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Media Technology Company in Utah
Listing Information
Attachments
Media Technology Company in Utah
Price: Not Specified
Other Item Info
Item #: utbke_425449
Created: 12/10/2018
Category: Business Property > All Assets or Going Concerns > Media
Sale Location: Salt Lake City, Utah
Sale Date: Tue. Jan 15, 2019
Created: 12/10/2018
Category: Business Property > All Assets or Going Concerns > Media
Sale Location: Salt Lake City, Utah
Sale Date: Tue. Jan 15, 2019
Seller Info
George B. Hofmann
Trustee's Attorney
111 East Broadway 11th Floor
Salt Lake City, UT 84111
(801) 363-4300
Trustee's Attorney
111 East Broadway 11th Floor
Salt Lake City, UT 84111
(801) 363-4300
Bankruptcy Info
Case #: 2:18-bk-27740
Case Title: Sorenson Media, Inc.
Court: Utah Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Sorenson Media, Inc.
Court: Utah Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all of assets of the Sorenson Media, Inc. SMI is an innovative media technology company, founded in 1995. It originally made its name in video compression and coding technology, known as “Sorenson Squeeze”, which reduces video file size for transmission over the internet. But its present focus is on addressable television advertising and in particular, realizing the potential of “smart” televisions for the benefit of television manufacturers, TV inventory owners, and advertisers.
You can contact the Seller (above) or click on the case # in the bankruptcy case information section to find additional documents and descriptions regarding these assets for sale.
Financial Overview
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Asset and Liability Summary ($)
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Sale Location
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Salt Lake City, UT, 84111
Additional Details
- Auction Date and Time: February 11 (or January 15), 2019, at 10:00 a.m.
- Sale Hearing Held on on February 11 (or January 15), 2019, at 11:00 a.m.
- Purchase Price consisting of: the Assets, less the Excluded Assets, through (a) cash of $150,000, (b) Assumed Liabilities, and (c) a partial credit bid of the amounts due under the DIP Loan and the JLS Pre-Petition Secured Loan in the total amount of $3,000,000 (the “Credit Bid Amount” and, together with the cash, the “Initial Bid”).
- Bid Deposit: 10% of the proposed purchase price
- Bid Deadline: February 1 (or January 8), 2019