Blonder Tongue sheds some patents, private cable system
Blonder Tongue Laboratories has finalized previous plans to sell a suite of patents as well as BDR Broadband LLC, its private, Texas-based cable television business.
Blonder Tongue said it raised $2 million from the sale of patents - including some tied to the interdiction lines in its addressable subscriber equipment category - to Moonbeam LLC. Blonder Tongue, however, will retain a non-exclusive, royalty-free global license to continue to manufacture, use, sell and distribute all products currently protected by those patents.
Separately, Blonder Tongue sold BDR Broadband for $3.1 million to DirecPath, a joint venture of Hicks Holdings and DirecTV formed earlier this year to sell a bundle of DBS and broadband services to multiple dwelling units and gated communities.
Blonder Tongue said the deal, which includes some long-term equipment purchase commitments from DirecPath, will result in a gain of about $875,000, and annual savings of roughly $525,000.
"We're excited about the BDR Broadband acquisition as it enables DirecPath to quickly build the critical mass necessary to compete in major markets like Dallas and Houston, as a part of our overall buy-and-build strategy," said DirecPath CEO Paul Savoldelli, in a statement.