Media Breakaway Responds to Acquisition Rumor
ADOTAS – As ADOTAS reported yesterday, rumors were spiraling that Media Breakaway may be for sale – and Ybrant Digital may be buying it – for $100 million. While the company is mum on the details, Steve Richter, the President and General Counsel reached out to ADOTAS to update the record: “Over the past year we have been approached by a number of business entities regarding a possible merger or acquisition of our company,” Richter wrote in an e-mail. “We are currently in confidential discussions with one such entity.”
Richter elaborated that the team is fully engaged the business at hand, “Right now, all 70 of our employees are concentrating their efforts on making our 3rd Annual Breakaway Conference on August 7th and 8th the most substantive and entertaining conference in the industry. We look forward to meeting with many of our top affiliates and advertisers, and sharing ideas about the present and future of our industry.”
As these things go, confidentiality is critical. So it seems as though there is some merit to the rumor mill, it is still factually unknown who is in the negotiation, we can only speculate.
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