|
|
Article: SONICblue to File for Voluntary Reorganization Under Chapter 11; Proposes to Sell ReplayTV and Rio Business Units to D&M Holdings; Signs Definitive Agreement With Opta Systems to Sell GoVideo Assets.
- Article from:
- PR Newswire
- Article date:
- March 21, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. 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)
|
SONICblue(TM) Incorporated announced today that it and three of its subsidiaries will file voluntary petitions for reorganization under Chapter 11 in the United States Bankruptcy Court of the Northern District of California, San Jose Division.
SONICblue also announced that it has signed a non-binding letter of intent with D&M Holdings Inc. (TSE II: 6735), the Japanese parent company of audio equipment subsidiaries Denon Ltd. and Marantz Japan, Inc., pursuant to which SONICblue proposes to sell the assets comprising SONICblue's ReplayTV and Rio business units for $40 million, less up to $5 million of certain assumed liabilities and subject to adjustment. In ...
Related newspaper, magazine, and journal articles:
|
|
Article: DVDINSIDER: SONICblue to File for Voluntary Reorganization ...
DVD News;
March 23, 2003 ;
700+ words
... ... adjustment. In addition, SONICblue has entered into a definitive agreement with Opta Systems, LLC, a wholly owned ... all of the assets of SONICblue's GoVideo business ... We believe that Opta Systems can unlock GoVideo ... worldwide sales for SONICblue and having served for ...
|
|