Amcomri Entertainment Inc (TSE:AMEN) has released an update.
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Amcomri Entertainment Inc. is divesting its television business in a strategic sale valued at $24.6 million, which includes the transfer of certain assets and shares, and the assumption of production loans. This transaction is aimed at positioning the company’s content for continued success under new ownership, with net cash proceeds from the deal estimated at approximately $12.6 million. The completion of the sale is contingent upon the purchaser, Sphere Media Inc., securing financing from several financial institutions, including Bell Media.
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