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WAVO Closes Cidera Deal for $14.5 Million
Published by: admin 2008-11-21
WAVO Corporation
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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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