Westwood One didn’t announce the terms for its purchase of Sigalert, but the details have now been revealed in an SEC filing.
All in all, WW1 paid $2.5 million to acquire Jaytu Technologies LLC, which owns Sigalert. That was 232,277 shares of Westwood One stock, valued at $1.25 million, and $1.25 million in cash.
That price may yet grow. “The members of Jaytu may earn up to an additional $1,500,000 upon the delivery and acceptance of certain traffic products in accordance with certain specifications mutually agreed upon by the parties, including commercial acceptance and/or first usage of the products by the Company’s TV affiliates,” WW1 stated in the SEC filing.