DG Agrees to Sell Television Business in Deal Valued at $525 Million
DG® (NASDAQ: DGIT), the world's leading ad management company, today announced that it has entered into an agreement, which was unanimously approved by its Board of Directors, to sell its television ad delivery business to Extreme Reach, Inc. for $485 million. The proceeds will be used by DG to pay off all outstanding debt and fund the majority of a planned cash distribution to DG stockholders of at least $3 per share. In addition, DG stockholders will receive a distribution of shares of a company that will hold DG's online business ("The New Online Company.")
- Published: 13 August 2013
- Written by Editor