Thursday, June 14, 2007

DG FastChannel to Acquire GTN for $11.5M

Dallas, Texas-based DG FastChannel Inc., a provider of digital media services to the advertising, entertainment and broadcast industries, reported Thursday that it has agreed to acquire GTN Inc. for $11.5 million in cash. Based in Detroit, GTN provides the advertising community with advertising media services, including distribution for standard-definition and high-definition commercials, production, post-production, asset management and archival services. DG FastChannel said it financed the deal with cash on hand and through borrowings under its existing credit facility. The transaction is expected to close in the third quarter.