Brief: Bravo Multinational Inc - Entered Into A Non-Binding Term Sheet With Vidgo Inc
14/03/2024 11:51
March 14 (Reuters) - Bravo Multinational Inc BRVO.PK :
* ON MARCH 11 ENTERED INTO A NON-BINDING TERM SHEET WITH
VIDGO,
INC
* BRVO WILL ACQUIRE CERTAIN CONTRACTS FROM ENTERTAINMENT
CONTENT
PROVIDERS, SUCH AS WALT DISNEY, ABC, AND FOX NEWS
* WILL RECEIVE ROYALTY FREE LICENSE TO VIDGO'S MULTICHANNEL
VIDEO
PROGRAMMING DISTRIBUTION PLATFORM, PLAYER FOR UP TO 15 MONTHS
* WILL NOT ASSUME ANY LIABILITIES OF VIDGO, EXCEPT FOR
INITIAL12
MONTHS MINIMUM GUARANTEED PAYMENT UNDER ACQUIRED CONTRACTS
* PURCHASE PRICE FOR THESE ASSETS WILL BE $10 MILLION IN
CASH PLUS
COMMON STOCK OF BRVO VALUED AT $1 MILLION
Source text for Eikon: ID:n0001091818-24-000020
Further company coverage: BRVO.PK
((Reuters.Briefs@thomsonreuters.com;))