RRsat Completes Acquisition of Hawley Teleport in Pennsylvania
RRsat Completes Acquisition of Hawley Teleport in Pennsylvania
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: investors@RRsat.com
External Investor Relations Contacts:
Ehud Helft / Kenny Green
Tel: +1-866-704-6710
Source: RRSat Global Communications Network Ltd
Company Contact Information: Gil Efron, CFO, Tel: +972-8-861-0000, Email: investors@RRsat.com; External Investor Relations Contacts: Ehud Helft / Kenny Green, Tel: +1-866-704-6710
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