Health Products Firm Buys Cable Network
A Santa Monica company said Monday that it has agreed to buy nationwide cable network Access Television Network in Irvine for an undisclosed amount of stock.
But RnetHealth Inc., which provides products related to behavioral health and general wellness issues, said in a press release that its acquisition would result in ATN shareholders owning about 45% of RnetHealth.
The Irvine firm broadcasts paid and promotional cable programming 24 hours a day across 300 cable systems that reach 26 million subscribers. ATN is privately held by investors, which include the Hearst Family Fund and Spectrum Equity Investors, a multibillion-dollar Boston investment fund.
RnetHealth expects the acquisition to add $13 million in revenue in the current fiscal year.
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