Originally Published: November 1, 2009, 07:33 AM

Mandalay Media Steps in With Last Minute Bid to Acquire WPT

Posted By Diego | WPT News | November 1, 2009, 07:33 AM |

Mandalay Media, Inc., a Hollywood media company that produces movies and distributes branded entertainment for 3G mobile networks, has announced that it has sent a proposal to acquire WPT Enterprises. Inc. for $36.5 million, consisting of $28.5 million in cash, $5 million in Mandalay Media stock and perpetual revenue participation rights guaranteed to be at least $3 million. The offer is a significant increase over the $12.3 million offer on the table currently with Peerless Media Ltd., a subsidiary of PartyGaming.

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Embed Mandalay Media, Inc., a Hollywood media company that produces movies and distributes branded entertainment for 3G mobile networks, has announced that it has sent a proposal to acquire WPT Enterprises. Inc. for $36.5 million, consisting of $28.5 million in cash, $5 million in Mandalay Media stock and perpetual revenue participation rights guaranteed to be at least $3 million. The offer is a significant increase over the $12.3 million offer on the table currently with Peerless Media Ltd., a subsidiary of PartyGaming.<br /><a href='http://www.pokersbay.com'>Poker</a> | <a href='http://www.pokersbay.com/WPT/Mandalay-Media-Steps-in-With-Last-Minute-Bid-to-Acquire-WPT'>Mandalay Media Steps in With Last Minute Bid to Acquire WPT</a>