Cable Technology Feature Article
Satview Broadband Ltd. Becomes Wholly Owned Subsidiary of WENR
By Mini Swamy, TMCnet Contributor
WENR, a holding company, which directly owns or owns marketing rights in various growth stage companies, announced that it has acquired Satview Broadband Ltd. of Reno, Nevada, which will operate as a wholly owned subsidiary.
Satview, a Reno based television programming provider, operates franchise cable operations in Southern Douglas County in Nevada and Mono County, California. Private Cable operations are located in Nevada and California.
It provides cable television and Internet broadband and can design, build and operate broadband systems and provide television programming that suits the demographics of the community that it serves.
WENR purchased Satview for 5,000,000 shares of common stock and assumption of debt. Satview has revenues of approximately $500,000 per year and has over $500,000 in assets.
Headquartered in Reno, Nevada, Satview has been operating for nine years. Even after acquisition, the management will continue to remain with the company and the operations at Reno will continue as before. The company has a positive cash flow and a very modest debt.
In a bid to acquire additional cable systems in Nevada and Utah, Satview is in constant negotiations with the respective cable companies.
Talking about the acquisition of Satview, Manny Martinez, Director, described it as an exciting opportunity for the shareholders of WENR, as Satview has over 1,000 subscribers and was in the process of acquiring an additional 5,000 subscribers.
WENR is a holding company and provides senior management assistance and secures working capital for marketing development.
In a related news release, WENR Corp. announced the broadcast of the Azteca America network for the Reno and Carson City markets on KRRI-25. Ngensolutions LLC entered into an agreement whereby Channel KRRI-25 would be an affiliate for Azteca America in the Reno and Carson City markets. Ngensolutions, which signed a LOI to be acquired by WENR, launched the network broadcast locally.
Mini Swamy is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.
Edited by Juliana Kenny