Key Developments For OpenTV Corp
OpenTV Corp (OPTV.O) (Consolidated Issue listed on NASDAQ Global Market)
Bresnan Communications Deploys OpenTV Corp.'s EclipsePlus
OpenTV Corp. announced that Bresnan Communications (Bresnan) has deployed OpenTV EclipsePlus to manage its advertising sales operations. OpenTV EclipsePlus will manage Bresnan`s advertising sales operations across the operator`s footprint which serves subscribers in Colorado, Montana, Wyoming, and Utah.
Kudelski SA Announces Final Extension Of Offering Period Of Tender Offer To Acquire All Outstanding Class A Shares Of OpenTV Corp.
Kudelski SA announced the final extension of the previously announced subsequent offering period of its tender offer to acquire all outstanding Class A shares of OpenTV Corp. not already owned by Kudelski SA or its subsidiaries for $1.55 per share in cash to 12:00 midnight, New York City time, on November 25, 2009 (which is the end of the day on November 25, 2009). The subsequent offering period was previously set to expire at 5:00 p.m., New York City time, on November 20, 2009.
The Kudelski Group Completes Tender Offer For OpenTV Corp. With 60% Of Class A Shares Not Owned By Kudelski Tendered
The Kudelski Group announced that it has successfully completed its tender offer to acquire Class A shares of OpenTV Corp. not already owned by Kudelski or its subsidiaries for USD1.55 per share. The offer expired on November 12, 2009. As of the expiration of the tender offer, shareholders of OpenTV had tendered approximately 56,382,588 Class A shares of OpenTV (including 8,277,113 shares subject to guaranteed delivery procedures), representing approximately 60% of the OpenTV Class A shares not already owned by Kudelski or its subsidiaries. Pursuant to the terms of the tender offer, shares that were validly tendered and not validly withdrawn have been accepted for payment. Upon the acquisition of those shares validly tendered and not withdrawn, Kudelski will own approximately 91% of the voting rights in OpenTV.
OpenTV Corp. Reiterates FY 2009 Outlook
OpenTV Corp. remains on track to achieve fiscal 2009 financial outlook. According to Reuters Estimates, analysts were expecting the Company to report revenues of $120 million and earnings per share (EPS) of $0.06 for the same period.
Kudelski SA Announces Extension of Tender Offer to Acquire OpenTV Corp.
Kudelski SA announced that it has extended the expiration date of its tender offer to acquire all outstanding Class A shares of OpenTV Corp. not already owned by Kudelski SA or its subsidiaries for USD 1.55 per share in cash. The tender offer, which commenced on October 5, 2009, and related withdrawal rights are now scheduled to expire at 11:00 pm New York City time on November 12, 2009. The tender offer was previously scheduled to expire on November 6, 2009.
