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BRIEF-Evine Live enters into channel sharing and facilities agreement with NRJ Boston Opco LLC and NRJ TV Boston License Co
August 30, 2017 / 12:34 PM / 21 days ago

BRIEF-Evine Live enters into channel sharing and facilities agreement with NRJ Boston Opco LLC and NRJ TV Boston License Co

Aug 30 (Reuters) - Evine Live Inc

* Evine Live - ‍On Aug 28, entered into channel sharing and facilities agreement with NRJ Boston Opco LLC and NRJ TV Boston License Co

* Evine- Entered agreement to allow NRJ to operate its local Boston television station on one-third of spectrum used in operation of station in perpetuity​

* Evine Live Inc says total consideration payable to co under channel sharing agreement with NRJ is $3.5 million - SEC Filing

* Evine LIVE- Agreed to sell all assets primarily related to boston station to affiliates of Wrnn-TV partnership pursuant to asset purchase agreement

* Evine Live Inc - ‍Purchase price for boston station’s assets is $10.0 million in cash, subject to an escrow holdback of $1.0 million​

* Evine Live Inc - Plan to use proceeds received from transactions to pay in full remaining amounts due under our term loan with Gacp Finance Co., LLC

* evine-‍closing of deals expected to have $3.5 million - $4.5 million nonrecurring benefit to net income that may be over multiple qtrs in fiscal 2017, 2018​ Source text: [bit.ly/2iGiXuh] Further company coverage:

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