Home

Assets

Streaming Video Firm Optibase to Acquire Media 100 Assets for $2.5 Million

Authored by Mark Hefflinger on March 23, 2004 - 4:22am.
Marlboro, Mass. -- Optibase, a provider of streaming video technology based in Israel, has agreed to acquire the assets of Massachusetts-based Media 100, a developer of advanced media systems for content design, which is in Chapter 11 bankruptcy. Under the acquisition agreement, which is subject to court approval, Optibase will acquire substantially all the assets of Media 100 for $2.5 million, as well as provide up to $1 million of secured financing. "Following approval by the Court, Optibase intends to keep Media 100 activity intact as a unit in Optibase in order to continue the development, sales, and support of the Media 100 products," said Tom Wyler, CEO of Optibase, which is a Nasdaq-listed company.
tags: Streaming Video | Media | Optibase | Assets |

Gemstar-TV Guide Ends Patent Dispute With EchoStar, Sells Some Assets

Authored by Mark Hefflinger on March 2, 2004 - 7:05am.
Los Angeles -- Building on its recent string of licensing agreements, Gemstar-TV Guide International, a provider of electronic program guides for digital TV services, announced on Tuesday that it has licensed its program guide to satellite TV broadcaster EchoStar, and settled its four-year patent dispute with the company. The agreement includes a one-time payment by EchoStar of $140 million to license Gemstar's guide for use on its DISH Network service. Separately, the companies said that EchoStar has acquired Gemstar's Superstar/Netlink Group (SNG), UVTV distribution, and SpaceCom businesses and related assets for $48 million in cash. Los Angeles-based Gemstar's deal with EchoStar follows a similar deal last week in which the company ended litigation and licensed its technology to consumer electronics firm Pioneer, and recent licensing agreements with firms including Mitsubishi, LG and Comcast.
tags: EchoStar | Gemstar-TV | Guide | Patent Dispute | Assets |

Vivendi Planning to Offload $21 Billion in Assets, CFO Says

Authored by Mark Hefflinger on November 24, 2003 - 7:07am.
Barcelona -- French media and entertainment conglomerate Vivendi Universal plans to offload nearly $21 billion in assets over the next two years, according to CFO Jacques Espinasse. Speaking in Barcelona, Espinasse said that Vivendi planned to pay a dividend by as early as 2005 and that the company hoped to make as much money from its media assets as from its telecoms. He also confirmed that the ongoing deal to sell Vivendi's entertainment assets to General Electric is going smoothly.
tags: Vivendi | CFO | Offload | Assets |

Analyst: AOL Could Start Selling Assets This Week

Authored by Mark Hefflinger on April 21, 2003 - 1:41am.
Dulles, Va. -- AOL Time Warner, the parent of Dulles-based America Online, may be moving closer to selling some non-core assets in the coming days, according to a report by Merrill Lynch. Analyst Jessica Reif Cohen on Monday noted that the first sale could come on Wednesday, when the media giant reports its earnings. Most likely to be sold off would be AOL Time Warner's 50% stake in Comedy Central that is worth about $1 billion, sports teams worth about $600-700 million or its book publishing group, worth about $350 million. "We believe Viacom is the likely and logical buyer of AOL Time Warner's 50% stake in Comedy Central," Reif Cohen said.
tags: AOL | Analyst | Assets |

Gaming Equipment Firm Shuffle Master Acquiring Assets of Sega Gaming Unit

Authored by Mark Hefflinger on April 4, 2003 - 3:11am.
Las Vegas -- Shuffle Master, a provider of electronic gaming equipment to the casino industry, said on Friday it will acquire certain assets owned by Sega Gaming Technology, a wholly owned subsidiary of Japanese video game maker Sega. Financial terms of the transaction were not disclosed. Under the deal, Las Vegas-based Shuffle Master would be granted licenses to Sega Gaming titles including "Royal Ascot," "Royal Derby," "Sega Blackjack," "Bingo Party" and "Roulette Club." Financially struggling Sega last month announced a plan to merge with Japanese pinball game manufacturer Sammy.
tags: Games | Sega | Assets | Shuffle Master |

Sonicblue Deals to Sell Units Fall Through; Assets to Now Sell at Auction

Authored by Mark Hefflinger on April 1, 2003 - 3:35am.
Santa Clara, Calif. -- Bankrupt consumer electronics firm Sonicblue announced on Tuesday that a proposed deal to sell its ReplayTV digital recorder business and Rio digital audio player business has fallen though, and the units will instead be sold at auction. Sonicblue, which filed for Ch. 11 bankruptcy protection last week, said at the time it had a letter of intent to sell the units for $40 million to Japanese electronics firm D&M Holdings, Inc.; however, the companies failed to produce a final asset purchase agreement prior to the United States Bankruptcy Court appointed deadline. "While we worked very hard with the D&M team over the last few weeks, we were just not able to finalize all of the needed terms before the court set deadline," said Sonicblue CEO Greg Ballard. Separate auctions for Sonicblue's ReplayTV and Rio business units will now be held on April 15, while an auction for the company's GoVideo business line will be held on April 4. http://biz.yahoo.com/prnews/030331/sfm138_1.html
tags: Deals | Auction | Assets | Sonicblue |

Sonicblue Files for Bankruptcy, Looks to Sell Assets for $52.5 Million

Authored by Mark Hefflinger on March 21, 2003 - 4:35am.
Santa Clara, Calif. -- Debt-laden consumer electronics firm Sonicblue on Friday announced that it has filed for Chapter 11 bankruptcy protection in federal court in San Jose, Calif. The company also said it has signed a letter of intent to sell its ReplayTV digital video recorder business and Rio portable digital audio player business for $40 million to D&M Holdings, the parent company of Japanese audio equipment firms Denon and Marantz Japan. Additionally, Sonicblue intends to sell its GoVideo electronics unit to Opta Systems, a subsidiary of Carmco Investments, for $12.5 million. It also reported receiving $4 million in financing to continue operations. "We have great confidence in our business units, and worked to develop a plan that would permit Sonicblue to continue operating within the significant constraints imposed by our debt and legacy liabilities," said Sonicblue CEO Gregory Ballard. "In the end, we and our financial advisors have concluded that the best outcome for our creditors and our employees is to sell our businesses to better heeled owners." Santa Clara, Calif.-based Sonicblue reported $305 million in debt at the end of 2002, roughly equal to the value of its assets. http://biz.yahoo.com/prnews/030321/sff019_1.html http://www.sonicblue.com
tags: Bankruptcy | Assets | Sonicblue |

Liquid Audio Finds Buyer for Assets, Settles Bertelsmann Litigation

Authored by Mark Hefflinger on January 24, 2003 - 5:11am.
New York -- Liquid Audio, the beleaguered provider of digital music distribution technology, has found a buyer for some of its assets in Wal-Mart music distributor Anderson Merchandisers, The New York Times reported. Anderson will purchase the company's technology and other assets for an undisclosed sum, and start a new venture headed by Liquid Audio founder Gerry Kearby, who resigned as CEO of the company in November. Several groups of dissident shareholders had lobbied for Liquid Audio to dissolve and distribute its cash to shareholders, and fought the company's failed merger with Alliance Entertainment. Redwood City, Calif.-based Liquid Audio also announced that it settled outstanding litigation with Bertelsmann subsidiary BeMusic, and that its planned distribution of $2.50 per share to its stockholders will commence on Jan. 29. http://www.nytimes.com/2003/01/24/technology/24MUSI.html
tags: Bertelsmann | Assets | Liquid Audio |