RRsat Completes Acquisition of Hawley Teleport in Pennsylvania
02 Mai 2008 - 5:40PM
PR Newswire (US)
OMER, Israel, May 2 /PRNewswire-FirstCall/ -- RRsat Global
Communications Network Ltd. (NASDAQ:RRST), a rapidly growing
provider of comprehensive content management and global
distribution services to the television and radio broadcasting
industries, announced today that it has completed the previously
announced acquisition of the Hawley Teleport located in Pike
County, Pennsylvania, for approximately $4.25 million, of which $4
millions in cash and $250 thousands in services. RRsat acquired all
the property, assets and earth station licenses of the Hawley
Teleport from Skynet Satellite Corporation. The Hawley Teleport,
formerly owned by satellite operator Loral Skynet, includes
approximately 200 acres, a 3 floor communication building,
communications equipment and antennas, in which substantial
resources have been invested during the teleport's 33 years of
operation. "We are very pleased to complete the acquisition of this
premier teleport facility in Pennsylvania, our first such
acquisition in the United States. This acquisition is the first
step in our strategic plan to build a strong local presence in
North America, further expanding our proprietary RRsat Global
Network. We believe that the teleport is uniquely suited to
complement our growing services and customer base given its
facilities, as well as being geographically well-positioned for our
service requirements," commented David Rivel, Founder and CEO of
RRsat. Mr. Rivel added, "We were assigned the 13 FCC earth station
licenses previously held by Skynet and we are seeking to identify
new value enhancing synergies in order to develop and offer
additional services to our customer base - in North America, and
globally." About RRsat Global Communications Network Ltd. RRsat
Global Communications Network Ltd. (NASDAQ:RRST) provides global,
comprehensive, content management and distribution services to the
rapidly expanding television and radio broadcasting industries.
Through its proprietary "RRsat Global Network," composed of
satellite and terrestrial fiber optic transmission capacity and the
public Internet, RRsat is able to offer high-quality and flexible
global distribution services for content providers. RRsat's
comprehensive content management services include producing and
playing out TV content as well as providing satellite newsgathering
services (SNG). RRsat concurrently provide these services to more
than 425 television and radio channels, covering more than 150
countries. Visit the company's website http://www.rrsat.com/ for
more information. Safe Harbor Statement This press release contains
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding (i) our ability to successfully integrate the acquired
assets, (ii) the growth of our business in the United States and
elsewhere, (iii) our ability to build a strong local presence in
the North American region, (iv) the growth of our business and the
television and radio broadcasting industries, (v) our expectation
to expand our client base and sell additional services to our
existing client base, and (vi) our ability to report future
successes. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current
expectations, assumptions, estimates and projections about the
companies and the industry as of the date of this press release.
The company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or to changes in its expectations, except as may be required by
law. Forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those contemplated by the forward-looking statements,
including the risks indicated in our filings with the Securities
and Exchange Commission (SEC). For more details, please refer to
our SEC filings and the amendments thereto, including our Annual
Report on Form 20-F for the year ended December 31, 2007 and our
Current Reports on Form 6-K. Information in this press release
concerning Loral Skynet has not been independently verified by
RRsat. Company Contact Information: Gil Efron, CFO Tel:
+972-8-861-0000 Email: External Investor Relations Contacts: Ehud
Helft / Kenny Green Tel: +1-866-704-6710 DATASOURCE: RRSat Global
Communications Network Ltd CONTACT: Company Contact Information:
Gil Efron, CFO, Tel: +972-8-861-0000, Email: ; External Investor
Relations Contacts: Ehud Helft / Kenny Green, Tel: +1-866-704-6710
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