Broadcaster RNN to Acquire iMedia for About $50m

iMedia said it has entered an asset and equity purchase agreement to sell substantially all of its assets to an affiliate of RNN National Media Group for about $50m.

• Proposed transaction expected to close in August 2023, subject to higher or better offers
• Bankruptcy Court approved $15m in new debtor-in-possession financing in connection with transaction, enough to support operations during sale process
• Huron Consulting Group serving as financial adviser
• NOTE: Broadcaster RNN Strikes Deal to Acquire iMedia Out of Bankruptcy

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Allegra Fradkin in New ...