WENR Corporation (PINKSHEETS: WNRC) announced today Satview Broadband Ltd., a wholly owned subsidiary of WENR Corp., has signed an agreement to purchase a non-core cable system from Baja Broadband LLC, a portfolio company of M/C Venture Partners and Columbia Capital, in Nevada. Financial terms of the transaction have not been disclosed. Closing will occur in Q4 2010 upon receipt of regulatory and other approvals.
Baja Broadband provides triple-play broadband services including cable television, high-speed Internet and digital voice to approx 70,000 residential and commercial customers in Utah, New Mexico and Colorado. Peter Kahelin, CEO of Baja, said, "We are pleased to have concluded this process with a successful outcome. This strategic transaction will allow us to focus our attention and growth capital on our core systems, and continue to provide our subscribers with superior customer service and the most advanced products available."
Waller Capital Partners, LLC, a New York City based investment bank, served as Baja Broadband's exclusive financial advisor in the transaction.
About Satview Broadband Ltd.
Satview is a wholly owned subsidiary of WENR Corporation (PINKSHEETS: WNRC). Satview is a Reno-based television-programming provider operating in Elko County and Douglas County, Nevada. Satview designs, builds and operates broadband systems in the communities it serves.
WENR Corporation is a media holding company, which has two wholly owned subsidiaries, Satview Broadband Ltd. and Ngensolutions LLC.
The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear any projected results (expressed or implied) will not be realized.
Contact: WENR Corporation Dan Green 435-709-8350 www.wenr.net