 17, 2014

Spencer ConwaySpencer Conway [pictured] did not “come up with the agreed purchase monies” to buy DeFontes Broadcasting and as a result Kenneth DeFontes “continues to be the principal behind the broadcasting companies,” the broadcaster said today.

A statement from the company said, “Longtime local businessman Mr. Kenneth DeFontes, founder of DeFontes Broadcasting [television] [VSB TV11] and DeFontes Broadcasting Company [VSB radio], wishes to advise the public that contrary to recent statements in the press and otherwise, he continues to be the principal behind the broadcasting companies.

“Mr. DeFontes did agree to sell the companies earlier this year to Mr. Spencer Conway but Mr. Conway did not come up with the agreed purchase monies. As a result of this failure on the part of Mr. Conway, Mr. DeFontes rescinded his agreement to sell. The matter is now the subject of court proceedings.

“Mr. DeFontes, who has been in business for many years, advises that he has found the whole matter very disappointing. He has continued throughout the period to be involved in the operation of the broadcasting entities and has been forced to make available the necessary financing to keep the staff employed and the stations on the air,” the statement concluded.

Last month the situation came to attention after the doors of DeFontes Broadcasting were briefly locked.

Speaking at that time a VSB spokesperson said, “Following a breakdown in the negotiations between DeFontes Broadcasting Limited and a management team headed by local businessman Spencer Conway, plans for a business alliance have been suspended.

“A writ has been issued in the Supreme Court by DeFontes Broadcasting alleging misrepresentation, and this will need to be answered within the next 7 days.

“In the meantime, a notice was served on Wednesday by Mr Conway on Mr Kenneth DeFontes, President of the Company, demanding that he leave the Reid Street office. The letter was rejected.

“This morning in response to a warning that Mr Conway planned to return to the offices at 11.00am with security officers, the main doors were locked for a short period of time. No such visit occurred and the company is operating as normal.”

In addition to the situation with DeFontes, Mr. Conway appeared in Court on Friday [Aug 15], having had other parties — separate to DeFontes — take legal action against KG Ltd, a company connected to Kalista Global which Mr. Conway is listed as the President of.

The company website states “KG is the parent company of KG [2] Ltd. [KG2] which recently acquired the DeFontes TV and Radio broadcasting companies.

“The new KG2 broadcasting entity will enjoy expanded investment and growth opportunities through the business and strategic connections of KG while maintaining its existing critical presence in the Bermuda media and broadcasting markets.”

Attempts by Bernews to get comment from Mr. Conway and/or KG via both phone calls and emails have been unsuccessful as of this time, however we will update if able.

Update Aug 18, 7.18am: We remain unable to get comment from Mr. Conway and/or KG. We did establish phone contact with Mr. Conway at around 11am yesterday [prior to posting this story] however once we identified ourselves to him and said what we were calling about, an issue arose with the phone connection and the line went dead.

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Comments (29)

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  1. Truth is killin' me... says:

    Smells fishy…the lot of it!

    • Nitty Gritty says:

      I want to buy your business.
      How much you want?
      OK sounds fine, I will deliver a check Monday.

      I never got your check

      That’s because I now own your business and you need to hand over the checkbook so I can write the check!

      Learned that from Wall street

  2. bi says:

    Such a sad affair for mr defontes. He has done great things to protect his staff. He didn’t deserve this mess.

  3. Mumbojumbo says:

    No ticky no washy……

  4. trulytruly says:

    How can Spencer Conway say he owns De Fontes Broadcasting without paying for it??

    • Kangoocar says:

      @trulytuly, he can’t !!!!!

      • Trulytruly says:

        He has been saying he does for months on his website…

        • Lucky 7 says:

          He agreed to pay a certain amount of money by a certain date and only came up with a small portion of it and the date has passed, so…..he owns nothing!

    • Hurricane says:

      He can say anything he wants, does’t mean it’s true

  5. swing voter says:

    KD may be calm and unassuming, but he ain’t no push-over lol

  6. wondering says:

    this guy Conway seems to be affected by something because only someone in that state would say that they own a company they never paid for!!!!!!!!!!!!!!!!!!!!!!!!!!!

  7. Keepin' it Real!...4Real! says:

    hmmm…maybe the money conway thought was available suddenly backed out…

  8. frank says:

    so what is the price you want kenny

  9. Over 40 says:

    here is what happens to the most prominent members of the Under 40s Elite who start to believe their own hype, whilst actively excluding others from an industry and blocking people from getting employment in their own Country.

    Not to worry, he has the right industry connections and will be re-hired as a VP ahead of January 1 renewals on $220,000 + housing + stock options + performance bonus.

    Like an MP this one will land on his feet so no tears needed.

    • Mainsail says:

      I’m not sure he will. This one was always a laughing stock, I’m surprised it lasted as long as it did. You can’t just make up titles, and expect everyone to go along with it.

      • Conservative says:

        Mr Conway will land on his feet, just like MP Pettingill. He has the right connections in IB, good CV (save this confusion) and you all know he ticks the most important criteria in modern day Bermuda, “The Right E…..” and he has “Status by Stealth”, no longer LTR or on a work permit

        • Trulytruly says:

          How little you know.

        • theothersidebda says:

          a) he is born Bermuda
          b) he is not well placed in IB at all

          So you are wrong on all accounts.

        • Pondering says:

          The guy’s Bermudian, he’s from here. What are you talking about with this status by stealth stuff?

          Of course I don’t know his work background exactly, and I’m unsure of how qualified he really is based on some of these comments. But in general terms, of course people will hire him if he’s qualified with a good CV and good connections. That’s what makes an effective professional. If you don’t have experience or connections to get business done, what use are you in a senior position? You hire qualified people, it’s not discrimination.

    • WillSee says:

      he is not a member of the elite!

      • In the know says:

        Considering these stories are being forwarded around reinsurance offices with smh jokes, I think it’s fair to say at this point the dream job you mention will be another figment of his dillusions of grandeur

  10. Malachi says:

    Having known Spencer for several years I can only comment that his ego appears to be a lot larger than his pocketbook!

  11. will of the people says:

    How can you be sued when there was no sale? what is going on?!?

  12. mj says:

    @over fourty——I like that! Some people believe in their own hype, and thats what happening now!We ole school peeps ain’t taking just anything anymore, we been around too long for that, no ticky no washy, Kenny is strictly business and he ne’er bow or bend to that non sense! whats the frequency Kenny?hahaha karma is sompthin!!hahahahalmaohahahahhahahahahahhahahahaMr. spence funny to think he can do business from just a “word” hahahahahhahhahahah um lmao all the way to the bank on this one hahahahhah.

    • Heavens says:

      @mj that was funny! “What’s the frequency Kenny”

  13. Archie says:

    The deal appears to have collapsed but we know that KD is minded to sell up. If another suitable backer comes along will KD sell VSB? If it does not, how long with KD keep VSB going?

  14. Rasta says:

    When is Shirley coming back?

    • Trulytruly says:

      Sundays only starting back in September only until end of year. She deserves to take it easy from now on.

  15. Bermudian Overseas says:

    I wish Kenny DeFontes every success in this matter. He certainly does not deserve to be immersed in this mess.