OutdoorPartner Media to sell assets to Brite Media Group
Toronto-based OutdoorPartner Media has entered into an agreement to sell substantially all of its assets to Brite Media Group of Santa Barbara, CA. The agreement is between OutdoorPartner and its US subsidiary Intelligent Media, operating under the name Prime Point Media, and Brite Media Group and a newly formed subsidiary of that company. The sale includes Prime Point's phone kiosk advertising displays and other media-related assets. Brite Media will assume certain liabilities and pay OutdoorPartner US$2 million. The transaction is expected to close within 75 days. OutdoorPartner will then cease active business operations.