Liberty Broadband Interactive to Acquire Wink Communications
June 27, 2002
Liberty Broadband Interactive Television Inc. has signed a merger agreement with Wink Communications Inc. whereby Liberty will purchase all of Wink's outstanding shares of stock. Wink will subsequently operate as a wholly owned subsidiary of LBIT.
The merger will allow Liberty to combine Wink's end-to-end system that allows television viewers to use interactive programming with the company's own efforts in developing interactive services and products for advertisers, programmers and multichannel video providers.
Wink shareholders will receive three dollars per share. The transaction is still subject to approval by them and by regulatory bodies, but 20 percent of the outstanding stock has already been cast in favor of the transaction. The merger should be completed by the third quarter.
Liberty is owned by former cable mogul John Malone.