DG FastChannel To Acquire Point.360's Ad Distribution Operations
April 16, 2007 at 4:12 PM (PT)
DG FASTCHANNEL has entered into definitive agreements with POINT.360 whereby POINT.360 will spin off its post-production operations to POINT.360 stockholders and DG FASTCHANNEL will acquire POINT.360's ad-distribution operations.
DG FASTCHANNEL Chairman/CEO SCOTT GINSBURG said, "POINT.360's ads distribution operation aligns well with DG FASTCHANNEL's business as both entities operate a national footprint of offices, sales professionals, and customer service representatives. The business combination increases the breadth of our next generation, state-of-the-art digital media platform and provides significant enhancements to our customers. Like the combination of DG SYSTEMS and FASTCHANNEL NETWORKS that closed last JUNE, this acquisition also provides significant opportunities for operational synergies. Our shareholders will benefit from our proven ability to combine like businesses and drive superior returns."
With the transaction, DG FASTCHANNEL expects to generate calendar 2007 revenue in a range of $95 million to $100 million and EBITDA in a range of $31 million to $34 million.