Aug. 13, 2013, 8:55 AM
- Digital Generation (DGIT) agrees to sell its television ad delivery business to Extreme Reach for $485M.
- DGIT says it will use proceeds from the sale to pay off all outstanding debt and fund the majority of a planned cash distribution to stockholders of at least $3/share.
- DGIT's online business is not part of the deal, and stockholders will receive shares of a company that will hold its online business.
- Shares +34.3% premarket.
Jul. 16, 2012, 4:30 PMTV/Web ad network owner Digital Generation (DGIT) says its board has hired Goldman Sachs to help explore strategic alternatives, including a possible sale of the company. It was reported in June that DGIT, which closed today at $9.61, turned down a $20/share offer from privately-owned ExtremeReach-Providence. Shares are halted. (PR) | Comment!
Jun. 6, 2012, 4:09 PMAd distribution network owner Digital Generation (DGIT +26.5%) soared in the final minutes of trading thanks to a Bloomberg report claiming the company, which still only closed at $12.13, turned down a $20+/share buyout offer from privately-owned ExtremeReach-Providence. Shares are down 7.1% AH. | Comment!
Apr. 24, 2012, 11:31 AM
Aug. 30, 2011, 8:01 AMLimelight Networks (LLNW) soars 9.3% after announcing it will sell its EyeWonder online advertising unit to DG (DGIT) for $66M in cash - money the company can definitely use, given its rate of cash burn. Dan Rayburn had reported that Limelight was looking to sell EyeWonder, and perhaps merge its content delivery network (CDN) assets with Level 3's (LVLT) CDN business. | 1 Comment
Jun. 16, 2011, 9:07 AMMediaMind Technologies (MDMD) +37.5% premarket after DG Fastchannel (DGIT) says it will pay $418M to buy the digital advertising company. The $22/share offer represents a 38% premium to yesterday's closing price. DGIT says the acquisition would enable it to penetrate the Latin American, Asian, European and African markets. (PR) | Comment!
Digital Generation Inc provides digital technology services that enable the electronic delivery of advertisements, syndicated programs, and video news releases to traditional broadcasters, online publishers, and other media outlets.
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