Merger of ¡Sorpresa! Parent Approved
By Multi Channel News Staff -- Multichannel News, 1/19/2007 11:19:00 AM
Juniper Partners Acquisition stockholders approved the company’s merger with Firestone Communications, parent company of Spanish-language kids’ network ¡Sorpresa!.
The company will be known as Juniper Content Corp. The transaction was originally announced in August.
Juniper chairman and CEO Stuart B. Rekant will become CEO of Firestone Communications, and Leonard Firestone will continue as president and chief operating officer.
All shares of Juniper’s class-B common stock will automatically convert into shares of common stock upon consummation of the merger, the companies said, adding that Juniper’s common stock, class-Z warrants, class-W warrants, series-A units and series-B units will continue trading on the Over-the-Counter Bulletin Board after the closing, but Juniper expects them to begin trading on the NASDAQ Capital Market shortly thereafter.
“The combination of Juniper and Firestone will serve as a foundation for our multiplatform strategy and will support the creation and acquisition of other branded content services in high-growth categories that will contribute to the company’s expansion and the continued growth of ¡Sorpresa!,” Rekant said in a prepared statement.
¡Sorpresa! has carriage deals with cable operators including Time Warner Cable, Comcast, Cox Communications, Charter Communications, the National Cable Television Cooperative and Cablevision Systems.
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