The acquisition of Media 100 by Optibase is now set to go ahead (Broadcast, 5.3.04). Optibase has executed a definitive loan agreement through which it will provide around $1m (£540,000) of secured debtor-in-possession (DIP) financing. Optibase has also executed an asset-purchase agreement which, subject to court approval, will allow it to buy the vast majority of Media 100's assets for $2.5m (£1.34m) - minus any funding advanced. The deal will save Media 100 from closure after a drop in sales for three years running.
The acquisition of Media 100 by Optibase is now set to go ahead (Broadcast, 5.3.04). Optibase has executed a definitive loan agreement through which it will provide around $1m (£540,000) of secured debtor-in-possession (DIP) financing. Optibase has also executed an asset-purchase agreement which, subject to court approval, will allow it to buy the vast majority of Media 100's assets for $2.5m (£1.34m) - minus any funding advanced. The deal will save Media 100 from closure after a drop in sales for three years running.

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