TOKYO, Dec. 13 /PRNewswire/ -- D&M Holdings Inc. (TSE 1:6735) announced
today it has sold most of the assets of its ReplayTV(R) brand company to
DIRECTV Group, Inc., the leading satellite television provider in the U.S.
ReplayTV(R) produces digital video recorders for the consumer market and
enjoys a significant following due to its premium service and advanced
technology. The terms of the agreement were not released.
"Although we valued this asset and the business was profitable, the
sale of ReplayTV(R) to DIRECTV makes the most sense for this business, its
employees and us," said Chairman and CEO, Eric C. Evans. "We believe this
transaction is a positive development for ReplayTV(R) and this sale allows
D&M to further direct our focus on building our brands and executing our
growth and acquisition strategies."
D&M Holdings will remain the operator of the existing service contracts
for current subscribers for the foreseeable future while DIRECTV will
assume most of the other assets of the brand company.
About D&M Holdings Inc.
D&M Holdings Inc. is a global operating company providing worldwide
management and distribution platforms for premium consumer, automotive,
commercial and professional audio and video businesses including Denon(R),
Marantz(R), McIntosh(R) Laboratory, Boston Acoustics(R), Snell Acoustics,
Escient(R), Calrec Audio, Denon DJ, D&M Professional and D&M Premium Sound
Solutions. Our technologies improve the quality of any audio and visual
experience. All product and brand names with a trademark symbol are
trademarks or registered trademarks of D&M Holdings, Inc. or its
subsidiaries. For more information visit http://www.dm-holdings.com.
Forward Looking Statement
Statements in this news release regarding D&M Holdings, Inc. that are
not statements of historical fact may include forward looking statements
regarding future events or the future financial performance of the company.
We wish to caution you that such statements are just predictions and that
actual events or results may differ materially. Forward looking statements
involve a number of risks and uncertainties surrounding the integration of
the company's acquisitions, competitive and industry conditions, targeted
cost savings programs, market acceptance for the company's products,
technological changes, developing industry standards and other factors
related to the company's businesses.
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SOURCE D&M Holdings Inc.
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Related links:
http://www.dm-holdings.com
CONTACT:
Japan, Naoyuki Honmura, 81.44.670.1111, or
Europe & US, Gail L. Petersen, +1-201-762-6635, both of D&M
Holdings Inc.
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