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| WAVO Closes Cidera Deal for $14.5 Million | | Published by: admin 2008-11-21 |
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© 2007 Overture Services, Inc. http://ef=digg.com/submit?phase=2&url=news.earthweb.com/fina-news/article.php/483711&title=WAVO+Closes+Cidera+Deal+for+%2414.5+Million&bodytext=Satellite+delivery+division+sold+to+privately+held+Cidera.&topic=>digg.com/submit?phase=2&url=news.earthweb.com/fina-news/article.php/ digg.com/submit?phase=2&url=news.earthweb.com/fina-news/arately+held+Cidera.&topic=HOME | announced Thursday that it has completed the transaction to sell its satellite delivery division to privately held Cidera, Inc. for $14.5 million.
Terms of the deal include the sale of WAVO's FM and satellite network assets for $12 million in cash, $2.5 million in Cidera common stock and the assumption of certain liabilities. In addition, Cidera has entered into a $1.2 million, renewable service agreement with WAVO to utilize WAVO's MediaXpress service to provide Internet-based delivery for select Cidera customers.
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