Wednesday, December 19, 2007
DG FastChannel to Acquire Vyvx's Advertising Service Operations
Dallas-based DG FastChannel Inc., a provider of digital media services to the advertising and broadcast industries, announced Wednesday that it has agreed to acquire the advertising services business of Level 3 Communication Inc.'s Vyvx LLC for $129 million in cash. DG FastChannel said the transaction includes Vyvx’s distribution and post-production operations. To fund the deal and to refinance existing debt, DG FastChannel said BMO Capital Markets has extended it a six-year, $145 million credit facility and a two-year, $65 million unsecured bridge loan. DG FastChannel said it expects the acquisition will close early next quarter.