Koch Entertainment Buys Navarre Corp. Distribution Division
May 14, 2007 at 5:45 AM (PT)
NAVARRE CORPORATION, a publisher and distributor of physical and digital home entertainment and multimedia products, announced that it has entered into an agreement to sell its independent music distribution business to KOCH ENTERTAINMENT for $6.5 million in cash.
In addition, the company will retain certain trade receivables associated with the business, from which it expects to generate additional cash. The company expects to recognize a gain from the transaction, the amount of which will depend on the closing balance sheet, and anticipates this transaction to be slightly accretive on a go-forward basis.