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Article: DG Systems Acquires Media DVX for $10 Million; Combination Expands Advertising Industry's Largest and Most Reliable Spot Distribution Platform.
- Article from:
- Business Wire
- Article date:
- April 15, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS -- DG Systems, Inc. (Nasdaq: DGIT), the leading provider of digital media distribution services to the advertising and broadcast industries, today announced it has acquired the assets of Media DVX, a subsidiary of the Lenfest Media Group (LMG), for $10 million. Total consideration paid for the assets of Media DVX included a $6.5 million promissory note to the seller, $1.5 million in cash and the issuance of approximately $2.0 million of DG Systems common stock.
Commenting on the transaction, Scott K. Ginsburg, Chairman and CEO of DG Systems said, "The acquisition of Media DVX is consistent with our strategy to grow through a combination of new business ...