DG FastChannel has entered into a definitive agreement to acquire privately-held GTN, Inc., for 11.5 million cash, which includes approximately 1.5 million of GTN's working capital.
Based in Detroit, GTN serves the ad community through a ange of advertising media services including distribution for standard definition and high definition commercials, production, post-production, asset management and archival services.
GTN's clients include top automotive advertisers and Detroit-based agencies focused on the automotive ad market. Automotive advertising produced by GTN has aired during the Super Bowl, Grammy Awards and other high-profile broadcasts.
The transaction is expected to close in Q3. DG FastChannel plans to finance via cash on hand and through borrowings under its existing credit facility.
