Ken Bentley Exits Bonneville Telecom To Spearhead Unidentified Buyout Group

Bonneville Telecommunications Corp. faces an uncertain future following the sudden departure of Ken Bentley, the unit's president. Bentley left the firm late last month, shortly after BTC's parent company acknowledged that the quote vendor and data broadcasting network had been put up for sale (MTR, February 1986).

Bentley left immediately following a February 21st board meeting at which he reportedly clashed with directors over details of plans for the network's sale. He resigned "due to an inability to resolve differences as to the direction the company should take," Bonneville says in a statement.

"My purpose in resigning the company is to join the investors' side to buy the company," says Bentley. "I needed to avoid what would have at least been seen as a conflict of interest in the eyes of the parent company." Bentley declines to give details, except to say that "it's been possible now to accelerate the [sale] process by virtue of me being outside."

Exactly how Bentley's exit will affect Bonneville's plan to sell remains to be seen. "In light of the changes, the company is reviewing their posture with regard to a sale," says a Bonneville spokesperson. One source says Bonneville directors were surprised at the interest shown by potential buyers, and may now be more reluctant to close a deal quickly.

Bentley insists, however, that his group "will have an offer accepted within the next 2-3 weeks." He views his absence from the company as only temporary. Once the sale to his group is concluded, he says he expects to be back in his office.

Blaine Whipple, chief financial officer at Bonneville International, BTC's parent company, has taken over as president and chief executive officer, and Charlie McQuinn was installed as executive vice president and chief operating officer. McQuinn had been running BTC's financial quotations business since the company's recent reorganization (MTR, January 1986).

Bentley's disagreement with the Bonneville board apparently involved both the timing of the sale and selection of a prospective buyer. Bentley is said to have favored a quick sale to Equatorial Communications Co., which markets the small-dish satellite technology used by Bonneville and many other quote vendors.

Equatorial co-founder Ed Parker declines comment on the report, saying only that BTC is "a long time valued customer of ours and we hope they get their act together." Bentley also declines comment on the Equatorial reports, saying only that his prospective investor is a "substantial company," and that "it makes a lot of sense to combine the two entities."