Sean Moran has left the building. Sources inside the company tell us that Sean Moran left last week.
Sean held a number of roles with PRN and elsewhere within the Thomson world, one of which was as President of Thomson’s Technicolor Out-of-Home Media Networks business but again whatever his titles he was very much instrumental in what PRN was all about.
At the moment, there has been no official reaction for his departure but it’s likely that a new Walmart deal not being done and the lack of progress on the sale of the business by Goldman Sachs may not have helped his cause.
PRN parent Thomson may now be starting to realise that PRN is a seriously troubled business. First off, it might actually be that PRN is not a ‘going concern’ – being in trouble and having a healthy parent is one thing (you can get bailed out after all) but Thomson has enough troubles of its own.
Without a sale we do not believe that Thomson can afford to run PRN at a loss and there are rumours of lots of red ink within the business. It’s anyone’s guess what might happen now.